They are going to reduce tax deductions for 401(k)'s....yeah, that makes sense, why encourage people to invest, it JUST allows them to not rely in a govt handout when older, but puts valuable capital into the economy where it does some good. Also, I want to see how they do this...reducing the cap (thereby making sure it never amounts to much), or with only a partial deduction (thereby double-taxing the investment).
This my friends is the most heinous of all the aspects of this proposal, it's seems DESIGNED to keep people more dependent on the govt (it effectively shores up SS by taxing those who plan ahead), and is majorly redistributive, the negative multiplier of this alone is enormous, I have poor hopes for the future.