Trump Accounts were created under the "big, beautiful bill" signed July 4, 2025, and are structured as tax-deferred investment accounts for children. (Kevin Lamarque/Reuters)
Fox News Digital obtained Gould's full remarks at the Financial Literacy and Education Commission meeting that focused on the implementation, consumer education and outreach efforts for Trump Accounts. The commission is a body within the Treasury Department established in 2003 to improve the financial literacy of citizens.
Gould took aim at "collectivist policies," such as socialism, arguing financial literacy requires "a foundational understanding of free-market principles" and casting Trump Accounts as a response to what he called growing anti-capitalist ideology.
Trump Accounts "present a unique chance for all Americans to own a stake in the most powerful economy on earth, watch their money grow, and begin their investing journey," Gould said. "Trump Accounts offer an opportunity for America’s children to experience the best of our free markets and to own a piece of the American Dream. And they are a direct rebuttal to the philosophical and economic dead-ends of collectivist policies."
An American flag is displayed on the New York Stock Exchange in New York, Feb. 24, 2025. (AP Photo/Seth Wenig, File)
"Financial literacy and regulatory reform are connected," Gould said. "When consumers understand banking and regulation, they are less vulnerable to improper practices and more capable of understanding how innovation, whether in digital payments, modern distribution methods, or new financial services, can best serve them."
Some Democrat lawmakers and policy groups have spoken out against Trump Accounts, claiming they fall short of addressing financial hurdles Americans face or could widen the wealth gap as poor families unable to add contributions following the seed money will benefit the least, The Associated Press reported.
President Donald Trump has celebrated the accounts as providing citizens a better shot at the "American dream" while adding that they are like "real trust funds for every American child."
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"The federal government will also automatically be making a one-time seed contribution of $1,000 into the tax deferred Trump accounts for every newborn U.S. citizen, fulfilling a promise I made in the 2024 campaign," Trump said in December while announcing the accounts. "Trump accounts should grow to be worth many thousands of dollars by the time the child is 18 and even more by the time they are 20 or even 30 years old."
https://www.foxnews.com/politics/trump-accounts-touted-antidote-anti-capitalist-ideology-financial-illiteracy-gripping-us-regulator