Posted on 08/17/2011 5:43:05 AM PDT by shortstop
There are some prominent families that have sent their sons to war; there are not many. Honest military demographics are hard to come by, especially now that Prof. Moskos has passed.
There goes the career military force and all that experience. This is one of the stupidest proposals I have ever heard.
Then throw in discharging all those who do not enthusiastically embrace the new politically correct diversity, and you have a “bloodless” purge of our military.
Josef Stalin is smiling from the pit of Hell.
And yet his wife, whenever she is NOT vacationing (didn’t make it to Dover the other week, did she?) and Biden’s hapless wife wrap themselves around military families for the PR and good Photo-ops (like O’bummer)...
Military families need to say NO to being used and abused by this admin...
It's surprising so few FReepers understand that the pension crisis in this country is with Defined Benefit Pensions not 401K's. I think the debate should be what is the % the govt contributes to these fine men and women's accounts.
A 401K is the most liberating type of pension there is. It travels with the individual and can not be arbitrarily reduced by the employer/govt. OTOH, social security benefits will be changed by the govt.
Six Days in May.
“I understand the outrage at singling the military out, while continuing to pour billions for (much) less worthy folk in the rat hole...however, I’m fairly certain the income from a 401K, conservatively invested, after 20 years can exceed a 1/2 pay pension.”
You’re missing something—currently the military retirement annuity is based on a Principal which never decreases; a 401k annuity decreases the Principal. There really is no comparison here.
Obama knows it has been his attention to his promise to “fundamentally change America” and I cannot think of a single policy he has supported -nor law he has signed proudly to suggest he is anything but an ENEMY of Our Country And to accomplish his goal he must divide America, he must destroy our Patriotism— and must necessarily destroy our Military. He has done more HARM to America via his policy and his support
than any foreign Army has ever been allowed. And I am reminded of Abe Lincolns address to the Young Mens’ Lyceum
that we would live through all time as Freemen or die by suicide. America may have been beguiled by the Beguiler to accept the hemlock but I shall have no part in helping another drink it.
That truck driver making $200K a year is still costing less than the private in the Army who used to drive the truck. The difference is that the driver gets much of the cost directly, while the private costs in training, benefits, housing, etc.
The truck driver will be done in a few years, and then be gone. He will not cost anything more the day he stops working. The private will be a long term cost.
Similar thing in business. You hire contractors to do what you used to do in house, because it cost much less in the long term. My old job hired a bunch of contract engineers to do a project, and paid them $150K for a year. That is much less than they would have paid a full time engineer to work for the company for 5 to 7 years at $60K.
“There are some prominent families that have sent their sons to war; there are not many.”
I don’t meet them. Anyway, how many of these wealthy kids want to enroll in college to study Criminal Justice when they come home?
Bottom line here, I am talking about the majority of veterans, not the demographic exceptions
“I don’t know the exact numbers, but, the power of compound interest is a mighty thing...”
...said the old hedge-fund manager to the young soldier”.
Totally disagree, wmfights.
These pensions are not "benefits." They are deferred pay. As such, the government has an obligation to pay up.
The military is the one group mentioned in the Constitution that should be provided for. The military have received real compensation since Washington gave land grants to veterans for services rendered, NOT as a "benefit" but as a recognition that the pittance they received while fighting was nothing compared to the priceless labor performed.
This is COMPENSATION, deferred pay, and it shouldn't be lessened a single penny by market forces.
Any plan must include the government GUARANTEEING a certain payment per month despite the size of any 401k.
I have no doubt you are correct. The military represents everything he doesn't have character, strength, leadership, competence and values.
However, the defined benefit pension is a dinosaur. It is going extinct. This type of pension requires a steady growth in market share to pay for the ever increasing benefits that need to be paid out. A 401K is controlled by the individual is owned by the individual and once the contributions are made by the employer into it the employer can no longer touch the money or affect the benefits.
Under the current system a member has to become "vested" in order to receive benefits. If they don't fulfill those requirements they get nothing. However, with a 401K all monies put into that account travel with the individual. I think the latter system is more equitable especially for a combat vet that leaves the service early.
Totally disagree, wmfights.
These pensions are not "benefits." They are deferred pay. As such, the government has an obligation to pay up.
The military is the one group mentioned in the Constitution that should be provided for. The military have received real compensation since Washington gave land grants to veterans for services rendered, NOT as a "benefit" but as a recognition that the pittance they received while fighting was nothing compared to the priceless labor performed.
This is COMPENSATION, deferred pay, and it shouldn't be lessened a single penny by market forces.
Any plan must include the government GUARANTEEING a certain payment per month despite the size of any 401k. ALL money in the 401k to reasonably reach that level, premised on a lousy low-performing market, MUST be paid by the U.S. and not by the military member.
“Which is why we now use mercs for many roles.”
Countries and empires in decline have hired merceneries to do their fighting throughout human history.
start by eliminating Congressional pensions....
That’s interesting, I found that Criminal Justice was one of the more popular academic concentrations among ROTC students and returning soldiers. Typically, the more math involved (Biology, Physics, Finance, Chemistry, Statistics, etc.) the less inclined our cadets and veterans were to concentrate in it. This corresponded to the student body in general, with specific demographic exceptions.
Obamas job is to gut everything.
B U M P
If I recall correctly, there was a point back in early 2000 timeframe where they opened up the TSP for military folks, but it was pretty restrictive and I was on my to retirement, so didn't do anything with it.
Personally, I'd rather see the military folks get about a 14-16% raise, get expert financial counseling/planning and then be able to manage their retirement planning without the gov't dictating when and how much they're going to get.
Oh, and no raising all of the damn prices on base, dental premiums, uniform costs, etc. just like you bastards do everytime the military folks get a raise. You take it right back.
But, until the effin' PARASITES who feed off the host are eradicated, FUBO and all you other bastards who propose the military get their heads handed to them!
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