Comments on: Guest Post: Feudal Age of Pensions? http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions.html Sun, 22 Nov 2009 05:59:54 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: VG Chicago http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions.html#comment-49578 VG Chicago Sat, 27 Jun 2009 05:23:03 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions/#comment-49578 Things are worse in the US. My father, who immigrated to this countey at 48, and only held low-paying jobs (like immigrants often do), is now receiving about $350 in social security a month. Of course, he has no private pemsion. He didn't have health insurance for most of his time in the US either. There are a lot of people like that out there, who would be first to join a revolution.<br /><br />Vinny G. Things are worse in the US. My father, who immigrated to this countey at 48, and only held low-paying jobs (like immigrants often do), is now receiving about $350 in social security a month. Of course, he has no private pemsion. He didn't have health insurance for most of his time in the US either. There are a lot of people like that out there, who would be first to join a revolution.

Vinny G.

]]> By: Brick http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions.html#comment-49496 Brick Fri, 26 Jun 2009 10:06:00 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions/#comment-49496 There is a third area of unfairness in private company pensions in that contributions by the company to pensions is tiered typically with the average worker getting the smallest contribution, senior managers are kept quiet by receiving slightly more and directors getting significant contributions. Quite why unions don't take issue with this escapes me.<br /> With higher government officials tending to feather their own nests with pay rises and pension increases, these issues are likely to boil over at some point. What we should not forget though is that public employees have traditionally accepted lower income in exchange for a better pension. What is a crime is that the money saved in wages was spent. There is a third area of unfairness in private company pensions in that contributions by the company to pensions is tiered typically with the average worker getting the smallest contribution, senior managers are kept quiet by receiving slightly more and directors getting significant contributions. Quite why unions don't take issue with this escapes me.
With higher government officials tending to feather their own nests with pay rises and pension increases, these issues are likely to boil over at some point. What we should not forget though is that public employees have traditionally accepted lower income in exchange for a better pension. What is a crime is that the money saved in wages was spent.

]]> By: bob http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions.html#comment-49478 bob Fri, 26 Jun 2009 05:27:15 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions/#comment-49478 Numbers that could change the world-<br /><br />Showing just how many pensions that the people in the house and senate have collected over a life of 'public service'. 50k a year isn't that much, but 3 of those is a really nice life here in the US. If you get a power couple they can retire to 300k a year.<br /><br />Some(most) congresspeople have worked at the local, state and federal level, with each granting a nice pension and bullet proof health insurance. This is before retiring into lobbydom and making 6 to 7 figures a year. Numbers that could change the world-

Showing just how many pensions that the people in the house and senate have collected over a life of 'public service'. 50k a year isn't that much, but 3 of those is a really nice life here in the US. If you get a power couple they can retire to 300k a year.

Some(most) congresspeople have worked at the local, state and federal level, with each granting a nice pension and bullet proof health insurance. This is before retiring into lobbydom and making 6 to 7 figures a year.

]]> By: bb http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions.html#comment-49475 bb Fri, 26 Jun 2009 04:58:07 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-feudal-age-of-pensions/#comment-49475 this is indeed a feudal system with the government being the new church and big business executive being the feudals who do not need pension at all.<br />it is not enough that public workers live their whole parasitic life on the 'right' to tax the productive part of the society, but they are owed the right to a generous pension again guaranteed by the 'right' to tax the serfs.<br />we all know how such inequitable schemes end. this is indeed a feudal system with the government being the new church and big business executive being the feudals who do not need pension at all.
it is not enough that public workers live their whole parasitic life on the 'right' to tax the productive part of the society, but they are owed the right to a generous pension again guaranteed by the 'right' to tax the serfs.
we all know how such inequitable schemes end.

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