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Yeah, I think the massive downturn in the real estate and stock market a couple of years ago put it on the front burner, however I also suspect that some simmering resentment boiled over from all of the folks who were now working in jobs without defined benefit pensions. The number of private industry jobs offering defined benefit pension plans have significantly evaporated the past few decades, so this likely contributed to the pension resentment.
To me, the starting point always comes down to the question of the pensions being self sustaining, assuming both the employee and employer made the required contributions, and the money was invested for growth. If they are self sustaining, I don't support the resentment.
Not sure if we have had this conversation but I have said it before and folks have often agreed. A part of the resentment is retired transplants. We move to areas that are often lower cost of living and come with benefits income and health care and never go to work and have a high standard of living. Migration to warmer climate states just contributes to the resentment. Think about it person A has a pension etc and never goes to work and person B is unemployed and never goes to work. Somehow they aren't equal.
I could see that adding fuel to the fire, especially when they see the retirees out and about in restaurants or retail centers.
I just think it is a shame that we don't focus on trying to come up with long term fixes that make life a bit better for everyone as they grow old, instead of throwing stones at those who are comfortable.
"As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude. State and local government pension plans are woefully underfunded, dozens of large corporate pension plans either have collapsed or are on the verge of collapsing, Social Security is a complete and total financial disaster and about half of all Americans essentially have nothing saved up for retirement. So yes, to say that we are facing a retirement crisis would be a tremendous understatement."
People will write anything if they think they can get someone to read it. My husband said he read exactly the opposite of this in an article. There is no crisis except in the mind.
Can you really tell if someone in a restaurant or mall is a retiree? Anyway, I'm sure all those restaurant and store owners are mighty glad that somebody has money to spend so they don't go out of business. Alot of retirees have gone to places that have really benefitted from the money they spend. What's next? After 62, you can't move anywhere!
Can you really tell if someone in a restaurant or mall is a retiree? Anyway, I'm sure all those restaurant and store owners are mighty glad that somebody has money to spend so they don't go out of business. Alot of retirees have gone to places that have really benefitted from the money they spend. What's next? After 62, you can't move anywhere!
business loves retired transplants but not everyone does who has a lower standard of living. I just had a conversation with another retired transplant who knows a guy from up north who is a electrical contractor and their are areas he won't go into because of the hostility towards transplants. Surprised me but in another way didn't.
Can you really tell if someone in a restaurant or mall is a retiree? Anyway, I'm sure all those restaurant and store owners are mighty glad that somebody has money to spend so they don't go out of business. Alot of retirees have gone to places that have really benefitted from the money they spend. What's next? After 62, you can't move anywhere!
On week days often yes. What is the difference between being 60 and unemployed vs being 60 and comfortably retired in SOME areas? Malls are another story because most people there are comfortable and shopping at usually not the lowest prices. Are you familiar with Life Line Screening at all? Transplants in a number of areas have driven the costs of a number of things up especially housing.
Social Security could be easily fixed by eliminating the cap, (Yes, tax the rich)
Limit who recieves it, If your collecting 2ooK a year or more do you really need 1500 a month from SS??
This comment was from the first page and I haven't read through all of the posts but I don't agree with the concept of punishing those who have been successful. What is being suggested is that wealthy people should be taxed far more than anyone else and yet they shouldn't be allowed to receive any Social Security whatsoever. I just see this as being unfair. I'm not necessarily opposed to eliminating the cap, I'm merely stating that every taxpayer should receive a Social Security income based on the contributions that they've made.
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