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Over the past few decades, American companies have turned away from pensions and toward 401(k) accounts to help their workers save for retirement. That's been a terrible deal, according to a new analysis released Thursday.
Senior citizens on average drew less than $1,000 from their 401(k)s and similar accounts last year, the left-leaning Economic Policy Institute found when it looked at Census data. By comparison, seniors on average received $6,000 from traditional pensions.
The terrifying reminder that many people are headed for their golden years…
We should pay attention to Senator Sanders for a lot of reasons. The primary reason is he has consistently opposed the people that would concentrate the wealth no matter the cost to the rest of us.
If you feel so deprived, it may be just you. Look around and see the millions of working folks doing quite well.
You realize of course that the economy under obama is being supressed and along with a supressed economy goes job loss. No job, no pay. Boost the economy and jobs will rebound.
If a dem is not elected in 2016, the economy will explode and all this divisive equality BS will hardly be a footnote. Obama is sitting on a economic boon he prefers to suffocate to justify and enable his political agenda.
BS serves up a theoretical exercise in creating a no holds barred wish list, many items deserve to be repackaged and incorporated in mainstream practicality. Otherwise it is more 'free stuff' on someone else's back, which in turn boosts the 2 trillion $$ underground economy.
The corporate sector simply dumped their roles in the areas of health and retirement savings. For decades they used such benefits to recruit and retain a strong work force of loyal, dedicated people. Forty years and a gold watch. But maintaining such benefits in accordance with the law left companies holding a lot of market and inflationary risk. They decided they didn't want that anymore, so they simply dumped all that risk off onto individuals, many of whom are simply ill-suited to managing it. Corporate profits now come at the expense of individual losses, and overall social well-being declines.
International competition had probably come to mean that health and retirement burdens should have been taken off of corporate shoulders as a means of preserving global competitiveness, but in that case, it should have been government -- not the individual -- who picked up the slack. PPACA and Social Security are in the right place at the right time, but they are still too small to cover the field and handle the job. They need to be built upon and soon.
If you feel so deprived, it may be just you. Look around and see the millions of working folks doing quite well.
You realize of course that the economy under obama is being supressed and along with a supressed economy goes job loss. No job, no pay. Boost the economy and jobs will rebound.
If a dem is not elected in 2016, the economy will explode and all this divisive equality BS will hardly be a footnote. Obama is sitting on a economic boon he prefers to suffocate to justify and enable his political agenda.
BS serves up a theoretical exercise in creating a no holds barred wish list, many items deserve to be repackaged and incorporated in mainstream practicality. Otherwise it is more 'free stuff' on someone else's back, which in turn boosts the 2 trillion $$ underground economy.
This sounds like a Republican campaign promise.
If you can look around and see millions doing well, you must have some serious blinders on.
Have you seen the stagnant wages the bottom 95% have "enjoyed" the past 30 years?
Do you realize there are kids strapped with student loans costing them more than a house mortgage and who will never be able to buy a home?
Have you checked how many people in this country are working part-time jobs but are counted as being employed?
And then there's the jobs lost overseas and across the border. And what about the vanishing middle class?
But I do remember Mitt Romney, speaking at one of his country clubs, saying everyone can be rich, or some similar kind of pipe dream.
More than any other candidate, Bernie Sanders supports the little guy. And there are more little guys in this country than the elite who now own it.
Reynard32 - Please do not present the RWA's with facts. It confuses them and makes their brains hurt.
In order to provide decent retirements for the approaching glut of baby boomers I suggest we place countervailing tariffs on imports to eliminate the advantage of lower wages, lax environmental costs and government subsidies and use the money to increase social security payments. In effect create a national retirement plan available to everyone instead of just a few.
Over the past few decades, American companies have turned away from pensions and toward 401(k) accounts to help their workers save for retirement. That's been a terrible deal, according to a new analysis released Thursday.
Senior citizens on average drew less than $1,000 from their 401(k)s and similar accounts last year, the left-leaning Economic Policy Institute found when it looked at Census data. By comparison, seniors on average received $6,000 from traditional pensions.
The terrifying reminder that many people are headed for their golden years…
I'm all for letting people be in charge of their own money. Give me back all that I have paid into the SS program so I can put it in my 401k or IRA account and I'll never ask the feds for anything after retirement. I promise.
Social security is broke, we should not relinquish our money to lying politicians with utopian promises.
Broke?
No so. Not yet.
It will be if payroll taxes are not increased.
Guess we could kill Medicare and knock off 10 years+/- of longevity and kill many birds with one stone.
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