Hmmm. "limit an individual’s total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement"
A limit on the total amount of funds you can have in tax deferred accounts is not confiscation under any definition of the word. You hit the $3M mark, you have to invest in other areas under other tax schemes.
Considering I'm 54 years old and my gross married filing jointly income is less than half that, I'm not likely to ever be concerned about it. Neither are the other 80 to 90 percent of Americans.
Sorry Bob, your argument doesn't make sense.