"Was The 401(k) A Mistake?"
Now they're asking? LOL
Better late than never...I guess.
And if Trump wins in November...some of us might have other things to worry about.
Anyhoo...401(k)s, amirite?
I haven't read the piece yet, but the program was supposed to be a win win all around for everyone, but what it was really about and who really won were the banks and investment firms, corporations (who nixed pensions) and 1% who suddenly had a market absolutely drowning in cash to burn up any way they wanted and to become ever and ever richer with while the working and middle class was excited to at least get returns that were greater than those available from a savings account.
Yes, more legacy "trickle-down" shit from the Reagan era that grew into a monstrous money grab by the ultra-wealthy and fucked over middle/working class people who were told if they had only themselves to blame over and over and over again....
@TheAbbotTrithemius @InUnfunky
the matching contributions from our company went from 100% to 0 over time..
so yeah.. no money out of their pockets
@TheAbbotTrithemius @InUnfunky
No money out of your own pocket they said at the first 401k meeting...
It is not dissimilar to the HBO concept that was supposed to be a big money saver but turned into a big money machine for certain people...
more 1980s Reagan bullshit