Basically, if you have retirement investment income (i.e. 401k) of say, half a million dollars. And you withdraw 4% annually to live off of, that's only $20,000. And if you do it once per year (as Paul Merriman suggests) instead of doing it monthly, then someone living on just $20,000 per year in retirement is getting their bank information data dumped to the IRS.
Somehow the Dims that imagine a right to privacy for killing babies don't see a right to privacy for how you spend your money.