Posted on 07/21/2019 3:57:54 PM PDT by Freedom56v2
This article says almost nothing of any significance. No detail as to how and why these plans are under funded. Whose responsible? If we start bailing out some plans with no consequences, other plans will go hog wild paying benefits, knowing they can get bailed out.
Why should I, an employee who does not have a pension, bail our these a-Holes? I do not own your plan. Ef off.
They’ll be coming for our tax-deferred retirement savings soon enough. The gears are already in motion to prevent you from bequeathing those funds to your heirs, reverting them to the goobermint. Stay tuned!
No, Im just saying if your job is to “stand by in case something happens” then when it does its not really asking a lot if you work a couple extra hours to get it done. When the business I work for needs it I respond. Not asking for more than the average working guy.
Yes, I have also been following that issue. Twenty or thirty years hard core leftists were advocating a universal pension plan for all works-all IRAs, 401-K plans etc would be taken and used to fund this system, at least until the money ran out. Those ideas are slowly moving into the mainstream. After all saving for your own retirement is a form of white privilege and therefore racist.
Ditto. They could work, like the rest of America.
Did Boehner speak up for the GM employees?
Did he speak up for any conservative?
It doesn't really matter since any pay a Government worker gets is from the taxes of the people. They may have tax being withheld but it is all still the money taken from American workers.
If a Government worker makes $50K and pays $15K back to the Government in taxes he/she is actually only making $35K. Medicare and Social Security are paid by the Government so it is all from the same pot.
It's not obviously to me why we taxpayers must bail out unions and businesses who squander their pension savings and go belly up. You will likely find that the bankrupt plans squandered their savings on ill conceived social and politically connected schemes.
Tough shit! Welcome the the rest of the 95% of the country. Pensions if offered should only be based on disabilities or years of service. 20 years of service gets you 10 years of pension, and if you already make a lot of cash, then offer to donate it or be taxed on it. That would take most of the congress critters out of the equation!
So if Im a plumber, I worked my 8-hours. A busted pipe is in the middle of downtown, I can say see ya tomorrow or work for free? Hmmmmm.
Yes but my point is that with social security and medicare going bust I think it is important to hold the governments feet to the fire. There is plenty they can cut from other programs to fund this. And government should be held to the same standard that it holds private business to. If private business is forced to pay these taxes to the trust fund then the government should as well. Its not as though the government is paying the money to itself. This is in theory the money of the social security recipients. In order to get a true picture of the accounting the government should reserve a portion of its revenues for that purpose instead of simply putting it in the general budget.
Congress should have nothing to do with it. Let it fail. Paying people not to work makes no sense.
Ooh....looking forward to seeing what’s under that tip of the iceberg.
They played for pay, and visa-versa.
And, then some.
Thanks ;-)
The people running that plan need to have all their assets seized and themselves sent to jail for maximum terms first. Before the innocent taxpayer gets stuck with the bill.
Correct. And, IRAs and 401Ks are tied to the market. Some argue this is not the case, but even the most diversified plans are tied to equities. If things go south in this country quickly, the money in people's retirements is not safe from financial upheaval. Further, if that crisis arises, our money is not safe from the Federal government either. Because what people have in their accounts is reported to the IRS every year, the government knows their value.
There are already numerous plans to seize IRAs and 401Ks if they government "needs that money" in a crisis, and to issue everyone worthless bonds.
Can't happen? Yes, it can.
I hope the Pension Guaranty board isn't going belly up because my husband depends on that pittance for his retirement, after the govt allowed a crony capitalist to bankrupt company, throwing all the workers out, losing benefits and pensions...
Exactly.
Over 70% of Americans live paycheck-to-paycheck. Of those totally dependent on state or government benefits, the figure approaches 100%.
Over 50% of Americans could not come up with $500 if they needed it for an emergency such as a home or car repair bill (think about that one).
42% of Americans have less than $10K saved for retirement.
I’ve always told myself, even at my age, if the govt steals anymore from us I’ll have to learn how to be devious and become criminal....
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