The whole article is predicated on the lie that low and middle income earners are buying private placements and LLCs in their IRAs. They are not. Full stop.
>The whole deal is a 'we are spending tons of cash, so we need to take it from someone' plan
Funny how spending tons of cash is a problem only if it benefits poor and middle class people. I never saw this outrage on trillions spent on endless wars, since that benefits rich people. But if something helps poor or middle class and hurts rich people a little, there is a big outrage.
But, of course, politicians want to let big businesses maintain their competitive advantage by making 401k have higher limits than IRAs.
> I never saw this outrage on trillions spent on endless wars, since that benefits rich people.
Tons of people have been outraged by the war, but it was politically unpopular across all income classes to be against the war in early 2000s.
I am not talking about the war itself. I am talking about the outrage over spending on wars. For example, there is barely any debate in the public sphere about 'where to get money to spend on wars', but if it helps poor or middle income people, like say increased welfare payments, or healthcare or college, suddenly there is a huge outcry over "how do we pay for it".