Quote:
Originally Posted by Slipknot
there is always a good woman behind their husband politician.
I think pensions are better than 401K's because you don't have to worry about the stock market tanking.
pretty simple to me
|
"there is always a good woman behind their husband politician."
I am the luckiest guy in the world in that regard...
"I think pensions are better than 401K's because you don't have to worry about the stock market tanking"
OK, I agree with you that pensions are better for the people who receive them. But in case you didn't know this already, that money has to come from somewhere. So what about the tax burden on those who have to pay for them? You left that part out. As I said before, most major entities that still offer guaranteed pensions (social security, municipalities, and the auto industry) are facing staggering deficits and bankruptcy. Doesn't that suggest that perhaps the promised payouts are un-realistic?
Politicians have known this for decades. But they want union votes, so they say "yes" to everything the unions ask for, because the politicians know they'll be retired in Grand Cayman by the time the Ponzi scheme (and make no mistake, that's what these pensions are)implodes. Well, the Ponzi scheme is imploding. We can triple property taxes to keep paying these benefits, or we can ask these folks to live with the same benefits we have to live with. Those are the 2 choices.
I would be happy to pay more taxes if that's what cops needed to avoid living in a trailer. I don't want my taxes to triple so that they can have a guaranteed path to wealth. People who go into public service are not supposed to get rich on the backs of those they claim to serve. Public service is supposed to be about service, not guaranteed benefit pensions.