The republicans pushed thru the IRA in 1985-86 over the Democrat objections. There is a lot of historical data on the hearings, committee meetings and the press reporting. Basically, the democrats wanted to keep people from investing in themselves and in America stocks/any stocks. By keeping people from experiencing stocks they could continue to demonize big business and the markets because no one would understand how companies investing, nor would people be invested and a stake in the markets. Once people start to invest, they become independent and no longer only look to social security and medicaid/medicare to live on in their older retirement years.
Anything that destroys stock ownership or serves to make people stockholders and acquire an understanding of the markets keeps them serfs.
People who own stocks and have IRAs usually do not obsess like the “Occupy Wall Street” types who have an irrational basis to argue against companies and the markets.
Even Hillary’s “pork bellys” $2 turned into 170K or whatever the absurd amount really only served to undermine the truthful basis of the markets.
That’s a very good summary analysis of the Dem motivation. I would only add that they now want to steal the trillions of dollars people have saved through their IRAs to “pay” for votes for them.