Trump’s latest thought bubble: Mimic our superannuation system |
Tuesday was a historic day for philanthropy in the US. But bizarrely the announcement of the largest-ever private donation to America’s kids put the Australian superannuation system on the world stage.
Paul Keating, the father of our super system, can take a bow: Donald Trump is a fan.
The link between a US tech billionaire’s generosity and our retirement savings system seems tenuous, but Trump has plenty of form when it comes to thought bubbles and non sequiturs.
Michael Dell with wife Susan and US President Donald Trump at the White House this week.Credit: AP
This was no exception as he stood next to Dell Technology founder Michael Dell and Dell’s wife, Susan, who were the philanthropic stars of the proceedings.
The couple pledged a showstopping donation of $US6.25 billion ($9.5 billion) to America’s children under the age of 11 who live in areas where the median income is less than $US150,000 a year.
The funds will be distributed through accounts set up by the US government (they’re colloquially referred to as Trump Accounts) – a previously announced policy that will give $US1000 to every child born between 2025 and 2028 in a move to address........