Donald Trump and Republicans are now going after the meager retirement savings of average Americans to fund their tax cuts for the ultra rich. People lucky enough to have a 401k put an average of $5,850 in each year. That’s not much considering retirement age is 65 (though Republicans want to raise it to 70) and people are living well into their 80’s. The overwhelming majority of people who use 401k’s are the white middle class people who voted for Trump and Republicans.
The GOP tax plan could make the retirement crisis worse — all to pay for huge tax cuts for the wealthy.