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View Diary: Protecting Social Security: Let's Tell The Deficit Commission Not to Slash Entitlements (261 comments)

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  •  The health of your employer (0+ / 0-)

    shouldn't have a bearing on your pension.  Pension funds should be managed correctly, and the managers of these funds should follow fairly conservative investment principles, not stock market roulette, which has been encouraged by 10 years of bad pension legislation.

    And good for you if you've managed to skip from job to job, remaining employed, and keeping your investments growing while swimming in the pool with the big sharks.  Many other people are not so lucky, and it's unfair to expect every working American to be able to play that game with all the financial insiders scheming to make them lose.

    And what about when it's local and state governments?  And then the bills for the promised compensation land on your and my desks, right?

    Theoretically, those bills should NOT land on our desks, which is what I said earlier.  We are not the ones that stole those workers' promised pensions. Those pensions are part of the wage those employees were promised, and those promises should be kept.  The fairest thing to do would be to use a transaction tax on the wall st. brokers to make up the shortfall.

    •  BAWOOGAH! (0+ / 0-)

      The health of your employer (0+ / 0-)
      shouldn't have a bearing on your pension.  Pension funds should be managed correctly, and the managers of these funds should follow fairly conservative investment principles, not stock market roulette, which has been encouraged by 10 years of bad pension legislation.

      Shoulda woulda coulda.

      And I should have a hot 17 year old mistress slightly dressed in lingerie pouring me a brewski right now.  Looking around... Bambi, where are you?  DAMN!

      In addition, say you've paid into your defined benefit pension for 18 years, but you need 20 for a full pension, and then your employer goes bust?  Or you've paid in for 4 years but need 5 years to vest at all?

      And good for you if you've managed to skip from job to job, remaining employed, and keeping your investments growing while swimming in the pool with the big sharks.  Many other people are not so lucky, and it's unfair to expect every working American to be able to play that game with all the financial insiders scheming to make them lose.

      No one makes you quit a job and take a new one.  But you should have the option to do so without taking a hit on your retirement fund.  That means defined contribution and portable plans like 401Ks.

      And what about the ones who don't have a choice - who get laid off?  In your model they get screwed if they haven't put in the time to fully vest.

      And what about when it's local and state governments?  And then the bills for the promised compensation land on your and my desks, right?

      Theoretically, those bills should NOT land on our desks, which is what I said earlier.

      And theoretically my 17 year old mistress should be giving me a foot rub right now.  "Hey, Bambi, where the F... are you?  Get over here and rub my feet!  Bambi? Bambi?"

      The fairest thing to do would be to use a transaction tax on the wall st. brokers to make up the shortfall.

      WTF?!?  How's that fair?  They're not the ones who decided to underfund state pensions.  Moreover, I'd end up paying it because I hire those people to manage the part of my IRA in mutual funds and I pay them every time I buy and sell stock.

      The fairest thing would be to use a tax on the pensions and incomes of current and former governors, state legislators, managers of whatever government body has a pension shortfall, and managers of the pension fund with the shortfall.

      But our lords and masters aren't going to do that... they'll take it out of your and my pockets.

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