Economics @ ITT

401(k)s are a Government Subsidy for Wall Street

Posted in economics, Income Redistribution, Policy Issues by ittecon on September 23, 2012

It shouldnt surprise us that the 401K, marketed to us as a retirement plan, is just a cash cow for Wall Street. After all, the 401k started as a tax loophole for executive pay. So why do i call the retirement “plan” of millions a “Wall Street subsidy”?

This is the hope Wall Street and Conservative thinkers have for Social Security funds under the guise of Privitisation.

via Daily Kos: The 401k is a Government Subsidy for Wall Street.

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