They don’t care about a panic. “Eliminating the tax brake” brings in a few billions against a deficit of over a trillion. It doesn’t even amount to a rounding error compared to the national debt.
But if they plunder the IRAs and 401K, there are trillions in there - enough to make a nice one time bump.
BTW: THEY ARE talking about eliminating 401Ks and replacing them with government secured annuities for what this is worth. Naturally, of course, they’ll have to find some way to redistribute the retirment funds to the “poor” to make it “fair.”
I'll make the same challenge I made above: Show me the proposal, instead of hand-wringing from someone with an over-active imagination.
I want to see an actual proposal from an elected Democrat in national office. Not some loony consultant, not some blogger with an axe to grind, and not some radio show host that wants you to tune in to hear what he says next.
Otherwise, stop trying to scare people over something that doesn't exist.