Sounds like a PLAN!
A PLAN to bankrupt the system sooner rather than later.
I know Ohio is proud. How do idiots like this get elected?
And not one so-called reporter had the nerve to ask him about that? In a sane society his plan would be mocked and jeered out of existence.
Why stop at 60? Let’s lower the retirement age to 1. Then we can all enjoy the benefits as soon as we can walk.
That has to be one of the craziest ideas I’ve ever read!
Why not just open a UFO Wash and Wax joint in every city?
Kucinish is a small minded populist. Small minded in the specific...
When failing US employers use employee buyout strategies to lower short term labor costs, the costs don’t disappear, the managers of the business have made the cynical decision to shift the pension and retirement costs onto future business managers and in many cases to the Pension Benefit Guaranty Corporation (PBGC). This is a pure agency conflict of interest to shareholders.
This is also why employee owned companies do NOT buy out senior employees when the corprate governance structure is properly functioning.
The United States of America corporate governance structure is NOT properly functioning. The remaining US taxpayers (of a younger median age after the hypothetical applicatoin of Kucinich’s plan) would be funders of the the Pension Benefit Guaranty Corporation (PBGC)!!
At a time where business leaders and economists of all political and philosophical stripes can agree on very little, one of the agreed upon points is the requirements of the US economy to INCREASE productivity in the coming years.
Kucinich here is actively attempting to decrease productivity AND increase the tax costs of the remaining employees who are working at a lower productivity level. Kucinich is also actively promoting the same agency conflict of interest that the leveraged buyout wheelerdealers of the 1980’s and 1990’s had where they would gut the newly acquired company of assets (in this case institutional muscle memory and knowledgebase) to reach short term goals (in this case Kucinich and the Democrats their self serving goal of getting reelected in 2010 and tangentally keeping themselves in the Congressional pork though for another election cycle)
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This plan also flies in the face of every MSM financial advise column I’ve read in the last 2 years regarding extending working years vs. retirement.
This idea is too stupid to even comment on...
THAT is not creating jobs.
That is a ponzi scheme from old Kucy Kucy
Does the term “Dickhead” ring a bell?
On his brightest day Charles Ponzi could have never thought up a scheme so brilliant.
for the GenX ping list.
Hey, if Obama would have dumped all those Stimulus funds into Social Security, Kucinich’s bizarre plan might have worked — but it’s much too late for that now.
And before you start ragging on me as “a socialist”, just remember how many times those same politicians have raided Social Security — and how many times that politicians have pandered to special interests by adding everyone from drug addicts to foreigners who’ve have never put a cent into the program, onto the Social Security rolls. Stranger plans that Kucinich’s have made their way into law — making Kucinich’s idea, weird as it may be, pale by comparison.
Hmmm. Return on most savings & investments right now is close to zilch. Major inflation is looming. Threats of huge new taxes. Sounds like a HORRIBLE time to take early retirement and move to a fixed income right now. I think most people realize that. Stupid plan.
DTogo’s plan: immediate termination of every member of Congress, and several Federal Departments/Agencies.