President Donald Trump is eligible for around $15,000 in extra Social Security benefits each year because of his son, 11-year-old Barron Trump. Under Social Security rules, individuals who are old enough to claim retirement benefits but who have children under 18 can receive this supplementary income, even if they are ultra-affluent. This Late-in-Life Baby Bonus goes to approximately 1.1% of Social Security retirees at an estimated cost of $5.5 billion per year. Though this represents a small fraction of the system’s nearly $1 trillion annual outlay, it is an indicator of a very real need for reform.
See Allan Sloan & C. Eugene Steuerle, How Senior Daddies — Like Donald Trump — Are Eligible for a Social Security Bonus, ProPublica, March 2, 2018.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.
