So with #2, steal everyone's money, even people contributing into 401k while making dogshit pay, and pay off the country's debt bill ran up by someone else?
I can tell you this scenario results in french revolutions
Everybody loves to quote french revolution or 2nd amendment but all these revolutions are all centrally lead (by somebody/group performing a power grab).
Whose leading the revolution against 401k theft? Is Vanguard going to invite people with 401ks to a rally in DC?
The French revolution wasn't lead centrally, it was a higher classes which boiled over to grassroots explosion of public discontent that ran away from everyone, had a life of its own, and devoured its children.
Economically, little changed for the regular people. The church was ruined, and so were many high class families. Socially, a lot did (there was an expectation of humans having rights, the church was forever relegated to a secondary role and out of governance, etc).
Most social revolutions (changing the social order, so the US war of independence doesn't count) have a grassroots component that is often highjacked by educated professionals (lawyers are a bit overrepresented) for their own social and economic agenda (which, to be clear, is a net positive compared to the previous order)
Whose leading the revolution against 401k theft? Is Vanguard going to invite people with 401ks to a rally in DC?