Where’s It All Gonna Come From?
Jun 25th, 2008 | By moneyking | Category: Money
For your consideration: Where’s It All Gonna Come From?
This post is about government pensions. We keep hearing over and over again that government pensions can’t be funded going forward. There are too many people eligible for benefits and not enough tax payer to pay for it all.
You’re looking at:
- Social Security.
- State department workers.
- Teachers.
- Firefighters.
Are these services worth paying for? Are these services that people will perform if they’re not guaranteed 80% (some little less; some a little more) of their last 5 years pay? Well, are they?
Are we all willing to pay more taxes for these services so government workers can retire at the age of 60, or in some cases 70, or in some cases 55?
If we are willing to pay for all of this, The Money Kings ask:
Where’s the money gonna come from?
If we’re not willing to pay for all of this, then what are we gonna do? The Money Kings assume that someone somewhere will do the job of a policeman or maybe even a Senator without a pension that guarantees income for life. If this assumption is true, then why don’t we move to this model now? Besides the fact that our government does nothing quickly, what’s the reason that we haven’t solved this problem yet—since we’re the most advanced society ever?
Maybe the answer is that we really DO have to money. If this is true, then why do we hear crap about how we don’t and we’re going to run out of money, etc., etc., we’re going to have to pay quadruple the taxes we pay now, blah, blah, blah.
You got any answers? Interested in running for office?
Good luck out there.
Keywords: pensions, money, guarantees, taxes, jobs, work, retirement
No money king, I want all the great social programs and services, but I want to pay less taxes. What’s the problem?
I should probably know more about this but sadly I don’t.
When they say “pension” are they talking about ‘free’ money paid after the person stops working? Or are they talking about a retirement plan that someone pays into from their paychecks each month?
If it’s the first one I’m not so worried because my hubby (a police officer) doesn’t get a pension when he retires. He has been putting money into a retirement plan, invested based on choices he’s made. I assume he’ll still get that…I hope.
I say stop pensions for people working for the government under the age of 40 right NOW. Or…maybe stop it for all new employees coming on or those with less than 5 years under their belt. The government is too bloated as it is and it seems silly to provide a free ride after the work is done. Maybe people need to take responsibility for themselves and their own future instead of mooching off the tax payers.
pension = “free” money, till they take it all away . . .
401k = the employer and employee making an account together that they both put money into and hopefully it’ll be enough for the employee to live off of