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Public Pensions are Another Form of Theft

JERRY259 Wrote: Jul 22, 2012 8:59 AM
If youexpect govt to do the right thing, than why not start with repaying the interest on the ss funds it has raided to support the wellfare system. Fire all of obamasunelected czars, fire their staffs, close their offices and void all their onerous regulations. Any new regs should start in congress. This will prompt businesses to start hiring and be an incentive for new start ups increasing more revenue through the taxex paid by the newly hired.

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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