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We have assets in the stock market by way of several broad index mutual funds, the expense ratios range from 0.05% to 0.14%, with an aggregate of approx 0.08%. Do you seriously consider this being robbed blind? How is even possible to be "robbed" when you voluntarily agree to pay a certain fee for a service?
He seems to be a conspiracy theorist. .05% of your or my net worth is probably all he has to his name.
Nor were amounts cited in the story (yes a graph at the end showed what cuts could happen to random amounts, we all know what half means, but what are these guys actually getting?).
I can't imagine many scenarios where a 50% cut to a pension wouldn't be devastating to someone's retirement.
From $2,000 to $1,000? From $3,000 to $1,500? How many retired people on pensions have that kind of slack in the budget? I submit very few. This could take people from middle class to trailer park.
if everyone worried about themselves and took care of themselves we wouldn't have to have concern so much about others . in fact i may have concern about others i don't know but i can't say i worry about them .
if everyone worried about themselves and took care of themselves we wouldn't have to have concern so much about others . in fact i may have concern about others i don't know but i can't say i worry about them .
Tossed aside? It's almost impossible to get kicked out of a government job unless you're in Detroit, kill someone, rape someone, steal something, commit a crime, or don't do what's asked of you.
The subject is private companies.
As Martha Stewart might say, reading comprehension is a good thing.
Ironically, those city/state workers who will have thier pensions cut all around the US were most likely life long union democrats.
Isn't it funny that the irresponsible spending by those cities and states advocated by democrats (the very ones they voted into office) created these shortfalls.
Ironically, those city/state workers who will have thier pensions cut all around the US were most likely life long union democrats.
Isn't it funny that the irresponsible spending by those cities and states advocated by democrats (the very ones they voted into office) created these shortfalls.
"Elections have consequences."- Barak Obama
Pensioners have been bratwurst by ALL corrupt politicians and union leaders and most importantly the corrupt Fed who are all just stooges for the Billionaire Class. There is simply no escaping the corruption that permeates there economic and political power levers that control or society. The "why me worry" that permeates the electorate just reinforces this overarching problem. The current direction that this attitude puts our country, our neighborhood, our families is clearly downward.
However, the current political insurgencies in both parties does indicate that the electorate is beginning to rise up against the Establishment corruption that is destroying our pension system and the greater economy that took 100 years to build.
I can't imagine many scenarios where a 50% cut to a pension wouldn't be devastating to someone's retirement.
From $2,000 to $1,000? From $3,000 to $1,500? How many retired people on pensions have that kind of slack in the budget? I submit very few. This could take people from middle class to trailer park.
What you are saying is really just another way of saying "Very few save enough to cover their own retirement".
It isn't quite true.
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