“...to borrow against!”
Borrow?
How about creating a “Secured Conservative Retirement Unity Fund” (SCRU - or “screw you” for short) out of all of those risky 401k’s that people have their money in. It would be so much safer if those funds were controlled by the government, and much more fair too.
And how much of that household net worth is in the hands of old rich guys ready to die? Why should his heirs get it all when they didn’t even work for it!? And the great thing about Obamacare - they’ll die even more quickly!
And I’m not sure why we can’t go back to the good old days of taxes, like Kennedy, and FDR before him, where the highest tax rate was above 90%.
But, what we REALLY need to do is tax folks on their total worth like they do in some Scandanavian countries. Have a nice car that is really sooooo much more expensive than most everyone else? Tax it at 20% every single year. Same goes with the house that is larger than “average”, etc.
Your post is all too believable and various versions of it are likely to happen.