I don’t know why President Trump and the Republicans aren’t shouting from the rooftops on Trump’s accountsthat could turn working-class minority children into millionaires. And it will teach a whole generation of young people about jobs, businesses, markets and capitalism. Children born between January 1, 2025 and December 31, 2028 will receive a one-time federal contribution of $1,000, regardless of family income.

As John Carney reported, there are no means tests, no phase-outs and no income caps. Families can contribute up to $5,000 per year. Employers can add up to $2,500 per year. And with different rate of return assumptions, if they are not touched until retirement at age 65, it could reach more than a million dollars.

Money grows tax-deferred. It is invested in index funds, tracking primarily US stocks. Distributions are blocked until age 18, when account holders can access the money for home purchases, business start-ups or education. But the key point is that the mathematics of compounds in interest over a long period of time can make these accounts transformative.

The Committee to Unleash Prosperity notes that Trump’s bills will create a nation of owners and democratize stock ownership. With an average return of 10.3 percent annually, these kids could be millionaires by age 30. Now, many of these estimates depend on how much additional money is included in the account, but corporate America has been risingsites like JPMorgan Chase, Bank of America, Intel, Charles Schwab, and Coinbase. And people like Michael Dell and Ray Dalio have made big early commitments.

Pop star Nicki Minaj he says he will deposit money into the accounts of his young fans. The Trump accounts may end up being one of President Trump’s biggest legacies. It will transform well-being into wealth. And hopefully persuade the next generation of young people of the merits of free market capitalism.