Warren’s Assault on Retiree Wealth

Her vision of ‘accountable capitalism’ would destroy savings built over a lifetime—and sink the economy.

By Phil Gramm and Mike Solon.

"households headed by people over the age of 55 own 73% of the value of domestically owned stocks, and the same share of America’s total wealth. Households of ages 65 to 74 have an average of $1,066,000 in net worth, while those between ages 35 and 44 have less than a third as much on average, at $288,700."

"Seventy-two percent of the value of all domestically held stocks is owned by pension plans, 401(k)s and individual retirement accounts, or held by life insurance companies to fund annuities and death benefits."

"Several Democratic congressmen and presidential candidates have proposed to limit stock buybacks, which are estimated to have increased stock values by almost a fifth since 2011, as well as to block dividend payments, impose a new federal property tax, and tax the inside buildup of investments."