My thoughts - make it law - no more pension ''PROMISES'' pay it every week into their account - account cannot be touched by Company . No adjusting for inflation - the pensioner has to stand on their own feet with the money in -THEIR- account . Stop the lies and the crap of -WELL JUST RAISE TAXES AND GET US OUR MONEY- .
PRESIDENT TRUMP 2024/2028 !!!!!!!!!!
Posted by Bristoe The people wringing their hands over Trump's rhetoric don't know what time it is in America.
Years ago I worked for a small seed company. Shortly before I left, they started a pension program. Maybe 10 or 15 years later, I ran into one of my former co-workers who had also quit. He said they'd raided the pension fund to do an expensive remodel on the office.
My brother worked for one of the big banks. He retired early and got his money out of their pension program and into an IRA. He said they were doing some kinky things with the pension account and the smart ones were pulling out.
“In a time of deceit telling the truth is a revolutionary act.” ― George Orwell
It's not over when you lose. It's over when you quit.
My opinion is there is a ton of money to be made with the pot industry but it isn't the government making it. Most places, from what I have been told, are a cash business and don't utilize banks. Down the road when initial money that was made will go out the window paying for mental health issues by the state. In my travels all across Colorado, I see a pot shop in almost every town and more often then not a big black luxury car parked out front.
My opinion is there is a ton of money to be made with the pot industry but it isn't the government making it. Most places, from what I have been told, are a cash business and don't utilize banks. Down the road when initial money that was made will go out the window paying for mental health issues by the state. In my travels all across Colorado, I see a pot shop in almost every town and more often then not a big black luxury car parked out front.
Since marijuana is illegal on the Federal level, it's also illegal for credit card companies, and banks to deal with it, hence the cash only side of it. It also sets up a burden for the states that legalized it, as they are limited on what they can do with the taxes from it, due to Federal laws, at least this seems to be Alaska's issue.
Any company with a pension plan or profit sharing does not interest me. They use it to attract and hopefully retain employees, then can adjust profit, have one work X amount of years before vested, or raid the pension. 401K plans are much better, they still can make you wait until you're vested, but you take every dime with you after that, and it can be rolled over into an IRA.
I have friends who want to retire but can't due to the pensions being raided.
All of the recent interest in legalizing marijuana is because states need the tax revenue from it to pay government pensions.
Do you have a source to support that statement??
Jim
Common sense. States don't have a Federal Reserve. They can't print money out of thin air. Most states in the country are underwater on their pension plans. The Boomer generation is hitting the retirement rolls at a record pace and states have to come up with money from somewhere to fund their pensions of those who are retiring.
The real issues are how public unions lobby. In the private sector, even in a union state, management represents the interests of the business providing some check on benefits. In the public sector you basically have unions who represent the beneficiaries and the people who should be representing the taxpayer, the political class, are receiving millions, 10 of millions of dollars in campaign support from the unions. The normal checks and balances in the labor/management system don't exist.
In states where you have large Democratic majorities and the R's have little influence (NY, MA, IL, NJ, and CA) its just a feed back situation where the pensions are out of control. The Democratic majorities have allowed the systems to get totally out of hand. None of these things would happen( at least to the same magnitude) in the private sector where there is oversight and its resulted in huge pension unfunded liabilities for the affected states.
Ideally public unions shouldn't be able to lobby, fund candidates or PAC's or influence or suggest voting preferences to members. Since this isn't going to happen sates should try to move away from pensions to 401 or 403 type retirement plans.
The collection of taxes which are not absolutely required, which do not beyond reasonable doubt contribute to public welfare, is only a species of legalized larceny. Under this Republic the rewards of industry belong to those who earn them. Coolidge
you mean that damn bomb, among many others haven't gone off yet? what are they waiting for? armageddon or something?
among the gov't, the federal reserve, and the physical money printing presses, and electronic digital funds, there's bigger fish to fry than the pension bomb.
how about a theory that allows us to reduce the population of humans on the Urth in a compassionate, and humane way? ain't one is there?
I have been arguing for years that it would be better for our kids and grandkids to be able to put up money for their won retirement. If the government wants money for indigents then let them try and tax for that. It might be a surprise to a lot of people just how much money goes to people that have never worked. There has to be better alternatives to government run medical and social security. It's all a ponzi scheme.
we're not going to really prosper and survive until given the broad options as tax-paying individuals as to how we want our taxes allocated.
we're giving the elected officials that right & responsibility and they have fouled it up greatly. they didn't do what we asked them to do.
now, with the electronic data-systems as finely tuned as they are, we can allocate our tax funds to the requested expenditures that we want to make by category.
the rights of the citizens can again exert themselves, and the elected puppets of the lobbyists can step out of the picture on that one.
it's going to take a popular uprising. i'm not sure trump is ready to initiate such a decision process, but his successor in 2024 might well be willing to.
as long as we are being forced to pay taxes for things we don't want to "buy" then we are being enslaved. involuntary servitude is another word for it.
Guys This is nothing new. Here is an article from 2006 about the public pension problem. Of course the recommendations in the article were ignored by the politicians.
"This study shows how greater fairness for New York taxpayers and competitive retirement benefits for government employees can be achieved by switching from the current defined benefit (DB) pension plan to the savings-based defined contribution (DC) model used by the vast majority of private companies."
"Skyrocketing pension expenses have been a major factor in the fiscal stresses afflicting every level of government in New York State. From 2000 to 2005, statewide public pension contributions soared by more than $5.6 billion-and they are still climbing."
I’m gonna be collecting my teachers retirement soon. I hope there is enough money to pay for awhile.
It won’t be very long if our government expects people on Walmart wages fund it. Our current President understands a strong manufacturing based private sector is needed to pay for it. Too bad most other politicians can’t figure that out.
people are living a lot longer, in general and on average. and that's good. speaks well of our medical, pharmaceutical, and safer industries. no body getting kilt at the sawmill, what a concept!
what we're facing is folks living longer. maybe retirement should be extended further out, to say 75 or 77? i don't know. pick a number, and we'll vote on it.
why should people receive anything from the gov't after retirement? is it based upon tradition, or expectation, or greed, or something else?
why are the gates down on our southern perimeter and folks are flooding into the country to eat the resources that are here?
