[logicalmind]

I highly doubt it would be that direct. A realistic way to do this would be to change the tax structure based on age. Meaning, the only way to extract the money without incurring severe penalty would be to do so after some advanced age. Then put in place a rule that any funds left after death become part of a new social security style safety net. Likely for the ever-increasing number of baby boomers who are retiring and living longer than ever.

[ceejayoz]

Retirement-age folks vote, in droves.

You could pass it, but I suspect all of Congress would be out of a job the next election.

[logicalmind]

Yeah, that's my point. You're talking about a retirement plan that impacts retired people who vote in droves. For the considerable future, those retirement age people will be baby boomers. They also happen to run the government. So why would it be unreasonable to expect them to pass laws that are favorable to them during their retirement as opposed to our retirement in 20/30/40 years.

https://fivethirtyeight.com/features/what-baby-boomers-retir...