This would be a dramarama if it actually happened. I have a lot of retirement savings, but the drama bomb that would drop would be worth the massive loss to my net worth.
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There's at least another generation before they can do this, because the people who vote won't have it.
They will die, eventually
The next generation will be in eat the rich mode, and vote to dissolve individual private retirement accounts
but
it won't make a difference, because there won't be anyone left with retirement accounts worth seizing
so
meh
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