alt Hacker NewsThis is just wild hyperbole.
Yes, tax rates might go up. You should actually bet on that because tax rates are at a pretty low level historically.
But this concept of nationalizing private bank accounts is pretty extreme.
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eYrKEC2 • today at 3:01 AM
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It doesn’t even have to be raiding of accounts. They can modify rules of RMD to drive tax revenue or even entirely change the rules of 401k withdrawals such that if your balance is over a certain amount you pay an extra tax.
I don’t think it’s far fetched that 401ks of a certain value start to experience penalties to make up shortfalls. After all, the whole reason they would need to do this is because they failed on the promise of social security. Why not fail on the promise of the 401k?