Economics and the pension

[Anonymous]

To the poster who mentioned CEO income, compensation of CEOs in 1978 was 35 times greater than compensation of average workers. Today it stands at 243 to 1.

If that wasn't enough, between 1979 and 2007 the after-tax income going to the top 1 percent increased by 275 percent. The income of the very rich, the top 100th of 1 percent of the income distribution, rose by 480 percent. No, that isn't a misprint. The average annual income of that group rose from $4.2 million to $24.3 million. For everyone else the income increase over 28 years was 21 percent, less than 1 percent a year. And then on top of that there's the disappearance of so many benefits like our defined pensions.

But you lot all seem to be zealous Republicans so you get zero sympathy because the above is what you keep voting for. The rich would thank you for your votes but they're too busy laughing at you.....

 

[Anonymous]

and many middle class people, scoff and put down those kids who are occupiers of Wall Street. Those kids are absolutely RIGHT and they are the ones most effected by this excessive "hyper greed". They sure could use some help.

Instead of you griping on here, why don't you take it to the streets.

 

[Anonymous]

No President will ever bite off the hands that feed them. Republican or Democrat. And it is doubtful that anybody in Congress will ever tackle this discrepency.
If Romney gets elected these cats will become even wealthier and greedier.

Obama likes to "pretend" that he is for the Middle Class, because that's where the majority of votes are. However, he doesn't walk the Talk.

The reason why CEO's salaries have increased is because it is rare that any of them stick around that long. So they want to ensure they can escape and retire in luxury off the Golden Parachute. They all take care of one another and sit on each others Boards in order to lobby for each others compensation packages.

Meanwhile, employees suffer.

 

[Anonymous]

Most of this entire website is a platform for ex employees, competition logging in on other sites saying negative things, employees on performance plans, or disgruntle people.

Bottom line, regardless what company you work for there is good and bad (my brother works for Apple and they even have things they are not happy with) Every company has pro and cons.

If you dont like were you work, leave and get a job with someone else.
Most companies in the US do not offer pension plans, and many that offer 401K dont hardly match if any. Those that have an enhanced plan, if you compare Abbott/BMS/Amgen/Genetech/ect, they are not as good as Pfizer offers. They match 5% and contribute an extra 3-5% addition. Pfizer's plan offers up to 9% additional to the orginal 6% match. While not as good as a Pension over a 30 yr career, it is far better than others. Also a 401K is your MONEY IMMEDIATELY! Pension are owned by the company until retirement-- the employee does not own the pension. Any BOD vote, reorganization, BK, the pension can be eliminated or reduced in value or lost! Just ask American Airlines, old Northwest Airlines, Enron, ect-- PENSIONS GONE! companies can not touch 401k because its the employees ownership immediately.

Wow! Do the HR specialists even have college degrees? An occasional typo or omissions of punctuation marks are one thing, but "dont hardly"? What year did you finish your GED, hr man/woman?

 

[Anonymous]

Most of this entire website is a platform for ex employees, competition logging in on other sites saying negative things, employees on performance plans, or disgruntle people.

Bottom line, regardless what company you work for there is good and bad (my brother works for Apple and they even have things they are not happy with) Every company has pro and cons.

If you dont like were you work, leave and get a job with someone else.
Most companies in the US do not offer pension plans, and many that offer 401K dont hardly match if any. Those that have an enhanced plan, if you compare Abbott/BMS/Amgen/Genetech/ect, they are not as good as Pfizer offers. They match 5% and contribute an extra 3-5% addition. Pfizer's plan offers up to 9% additional to the orginal 6% match. While not as good as a Pension over a 30 yr career, it is far better than others. Also a 401K is your MONEY IMMEDIATELY! Pension are owned by the company until retirement-- the employee does not own the pension. Any BOD vote, reorganization, BK, the pension can be eliminated or reduced in value or lost! Just ask American Airlines, old Northwest Airlines, Enron, ect-- PENSIONS GONE! companies can not touch 401k because its the employees ownership immediately.

American Airlines, Northwest Airlines, Enron all went BANKRUPT (AA is in the process).
Pfizer is a very RICH company due to it's employees. No comparison.

 

[Anonymous]

Bush passed the Pension Guarantee Act. It protects most pension amounts. Very few of us would ever get more money than the law protects. The 10% is pure bullshit. It likely happened prior to the law's passage.

 

[Anonymous]

Bush passed the Pension Guarantee Act. It protects most pension amounts. Very few of us would ever get more money than the law protects. The 10% is pure bullshit. It likely happened prior to the law's passage.

You keep dreamin'.

You actually think The PBGC has enough money to pay everybody that ever lost their pension the full amount of what their employer would have paid them for the rest of their lives??? Not gonna happen.

All anyone who thinks it's "pure bullshit" need do is google United Airlines bankruptcy and see what you see. Guarantee you that you wont like what you read.

 

[Anonymous]

bump

 

[Anonymous]

here are FACTS:

http://www.consumerreports.org/cro/...s-your-pension-secure-ov.htm?loginMethod=auto

 

[Anonymous]

Future retirees don't understand how bad it's going to be for them. They just don't get it!

Current retirees generally got to work until they were ready to retiree. Many of them are enjoying generous pensions (the average pension being more than the average wage of working people) and many have generous employer-paid retiree medical. They get tax breaks others don’t get. Then they have social security and of course, a very generous Medicare, which they have only paid for 1/3 of what they use. I see retirees all the time in new cars, taking fancy vacations, enjoying their boats and living a very good life. Today’s retirees are pampered. I know it and you know it too.

In the future there will be no employer pensions and very little employer-paid retiree medical. If the Republicans get their way, Medicare will be drastically cut back and Social Security will be reduced. The tax breaks for retirees are disappearing. Then we have the current corporate strategy of firing older workers to reduce costs so you won't be working until you are ready to retiree – you’ll be pitched out once you are in your fifties. Oh yes, future retirees will live in poverty or close to it – no pampering for them.

But of course, people are just too dumb to see it coming. Go ahead and vote Republican – you’ve already shot yourself in the foot so many times that one more time won’t matter. When your retirement sucks just remember you deserve it because you weren’t smart enough to see it coming - even though it was obvious!

 

[Anonymous]

Very True.

And people just lay down and take it. That's what blows my mind.

401K's in the toilet and the way things are looking,all of us will have little to retire on.
We'll be working until we Croak, while the CEO's and Hedge Funders enjoy the good life together shielded by their Golden Parachutes as we Crash.

 

[Anonymous]

http://www.pensionrights.org/publications/fact-sheet/federal-pension-insurance-protections-0

 

[Anonymous]

Future retirees don't understand how bad it's going to be for them. They just don't get it!

Current retirees generally got to work until they were ready to retiree. Many of them are enjoying generous pensions (the average pension being more than the average wage of working people) and many have generous employer-paid retiree medical. They get tax breaks others don’t get. Then they have social security and of course, a very generous Medicare, which they have only paid for 1/3 of what they use. I see retirees all the time in new cars, taking fancy vacations, enjoying their boats and living a very good life. Today’s retirees are pampered. I know it and you know it too.

In the future there will be no employer pensions and very little employer-paid retiree medical. If the Republicans get their way, Medicare will be drastically cut back and Social Security will be reduced. The tax breaks for retirees are disappearing. Then we have the current corporate strategy of firing older workers to reduce costs so you won't be working until you are ready to retiree – you’ll be pitched out once you are in your fifties. Oh yes, future retirees will live in poverty or close to it – no pampering for them.

But of course, people are just too dumb to see it coming. Go ahead and vote Republican – you’ve already shot yourself in the foot so many times that one more time won’t matter. When your retirement sucks just remember you deserve it because you weren’t smart enough to see it coming - even though it was obvious!

And just what the fuck does Barry and the dems offer you? Greece? You like whAt you see in Europes womb to tomb govt nanny state? Fucking move there. And for the pussy who posted after you about hedge funds and CEOs , get the fuck in line behind teachers. They have complained forever about their pay for 9 months work. Fuck em and you, you could have decided to get into the hedge fund industry, but went for the low risk/ low reward world of an employee of a big corp. then you couldn't reach the c-suite, look in the mirror asshole.

 

[Anonymous]

And just what the fuck does Barry and the dems offer you? Greece? You like whAt you see in Europes womb to tomb govt nanny state? Fucking move there. And for the pussy who posted after you about hedge funds and CEOs , get the fuck in line behind teachers. They have complained forever about their pay for 9 months work. Fuck em and you, you could have decided to get into the hedge fund industry, but went for the low risk/ low reward world of an employee of a big corp. then you couldn't reach the c-suite, look in the mirror asshole.

Nobody here said anything about wanting a "womb to tomb nanny state", bucko.

 

[Anonymous]

Your kid buddied up to Amy Rightgaurd?

No it was Suzee Secret.

 

[Anonymous]

Nobody here said anything about wanting a "womb to tomb nanny state", bucko.

No, but by decrying the GOP's attempts to keep the govt "entitlement" programs solvent, you most certainly cast your lot with those who feel we can ignore the fiscal/demographic time bomb that the baby boomers present. Coupled with low birth rates (especially amongst those not dependent upon govt social welfare programs), there is simply no way to continue on the current trajectory w/o ending up in the same predicament that Greece, Spain, and Portugal all find themselves in today. There are only 2 things that can be done to avoid this catastrophe - (1) reign in spending on "entitlements", defense, and all discretionary spending and (2) increase revenues to the treasury, preferably by creating a business environment that encourages growth (simplified tax code, sensible regulation, tort reform, etc). Simply take a look around the globe and even around the US to see examples of nations & states that "get it". Even a Democrat in Rhode Island (Treasurer Gina Raimondo) grasped the seriousness of future budget liabilities and pushed through reforms to ensure Rhode Island's fiscal soundness moving forward. Nations like Germany & Chile and states like Texas & South Carolina have utilized sound conservative fiscal policy in which the future looks far brighter than that of Greece or California or Illinois.

Go ahead and belittle the GOP and conservatives' attempts to keep govt solvent - the alternative is disastrous for our children and future generations. Of course, just as in the fable of "The Ant & The Grasshopper", the lefties of Greece and California will expect/demand that others rescue them from the consequences of their own irresponsible behavior... I say they can all piss off...

 

[Anonymous]

No, but by decrying the GOP's attempts to keep the govt "entitlement" programs solvent, you most certainly cast your lot with those who feel we can ignore the fiscal/demographic time bomb that the baby boomers present. Coupled with low birth rates (especially amongst those not dependent upon govt social welfare programs), there is simply no way to continue on the current trajectory w/o ending up in the same predicament that Greece, Spain, and Portugal all find themselves in today. There are only 2 things that can be done to avoid this catastrophe - (1) reign in spending on "entitlements", defense, and all discretionary spending and (2) increase revenues to the treasury, preferably by creating a business environment that encourages growth (simplified tax code, sensible regulation, tort reform, etc). Simply take a look around the globe and even around the US to see examples of nations & states that "get it". Even a Democrat in Rhode Island (Treasurer Gina Raimondo) grasped the seriousness of future budget liabilities and pushed through reforms to ensure Rhode Island's fiscal soundness moving forward. Nations like Germany & Chile and states like Texas & South Carolina have utilized sound conservative fiscal policy in which the future looks far brighter than that of Greece or California or Illinois.

Go ahead and belittle the GOP and conservatives' attempts to keep govt solvent - the alternative is disastrous for our children and future generations. Of course, just as in the fable of "The Ant & The Grasshopper", the lefties of Greece and California will expect/demand that others rescue them from the consequences of their own irresponsible behavior... I say they can all piss off...

But isn't that exactly what the GOP is asking for? Government to give them less even less regulation, less taxes and less fiduciary responsibility to their shareholders and their employees because this time they really, really will do the right thing and not lie and not cheat and not bribe and let all those riches trickle down to the little people .
Please - we have all heard this before and still you guys keep saying give more to the corps so they can then give more to us! How is that any different than saying give more to government so they can then give more to us? It is just 2 sides of the same coin

 

[Anonymous]

No, but by decrying the GOP's attempts to keep the govt "entitlement" programs solvent, you most certainly cast your lot with those who feel we can ignore the fiscal/demographic time bomb that the baby boomers present. Coupled with low birth rates (especially amongst those not dependent upon govt social welfare programs), there is simply no way to continue on the current trajectory w/o ending up in the same predicament that Greece, Spain, and Portugal all find themselves in today. There are only 2 things that can be done to avoid this catastrophe - (1) reign in spending on "entitlements", defense, and all discretionary spending and (2) increase revenues to the treasury, preferably by creating a business environment that encourages growth (simplified tax code, sensible regulation, tort reform, etc). Simply take a look around the globe and even around the US to see examples of nations & states that "get it". Even a Democrat in Rhode Island (Treasurer Gina Raimondo) grasped the seriousness of future budget liabilities and pushed through reforms to ensure Rhode Island's fiscal soundness moving forward. Nations like Germany & Chile and states like Texas & South Carolina have utilized sound conservative fiscal policy in which the future looks far brighter than that of Greece or California or Illinois.

Go ahead and belittle the GOP and conservatives' attempts to keep govt solvent - the alternative is disastrous for our children and future generations. Of course, just as in the fable of "The Ant & The Grasshopper", the lefties of Greece and California will expect/demand that others rescue them from the consequences of their own irresponsible behavior... I say they can all piss off...

I am in agreement with many of those ideas. However, I think we need to take it one step further in regards to Medicare, which will not go away.

We need to allow Medicare to Negotiate Prices with vendors.

Paul Ryans proposal on Medicare has been shot down and nobody will touch it. Baby Boomers do not want to be vunerable to Privatized Insurance due to costs. Medicare will be protected so we have to find ways to reduce the waste and costs.

 

[Anonymous]

Cuts need to be made in every single sector of government. No more corporate cronism with government contracts.

Do not allow any lobbyiests within a 120 mile radius of DC.

 

[Anonymous]

Shrink the welfare rolls and programs. Shrink the government back to what it is supposed to be.

As for the fear of capitalism......it's unfounded and insane. Capitalism is the benchmark and only form of wealth creation and progress humankind has ever devised. Everything else, especially leftistism, collectivism etc. is a collossal failure and suicidal.

Just ensure that the government does its job in refereeing capitalism and severely punishing the cheaters and our society will flourish.

Now, we have Roman Times corruption and we will self destruct. The cancer of power seeking leftists is in stage 4 and metasticized our country. But hey, keep voting for them, they truly care about you.

Voting for the liberal Republicans just puts the cancer back to stage 3. Vote for Democrats and you will perish.

Romney is no answer, just a temporary remission drug that provides only palliative care. Without true conservative libertarian freedom loving leaders, we are done.