Secondly, I've found that investing outside a retirement plan gives you a lot more flexibility with your money and doesn't tie it up for many years like an IRA or 401(k) does.
Anyone who has the werewithal to save $3M in a retirement account might do well to invest in a lot of hard assets like real estate, precious metals, etc.
This is a ploy to make the “poor” hate the “rich” more. How many people will ever save $3 million in an IRA? I figure most of the people in the US would not be hurt by this BS. So, they’ll be all for it.