ordinary Americans

Hiltzik reports that ordinary Americans struggle to fund their 401(k) plans while plutocrats accumulate millions tax-free. The article notes that tax-advantaged retirement accounts, initially devised for the middle class, have been exploited by the rich. Consequently, plans are now being considered to close these financial loopholes.

House Republicans are urged to pass a budget package that indexes capital gains to inflation, aiming to benefit small businesses and ordinary Americans by preserving assets and stimulating economic growth.