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Thread: Alan Greenspan : entitlements (pensions, health plans....) bring the economy down.

  1. #1
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    Default Alan Greenspan : entitlements (pensions, health plans....) bring the economy down.

    Alan Greenspan : entitlements (pensions, health plans....) bring the economy down.

    https://www.cnbc.com/2019/04/12/alan...nt-burden.html

  2. #2

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    The initial decline of Detroits Big Three was exactly this.
    If you compare the current Nissan or Toyota $38 per hour wage and benefit costs ( almost no retirees supported ) to
    GM, Ford, Chrysler $75 per hour wage and benefit costs (each employee supports 4 retirees ) - it's easy to see what pensions do to economic competition.

    The employees all make $20 to $25 an hour no matter the signage on the building.
    The surrounding community has many more lives funded by the Big Three than the Japanese Manufacturers.

    That's the PRIVATE aspect. One set of companies economically advantaged over the other by past decades of benefits.

    Worse is the PUBLIC aspect. As bankruptcy propagates - the Pension Benefit Guaranty Corporation assumes the burden, although nickels and dimes on the dollar will be paid. https://www.pbgc.gov/

    This is simply pensions.

    Social Security NEVER had the investment funding to continue indefinitely. You made the payments every pay day.
    Your employer matched it.
    Your government borrowed and spent it without capacity to repay it - UNLESS THEY TAX YOU AGAIN.

    Have you ever handed a dirtbag $500, so they could go buy a pistol to rob you with later?

    Just asking ...
    - UPDATED-
    2.4 BILLION people still cook with manure as their fuel.
    3.0 BILLION more people will be born in the next 30 years.

    IEA, Number of people without access to clean cooking by scenario, 2021-2030, IEA, Paris

    More energy. Not less.

  3. #3

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    IMHO, and needs to be addressed the most about the SS. Scam....

    One can and many do every single dam day die before they can collect a penny of the SS. Scam and FICA taxes they and their employers have paid, collectively billions of dollars and not get one bloody cent of it back!

    True it is, and put right thieving of ones labor that IMHO is worse than 99% of crimes committed today.
    Small business is the incubator of employment. As it declines, so too do opportunities for first jobs, second chances and economic independence.

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