Out of curiosity, do you think they could do the same to Roth IRAs since they’re composed of dollars already taxed?
If you’re an idiot who believes money belongs to the government, then they could “justify” the confiscation of 401ks and IRAs due to them being pre-taxed, but I can’t see them making a case for confiscating money that’s already been taxed.
I think they could do it with Roth IRA’s as well as Traditional IRA’s.
I’m sure the gold they confiscated during the 30’s was purchased with post-tax dollars, so I don’t see that as a bar.
This will be done in the name of “protecting us” from the evil, greedy bastards on Wall Street. They will paint them as evil incarnate and the sheople will embrace it. Nevermind the fact that this whole mess originated because Congress stuck their willy in the banking soup by requiring banks to issue sub-prime loans. They are never going to take responsibility for this, but they will use it to confiscate our wealth.