Rep. Bennie Thompson (D-MS) advised his constituents to pass on the new $1,000 seed investment from the U.S. Treasury for children simply because it has President Donald Trump’s name attached to it. A Daily Wire analysis found that Trump Accounts have the potential to turn into $362,000 by the time a child turns 18, but Thompson wants people in Mississippi, America’s poorest state, to stay away from the president’s new economic initiative. “It’s safe to say, I would pass on a Trump account,” Thompson said on Monday. “Trump University already taught us what happens when his name is on the brochure. Does a $25 million settlement ring a bell?” Thompson’s recommendation on Monday was based on Trump University, a for-profit wealth institute created by Trump in 2005 that was shut down in 2010. Trump University educated people on real estate and wealth creation with attendees paying for bootcamps and mentorship programs from $1,500 to $35,000. Trump Accounts, which launched on July 4, are investment accounts for children created by the United States government that will be around long after Trump’s presidency.  The White House shot back at Thompson, saying, “Telling your constituents to pass up on wealth because you hate President Trump is a seriously deranged — but not surprising — move from you.” Thompson, who represents one of the poorest districts in America, did not respond to a request for additional comment on the matter from the Daily Wire.  Thompson has about $3 million in assets with fixed annuities, bank accounts, real estate, and exchange-traded funds being the largest concentrations of his wealth. Trump Accounts also invest in exchange-traded funds. Once children with a Trump Account turn 18, they can withdraw the money they accumulated penalty-free to purchase a house or pay for college. They can also choose to keep the money invested. Treasury Secretary Scott Bessent believes watching the accounts grow will teach American children financial literacy. The Treasury Department called Trump Accounts a real-time laboratory of financial literacy, with children and parents able to check the daily status of the Trump Account through the official app and ask questions of why the account is up or down that day.  Parents are able to contribute $5,000 a year to help grow the account with employers able to help up to $2,500 of the total amount. Grandparents, other relatives, friends, and even the child themselves can also help make contributions to the account. Based on historical figures from 2007, if the account was invested in the S&P 500, a fund made up of the 500 largest American companies, the Trump account would be valued at $5,900 if left untouched. With the yearly employer contribution the accounts would have grown to $183,933, and with the maximum $5,000 contribution, the account would rise to $361,959.  If the account had stayed invested until age 65, it would be worth nearly $45 million. Parents can set up an account for their children on the official Trump Account webpage. All children under the age of 18 are eligible for an account, and children born between 2025 and 2028 qualify for the $1,000 seed investment.