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Paul Ryan's Next Attack on Workers' Retirement a Win for Wall Street


Paul Ryan's Next Attack on Workers' Retirement a Win for Wall Street

Dean Baker

As everyone knows, the fundamental principle of the Republican party is to redistribute as much income as possible from the rest of us to the rich. In keeping with this principle, Paul Ryan and the Republicans in Congress are pushing through a proposal to make workers pay larger fees on their retirement accounts. Unlike conventional taxes, which could be wasted on things like education or child care, these fees go directly into the pockets of the financial industry.


The tax breaks associated with the 401k plans become less and less important any wages continue to decrease to say nothing of the fact that lower waged employees fight just to meet everyday expenses let alone save for an uncertain future. If healthcare is unaffordable then retirement is even more so. Social Security is really the only retirement most of us will ever see - unless Ryan destroys that also.


Paul Ryan’s Next Attack, is a Heart Attack.


and Fox so called news or lamestreet media will not cover this and state succinctly how this effects your retirement. No Trump supporters will learn about it as surely they only watch Fox,Trump tweets, Alex Jones et al. It will take another 10/20 years for them to realize they’ve been had.


Robbing hoodwink


Trump’s propaganda machine will convince his supporters that one or more of the enemies (on his ever growing list of enemies), not Ryan caused their further economic distress. Trump’s base will never acknowledge that they have been had and that Trump WILL “make America great again” for the 1% at the expense of the 99%.


I appreciate getting out front and using the term ‘small-saver’s tax’ to discuss this proposal instead of the usual letting the criminal class set the terms of the debate and thereby setting the agenda. I would imagine they would call it something like the ‘Protection and Freedom of Savings act’.