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I mean this sucks for people who are already retired, people who were about to retire, and people who weren't watching their trades or paying any sort of attention. I personally haven't been effected that much just yet. Just usually if you were to do this sort of thing you'd set out like a 10 year plan you sign into law rather than this that causes harm.
In the past I would have cheered this. But I am wiser now and know that unless the stock market is being abolished the rich can lose 99% of their wealth and be fine while everyone else drops dead. Your assumptions are ill informed and draw correlations to conclusions that only make sense in small scopes. Almost as if you're just saying divisive stuff. Hmm.....