An illustration of the unequal distribution of wealth., (Image: Prazis, via Shutterstock)
OPINION: The United States faces down, arguably, the greatest income and wealth disparity since before the Great Depression. The American people are growing increasingly aware of this disparity, as they see the power of corporations and the wealthy bend our political and financial systems to their will.
It had a name, Secure Choice, and now an attempt to create the first state-run “automatic IRA” for workers with no retirement plan has its first donors, authorization to hire consultants and a favorable response from a wide range of groups asked for advice. The author of the program, Sen. Kevin de Leon, D-Los Angeles, may become the next leader of the state Senate. So the plan being developed by a nine-member board could have a strong advocate when it comes back to the Legislature for approval.