In response to:

Public Pensions are Another Form of Theft

upnorthlurkin2 Wrote: Jul 27, 2012 2:34 PM
A.) Your take on conservativism makes no sense. Free enterprise requires us be free to offer pensions, and a poor decision to fail. The problem with government pensions ought to be obvious. B.) Financial acumen: taught by a government school system in a free society that should take our lumps rather than be coddled by sheep with a vote that we might learn from our mistakes. C.) You start with conservatives and then switch to Republicans....which is it? You seem to want government enough to take care of a nation of problems which it created. Recent and current experience on how well that will work be damned. Maybe it be you who could use increased acumen...?

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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