the money stolen from them via payroll taxation
lol
It is a bit counterproductive to tax earnings if the objective is to encourage savings. Taxing consumption would be a superior method of encouraging savings, and slightly less regressive as well. In any event, I concur with Deus's reasoning that, while the objective of encouraging savings is noble, the implementation of it by its very nature diverts such savings from more productive uses. Of course, it is peculiar that there is overlap between the individuals that advocate Social Security on the basis that it is necessary in order to ensure that people save money for retirement seem to have no problem with a monetary system that is inflationary by its very nature, thus both encouraging present consumption at the expense of saving and robbing Social Security recipients from receiving the full value of their coerced savings.