It's your money and they want it.

Because one person out of many testified to a congressional committee with a proposal that sounds screwy means one party is discussing it?

That doesn't even make any sense to claim the dems are discussing it.

I believe Clinton 1st proposed this plan about 10 years ago...

What is the point, H2O_man, of starting two threads on the same day about the same topic?

Because it's meant to be in the politics section, but the tags put it in a different location. That's the point.

Do you have a comment that pertains to the subject?

Of course I do. The babble from one economist from some university before a Congressional committee is just that: babble. There is no way that 401's or IRA's will ever be nationialized. It would politically be impossible.
But the real issue, H20_man, is the Social Security system. I don't know how old you are, but I am 62. We and our employers have been paying in for decades. Baby-boomers born in the late 1940's. A lot of money which Dem and Repub administrations tossed IOU's into to get at the cash.
But now us old farts are retiring. And we want our monthly checks. And we aren't planning on dying anytime soon. We may well live into our 80's, or 90's, collecting our checks every month.
The Social Security system is terribly flawed. It is not sustainable in its present form. The government has swept the issue under the carpet for years.
Thank you for asking for my comment.

Don't think for a minute that they won't and can't seize these monies.
It has happened in other countries and it can happen here.
Clinton came up with the idea over 10 years ago...