How Wall Street Is Fleecing Your Retirement $$$

It’s become fashionable to hate on the upper-middle class; Slate’s Reihan Salam made an entire column out of it. We’ll never get true “middle class economics,” the theory goes, because the upper-middle class cherishes their federal benefits, and will lash out if anyone tries to take them away. This came to a head over the flameout of President Obama’s proposal to end the tax break on 529 college savings accounts, most of which goes to families making over $200,000 a year, and target that money toward lower-income families who need more help with education expenses. Amid an outcry, the White House had to pull back that idea within days.