syke6 writes,
But if lawmakers were genuinely concerned about retirement security for people who need it, they wouldn’t start by aiding taxpayers who can afford to save more each year than most Americans earn.
Exactly!
The whole IRA/401k retirement system is just another way to shovel money to the top of the US economic pyramid.
I didn’t save any extra money for retirement because I had access to an IRA/40lk. It just meant that I moved money I’d be saving anyway to the tax sheltered accounts for the tax deduction. When I quit my engineering job at age 38, a bit less than half of my savings was in the IRA/401k.
If you want to help Americans’ retirement security, give everyone a $3,000 investment in an S&P 500 index fund at birth, and don’t let them touch it until retirement age.
intercst