Quote:
Originally Posted by wdmso
I love how you hide behind Freedom your not looking for freedom.. your looking for fairness .. your looking to remove freedoms (colective bargining ) because you dont have it .. some one looking for freedom does not reach in to others pockets .. you have freedom you made your choices now try accepting them.. do I think you shouldn't get Social security because I am not eligible to collect because I paying to my own pension and dont have the quarters .. of course not ,
again who screwed the American worker companies ..
The History of the Pension
For generations, pensions were the retirement plan standard for just about every employer. This may be hard to believe, but it wasn’t until the early 1980’s that 401(k)’s even existed. Ironically, 401(k)’s were originally added to the IRS code as a way for companies to offer additional retirement benefits to high ranking executives, above and beyond their defined pensions. This didn’t last long.
Over time, most employers have made the shift from defined benefit pensions to 401(k)’s. 401(k)’s were sold as the fresh new thing, giving employees all of the power to choose their own investments. In reality, they were often times a low to modest cost savings over their defined benefit counterparts. The combination of the appeal to the American individualistic ambition and cost cutting possibilities were the perfect storm to sell 401(k)’s over their elder relative.
|
"your not looking for freedom.. your looking for fairness "
Freedom and fairness are not mutually exclusive. And if I am looking for fairness (which I agree I am), what are you looking for?
"your looking to remove freedoms (colective bargining ) because you dont have it "
Wrong. I would remove collective bargaining not because I don't have it, but because it leads to crushing debt. I have provided hard data to back that up, at least in my home state of CT.
"do I think you shouldn't get Social security because I am not eligible to collect because I paying to my own pension and dont have the quarters .. of course not "
Here's the difference...if you are not eligible for SS, that means you don't pay into SS. So my SS benefits do not impact you one cent, so you have no reason to care.
"they (401ks) were often times a low to modest cost savings over their defined benefit counterparts"
That might be the stupidest thing ever posted on the Internet. With 401ks, companies typically contribute 3% of a person's salary each year. You're going to say with a straight face, that my company could give me a pension with that same 3% contribution?
Here's an annuity calculator. I figured out that to pay for an annuity of 50k a year for 27 years,. assuming growth of 6% per year, you'd need to start with $700,000. You think you can accumulate that much, by putting 3% of your salary into an account each year?
http://www.bankrate.com/calculators/...alculator.aspx