Argentina took all the 401ks from their citizens and then spent the dough..............
This has been talked about since the Clinton Administration. Some broad at some NY think tank came right out and advocated for complete confiscation of 401k plans.
You know, for “safety”.
L
“Argentina took all the 401ks from their citizens and then spent the dough.”
With the US Dollar on its way out as the World Currency (thanks to our backfire-sanctions on Russia), I would expect our government to do the same, when that day comes. Basically, they’ll seize all of the funds in everyone’s 401k and give them a relatively small annuity (annual payments to people that had 401k’s). Same for Pension Funds.
With the amount of money they collect from American savers, well into the trillions, it will be used to pay-down our national debt (at least half of it).