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> It's questionable whether a) there is growing inequality I am wondering if your talking about UK and not US? In US it is not questionable the gaps are certai
by baldfat 11y ago
> It's questionable whether a) there is growing inequality
I am wondering if your talking about UK and not US? In US it is not questionable the gaps are certainly greater.
http://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality http://www.cbpp.org/research/poverty-and-inequality/a-guide-...
https://www.washingtonpost.com/news/wonk/wp/2015/05/21/the-top-10-of-americans-own-76-of-the-stuff-and-its-dragging-our-economy-down/ https://www.washingtonpost.com/news/wonk/wp/2015/05/21/the-t...
> b) more equal times (eg the 70s in the UK) were preferable for anyone. (Soft science?)
In terms of poverty we could certainly do MUCH better.http://www.nytimes.com/2014/01/05/business/50-years-later-war-on-poverty-is-a-mixed-bag.html?_r=0 http://www.nytimes.com/2014/01/05/business/50-years-later-wa...
In terms of working middle class. Does anyone even have a pension anymore? 401K are not pensions and well it is scary. Also the rate of pay has stayed stable despite to record profits. http://monthlyreview.org/2014/01/01/the-plight-of-the-u-s-working-class/ http://monthlyreview.org/2014/01/01/the-plight-of-the-u-s-wo...
- pc86 11y agoPensions don't work. The fact that they're disappearing is proof of that. The entire concept of being legally required to provide a certain monetary benefit in 2060 based on someone's work now is crazy. > 401K are not pensions and well it is scary. Why? Your benefit is based on the actual money you have. That's just math, as opposed to smoke and mirrors with pensions where the money may or may not actually be there 50 years from now.
- baldfat 11y agoPensions work 100% but they cost money SO instead of paying pensions we have more profits which benefits the wealthy? The whole stock market profits the same people. That people have to pay into the market for them to have a retirement plan also benefits the same wealthy people. When people's 401K fail then the government has to pay for the companies for not providing for their employees. http://time.com/money/3624637/401k-retirement-problems-getting-better/ http://time.com/money/3624637/401k-retirement-problems-getti...
- pc86 11y agoDon't pensions rely on the market in order to remain solvent? Where does the supposed gain come from? Either it comes from the markets, in which case the workers are better off investing in the market directly, or it comes from the people paying into the system today, in which case it collapses as soon as the debits exceed the credits. And no it's more like "pensions work 75%"[0] [0] http://abcnews.go.com/blogs/business/2013/04/insolvent-union-pension-plans-may-double-by-2017/ http://abcnews.go.com/blogs/business/2013/04/insolvent-union...
- baldfat 11y agoPensions rely on payments. Now those payments do get invested. Pennsylvania just didn't make payments for 10 years for teachers and state workers and that kind of causes problems. Also 65 might be to low a number now but that is another issue.
- pc86 11y ago> Pensions rely on payments. Meaning that the system collapses if you don't have new people continually paying into it? I think that already has a name.
- baldfat 11y agoNo the state just didn't pay their bill. Now we are paying much higher to catch up! Last time I looked PA has millions of people.