Comments on: Guest Post: Pensions Apartheid? http://www.nakedcapitalism.com/2009/06/guest-post-pensions-apartheid.html Sun, 22 Nov 2009 23:47:30 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: walex http://www.nakedcapitalism.com/2009/06/guest-post-pensions-apartheid.html#comment-49510 walex Fri, 26 Jun 2009 14:58:07 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-pensions-apartheid/#comment-49510 «<i>In the new era of pensions apartheid, nothing is sacred, including your public pension plan.</i>»<br /><br />That is absolutely false: one thing is sacred, and it is generous, defined large benefit pension plans for CEOs, board members, executives.<br /><br />The logic here is the same as Homel's: that public sector workers are as unproductive and undeserving of a pension as private sector ones, while the heroes of productivity and creativity, the strategic managers that create all of value, deserve generous rewards.<br /><br />«<i>firms looking to attract the best and the brightest to their companies better bolster their pension plans and their pension packages, committing the necessary resources in good times and in bad times.</i>»<br /><br />That's exactly the logic: the more generous the rewards for the top 1% of best and brightest the more they are incentivized to produce and create, while cutting the deferred compensation of parasitical public employees to the level of worthless private sector ones allows for reducing taxes on the "best and brightest", rewarding them even more. «In the new era of pensions apartheid, nothing is sacred, including your public pension plan.»

That is absolutely false: one thing is sacred, and it is generous, defined large benefit pension plans for CEOs, board members, executives.

The logic here is the same as Homel's: that public sector workers are as unproductive and undeserving of a pension as private sector ones, while the heroes of productivity and creativity, the strategic managers that create all of value, deserve generous rewards.

«firms looking to attract the best and the brightest to their companies better bolster their pension plans and their pension packages, committing the necessary resources in good times and in bad times.»

That's exactly the logic: the more generous the rewards for the top 1% of best and brightest the more they are incentivized to produce and create, while cutting the deferred compensation of parasitical public employees to the level of worthless private sector ones allows for reducing taxes on the "best and brightest", rewarding them even more.

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