Close but not quite. It will be an even more sure bet than that.
For years the govt. has known that it can not save social security, medicare and caid on the back of tax revenue. They had to find a new source. They realized they needed to get into the capital markets somehow to generate real revenue at stock market rates.
The first foray into these markets was with the introduction of the Roth IRA back in the early 90's. How do you think the Clinton administration came up with their revenue? When people converted their traditional IRA to a Roth they paid taxes. The market was booming and most people had put their IRA money into stocks via M. funds.
So they gave us a tax increase its just that nobody recognized it for what it was and the tax revenue was higher because they taxed the value of your stock investment which for many people had been invested for years. This tax revenue was not du to be received for many years to come when people retired, but, when they converted IRA's the govt. got the money now rather than later. The govt got a taste of what capital investments could do for them. Now they had to find away to get in on it. Flash forward, cont.