401Ks are a great deal - under todays rules. But the Dems are already talking about “confiscating” (not their word) your 401k and turning it over to Social Security. Billionaires don’t need 401Ks, only the middle class. I wouldn’t be suprised to see some form of socialist redistribution of 401ks from those who “can afford it”.
I’ve been thinking about the “401k confiscation” idea that Democrats have. Of course, they don’t think beyond stage 1, they’re leftists. Actions and decisions don’t, or shouldn’t, have consequences.
What happens when you “pull out” 401k money to put under gov’t control? You must SELL STOCK to do so. And what happens when there’s a massive selloff of stock?
The market crashes. And along with it, the rest of the economy.
Now, this can be viewed two ways -
They can see that this would be incredibly harmful, and eschew doing it,
or, they can do it anyway, KNOWING what will happen, then pointing at the market crash and saying “aren’t you glad we saved your 401k from that?”