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So if I've been working 40 years, have a strong 401k, and am doing fine now I should get my savings wiped out? You're arguing all sides now. I didn't propose a

So if I've been working 40 years, have a strong 401k, and am doing fine now I should get my savings wiped out? You're arguing all sides now. I didn't propose a policy that would greatly harm retirement savings, you did. You proposed protecting 401ks with government backing. I stated that doing so would be a boon to the top 20% at the expense of everyone else.

toomuchtodo 7y ago
It seems I might not be communicating my thoughts on the topic coherently. My apologies! I felt that I have, but I think I’ll have to come back with a blog post instead of ad hoc thread comments. I appreciate the rebuttals for helping me refine my arguments! EDIT: /u/HarryHirsch's comment here [1] explains succinctly what I intended to explain but did so poorly. [1] https://news.ycombinator.com/item?id=22835580 https://news.ycombinator.com/item?id=22835580 ("You could nationalize the pension system. Considering the fact that on average the 401(k) balance is a few tens of thousands and that there is a retirement catastrophe coming, that wouldn't be the bad idea. The downside is that the stock market would be affected negatively since demand for stock would drop.")