The biggest loser besides the citizens who contribute to 401(k) plans is going to be Stock market aka “Wall Street”. They have become addicted to the biweekly or monthly infusion of cash from the 401(k)s. I expect the market to spiral down in flames if this comes to pass.
I am not thinking of just additional taxes on 401(k)s, I’m thinking of confiscation of the principle assets and the “conversion” to GIRA’s administered by the treasury, for our own good naturally./Sarc
I need a drink....