 |
 |
How to pay transition costs
December 06th 01:33:14 AM
Former Chilean Labor Minister Jose Pinera has a suggestion:
"In Chile we had state-owned enterprises. In America I understand that the federal government owns a third of the land. I don't know why the government owns land, and I don't know the value. Nor am I saying that you should sell the land tomorrow. What I am saying is that when you consider privatizing Social Security, you must look at assets as well as liabilities. I am sure that the U.S. government has gigantic assets. Are they more or less than the liabilities of the Social Security system?"
Posted by Chris Schrimpf
Comments
It's true. This idea has been around for years. Unfortunately, most of our elected representatives don't have the creative bandwidth to do something like this.
Posted by Adam Cahn on December 06th 02:19:07 PM
According to the Census Bureau, there are 2657 state and local governemnt retirement systems across the USA which "own" $2.2 trillion in stocks, bonds and real estate....that is roughly 10% of all investable assets in the USA go to the pension of teachers, police, firemen, city, state, and county employees....and 5 million public employees are exempt from social security, they pay nothing, and their government employers contribute nothing to social security...that is 1 in 4 public employees are living and working in America without paying social security...AmericansforPensionEquality
Posted by AmericansforPensionEquality on December 07th 07:43:57 AM
There will be no private accounts...your big public pensions, such as CALPERS, are spending our tax dollars to lobby congress to deny us private accounts....the pensions of teachers, police, fire, city, state, county workers...are entirley funded from wall Street investments,,,and they aren't about to let those in Social Security in on the retirement funding party...AmericansforPensionEquality
Posted by AmericansforPensionEquality on December 07th 07:55:45 AM
|
|
|
|
|
