Posted on 12/28/2022 7:21:31 AM PST by Red Badger
The red flag is called “the below average Joe” in the Whitehouse.
By the time pension plans collapse I’ll be pushing up daisies.
“and who will be left without a seat,”
I’ll hazard a guess. The American taxpayer.
That’s who.
L
government pension plans are outrageous in the first place.
the government will take the last dollar from the last taxpayer, by force if necessary, to pay people not to work.....
after paying many of them to barely work for 20 or 25 years in the first place
Inflation is great for pension plans. Asset values increase, but benefit levels don’t. Just another example of how inflation steals from the savers.
Expect pension plans to look great in 10-15 years.
More importantly, the sociopaths who made the promises will be dead when the system goes belly up—leaving somebody else holding the bag.
It depends on whether the pension payouts have cost of living increases or not.
Most government pensions have those provisions.
Those 50 and under suckers can rage all they want ,but the people they voted for created this mess......ENJOY YOUR MISERY.....Don’t say you weren’t warned about the dem scams......
The obvious solution is for American citizens to have their taxes increased to pay for idiotic and exorbitant retirement agreements. Duh!
Think like a lefty!
Pensions have been mostly phased out over the last 20 years. Those grandfathered into pensions should be fine. Everyone since should have exclusive or overlapping 401ks and IRAs. Reason being, we all knew that pensions would eventually be unsustainable.
Yup—I am amused that the younger folks haven’t figured out the scam yet.
Stupid should hurt.
Ditto-I only regret I won’t be here to see the faces of the clowns and crooks who created this scenario!
Ditto-I only regret I won’t be here to see the faces of the clowns and crooks who created this scenario!
The numbers are that a little less than half of Americans have 401Ks, Roths or similar savings for retirement:
https://www.census.gov/library/stories/2022/08/who-has-retirement-accounts.html
European style “haircuts” for pension plans - to include social security.
Single person in a 3-bedroom house? Other people need those rooms. Take ‘em in and support them.
My pension plan is solvent and is sound, in part because my benefits are relatively low compared to the overly generous payments from “pie in the sky, magic money” plans like the Calif. Teachers plans. I’ll be pissed if taxpayers bail them out after they paid out so much irresponsibly.
Ya think?
More importantly, the sociopathic Congressmen and women who made changes to the retirement age for all of us will be dead when many of you decide you want to retire but you can't because of the income penalties Social Security places on you.
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