They did it in Argentina.
Yes, they won't be seizing 401k's here anytime soon, but this union pension bailout piece is definitely something they are trying to do.
If the social welfare state indeed begins to implode, there is really no telling what the government will try to do.
Suppose a guy is a farmer and never sets up a 401K, IRA etc. but keeps buying land with his extra funds,,are these tali-ban wannabes going to take part of his land to satisfy their scheme?? hmmmmm