The most interesting piece of economic policy from the Trump White House is not a tariff, nor is it an AI export restriction. It’s a brokerage account for babies. Under the new Trump Accounts program, eligible American children born between 2025 and 2028 will receive $1,000 from the Treasury, to be invested in a broad index of American companies. Parents, employers, and other benefactors can contribute up to $5,000 more annually. Before these children can walk or speak, they will own their slice of corporate America. 

At first glance, this seems uncharacteristically left wing – as if a fever dream from Andrew Yang’s presidential platform had escaped and somehow convinced the Trump administration of its merits. But the policy reveals something entirely different about the post-2016 right. Trumpism is not merely Reaganism with poor table manners. It represents a break away from the Republican belief that the government’s role in the economy is to step aside and let prosperity take care of itself.

Trumpism is not merely Reaganism with........

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