I called this in 2008.
I think they’ll be more subtle, though. They’ll claim that new retirees are shocked and made financially unstable because they think they get everything in their accounts and, when they pay taxes, they have far less.
So, they’ll take half the taxes out right away, to reduce the “tax shock” (for our own good, you know, because we’re too stupid).
Once we get used to that, they’ll just say there’s a national emergency and they’ll move all private retirement accounts into the SS account of the holder’s name.
They’ll be able to spend that money as freely as they have squandered our SS accounts.