The first article is about the same loony professor that made a presentation to a committee. That was it. And in the ensuing furor, the committee chairman effectively disavowed her proposal.
The other two articles are about the possibility of making changes to the rules for new contributions, such as limiting them for high income taxpayers. There was nothing about confiscation or conversion of existing assets.
My point is there is no serious consideration of what some people are claiming. It is just fear porn to get you to read their blog or listen to their show. Stop falling for it, and stop repeating it.
Yet.
It is just fear porn to get you to read their blog or listen to their show. Stop falling for it, and stop repeating it.
Once such proposals get a bit of traction, it will be too late to stop it. There is a considerable body of voters out there who think "asset reallocation" should be done. They're called Obama voters.
If you think such a thing couldn't happen, then it shows you've not been paying attention.
I’ve always believed that the way it will be done is to further “means test” social security via some sort of asset test. In other words, if you’ve independently saved and have money to retire on other than SS, then your benefit payment will be trimmed.
While not a direct seizure of 401K/IRA funds, the effect is the same.