What do you think pension funds are? Cradle-to-the-grave socialism?
Chickens are coming home to roost, that's all.
What do you think pension funds are? Cradle-to-the-grave socialism?
Chickens are coming home to roost, that's all.
I don't think they're cradle-to-grave socialism. At the percentage rates they're paid out to rank-and-file workers, they shouldn't be considered as such.
If I were running a company, I wouldn't even have pensions. Assets that don't go into pensions are thus available for expanding the company, seeking out new markets, hiring needed employees, etc.
I'd have a good 401(k) or other savings plan that any worker or CEO could contribute to with whatever amount he saw fit. I'd also lobby for lower individual and corporate taxes so that the rank-and-file could afford to contribute to these plans. Socialist Insecurity will not be enough in the future, I'm sure.
If my company did do pensions, however, you can rest assured that I wouldn't indulge in screwing over the rank-and-file workers so that I could enrich my own retirement with impunity. So there.