Scenario:
Public pensions and Union pensions collapse.
The government will use the well worn excuse of FAIRNESS as a way of sharing/spreading wealth from the savers to the leeches by offering EVERYONE a guaranteed 3% return on all money currently in 401 k’s IF the government is allowed to take control.
The media will show endless stories of grandma and Freddy the Fender fixer eating out of a dumpster because his Ford pension has collapsed.
The sheeple will DEMAND that something be done and then will MEEKLY go along with the proposal.
Many/not all who are against this proposal will be trying to hold on to what wealth they have left rather than do the right thing......replay 1776 all over again.
Government always takes in increments.
JMO...
IMO, they won’t attack 401K’s directly. They’ll do something like curtailing Sosha Security benefits to those who already “have enough money anyway and don’t ‘need’ SS” even though they paid into it all their working lives.
Oh, wait...
Isn’t that part of the “Deficit Reduction Panel” plan already?