The much-touted millionaire projections for the newly launched Trump Accounts are drawing sharp criticism from top economists, with Justin Wolfers explicitly labeling the White House’s figures as “ridiculous, dishonest and deeply misleading.”
While the administration claims the accounts offer a financial head start for children, critics argue that the underlying math relies on flawed assumptions and that the policy primarily functions as a permanent tax shelter for the wealthy.
Flawed Assumptions and ‘GIGO’ Math
These accounts were launched earlier this month by President Donald Trump, created under the One Big Beautiful Bill Act. Eligible children born between Jan. 1, 2025, and Dec. 31, 2028, can receive a one-time $1,000 government contribution, which families and employers can then supplement.
However, Wolfers warned on Thursday that the administration’s glossy wealth projections rely on highly unrealistic factors. In a July 16 post on X, Wolfers noted that while the “math behind the White House’s Trump Account projections checks out,” the assumptions do not.
