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Public Pensions are Another Form of Theft

88wrenchman Wrote: Jul 21, 2012 9:05 AM
Voting republican is not enough, you must then hold their feet to the fire because they still won't do what requires courage without the electorate browbeating them. After all, they're still politicians. Being less destructive is not good enough anymore.

There is a dirty secret about state entitlements that liberals don’t want you to know. The collection of a state pension increases the chances that a pensioner will live in poverty. That’s because money put aside for state-guaranteed benefits can not be safely invested at rates that provide for more than a modest retirement unless the state subsidizes retirement benefits through taxes or if retirement savings are invested in riskier, higher yielding investments. Since governments are loath to raise taxes to subsidize a riskless retirement, benefits are eventually reduced. It works that way in London and Moscow as well as Madison...

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