Come on people; scare tactics are scare tactics. Do you really think Obama (or whoever, whether now or in the future) is trying to come after the level of retirement funds folks like us put away?
First, there's not a chance in Hell it's going to affect any of us, even if it passes as written.
Second, the "slippery slope" is bullshit, and most of you should know it. Among other things, capping these accounts at a point where even advanced savers are going to hit is going to be politically impossible. It's not like it's going to start at $3 million and, all of a sudden, it drops to $50,000. For those Americans that do save for retirement, 401(k)s and IRAs are the most common way.
Third, you know who is going to get hurt by this the most if it expands into many people's accounts? The investment industry - companies like American Funds (Capital Group) and Edward Jones, who have so much of their assets under management from people's IRAs. They have plenty of resources and lobbying influence. I can't believe I'm about to type these words: Edward Jones is going to save you money (but on a side note, stay away from their products just the same).
Comparisons to Cyprus or Zimbabwe are, at best, inane.