They are not going to take your 401(k) just give you a guaranteed return on your money through annuitization at retirement (Probably 70 years old). When you die the principal goes to the state. Cash will shore up union and government pensions.
I think they’ll get at your 401k through income taxes. If you have XX amount of 401k savings, your tax rate is the usual plus YY percent.
They will find a way to “even the retirement field” by penalizing those of us who have saved for retirement, while offering tax breaks to those who have not.
They may even be so bold as to adjust social security payouts according to an individual’s 401k situation.
Nope. Shooting war.