[AnotherUnixGeek]

For one thing, reducing the maximum that can be contributed by those 50 and older under the "catch-up" provisions of the tax code for 401(k) and IRA accounts isn't all that big a deal.

I'm pretty sure that it is that big a deal if you happen to be 50 or over and need to catch up on your contributions to your retirement savings. This is how smart government confiscation of private savings goes - small increments and focused targeting that leaves your neighbor saying he doesn't think it's all that big a deal.

[grumpygresh]

This will make the markets tank. If tax deffered investment is capped, even for the evil rich people, there will be less private capital availible and hence reduced economic growth (less private sector jobs). The markets are already under long term pressure from the retirement of the baby boomers, who will be net sellers of equities and other investments.
We should instead make it easier to invest for everyone, not harder. This is just more big government socialism that could trigger a depression.

[sr4402]

This is how smart government confiscation of private savings goes

This is how Democrat confiscation of private savings goes.

Barney Frank was the one in the house pushing this before the Shellacking.