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Public Pensions are Another Form of Theft

Matthew5 Wrote: Jul 21, 2012 6:59 PM
I agree and will be in the same boat. The wife's job will help when I retire and her insurance. It would have been nice to have options with my retirement but they give you none and do what they want with it.

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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