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I know they are taxed based on other income.

Do you think he cares about your or anyone like you - retirement plans?

The money you or others saved through hard work and frugality is not your money. It is his money. And technically Uncle Sam has a lean on it when you retire.

I reminded daily here how naive even supposed conservatives are. People still think they live in a country governed by laws with Constitutional protections. They think if they just watch Fox that everything will be alright.

My point is that there is an issue of expectations and basic fairness here. You don't suddenly yank away from someone a benefit that he had always assumed would be there (because you promised him it would) and which he has therefore counted on as part his retirement income. If you want to make some sort of fundamental change, you at least have to start with people who have productive years left and who can adjust their plans (or expectations) to the new reality.

I would make the same point with respect to reforming public sector pensions. You can't just yank the rug out from under people who have finished their careers and are now counting on the income. You need to start far back in the pack, cutting back the pensions for those in their 20s and 30s and telling them to start saving for retirement the way folks do in the private sector. If you are not counting on the defined benefit, you will find ways to replace it if you have the time.