The largest pool of cash in the world is in retirement savings in the US. They’ll try to come for it.
I think that would be a red line for a lot of people, as in "you took my life savings, now I take it out of your hide".
Blacks need reparations. Handing them all of the 401(k) money would be a start. [/s]
After inflation is done wrecking retirement funds there won’t be much left for the gubmint to steal.
“They’ll try to come for it.”
They wont “try” they “will” come after it.
On that I agree. But attempts to modify the Social Security program is not called the "third rail of politics" by politicians for nothing. It will be even more so with private retirement savings.
Since defined pension plans have gone the way of the dodo bird (unless you work in the public sector), 401(k) and IRAs are all the people have left to supplement the meager Social Security payments. And most of them don't put nearly as much into them as they should but that's a story for another thread.
Attempts to come after 401k's will be political suicide and the outrage of the people will be truly bi-partisan. Democrats invest in 401k's too.
So I think this will be a non-starter. But yes, if the politicians could get their grubby hands on our retirement savings, they would do so.
They already have tried. Jesse Jackson wanted 6 % of all 401 K’s to “Invest” in the inner cities. You know whose pockets it would have gone into.