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Thread: Report: Nearly Half Of Detroiters Canít Read

  1. #231
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by Dittohead not! View Post
    Most of the rest of the world except for Western Europe, Canada, Australia, Japan, and other first world nations. Rwanda, Zimbabwe, Paraguay, Haiti has no pensions. People there are doing just fi... what? not enough to eat, no clean water, no medical care? Most people don't live long enough to need a pension? Oh, never mind.
    The "pension" in most other countries is actually the same as our social security system.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





  2. #232
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by Boo Radley View Post
    I think you have your numbers a little off:

    Fewer than half of U.S. workers participate in any kind of employment-based retirement plan. Just 40.4 percent of employees utilized a 401(k) or pension in 2008, down from 41.5 percent in 2007, according to a recent study by the Employee Benefit Research Institute. That translates to about 63.7 million workers who saved for retirement through a workplace program last year, considerably below the 67.1 million employees who participated in 2000.

    Half of Americans Don

    Your number seems more like one I saw where workers don't see their 401's as their prmary retriement plan. However, I also saw a poll where most want one, and those with them worry about employers taking them away.

    But, to be clear, you think pension is a bad thing? Can you explain why?
    You're confusing pensions with 401K. Completely different.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





  3. #233
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by Boo Radley View Post
    Really? I have one. How are those doing without them?
    Perhaps they would be doing better providing for their own retirement............

    ..........if they werent so damn broke after paying for yours..........
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  4. #234
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by Badmutha View Post
    Perhaps they would be doing better providing for their own retirement............

    ..........if they werent so damn broke after paying for yours..........
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    Hardly. You should research our system here before you go stupid.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  5. #235
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by Gill View Post
    You're confusing pensions with 401K. Completely different.
    really, isn't my 401K my pension?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  6. #236
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by Boo Radley View Post
    really, isn't my 401K my pension?
    No, not at all. It's part of your compensation package, and the interest earned is solely the result of the market. Those contributions are made based on a matching percentage, and they are CAPPED at $22,000 per year, most of which is your money, not the matching. Most people put in less than $5K per year, so the matching is only a few dollars.

    Paying people indefinitely that are not contributing at all to their former employers is the death knell for a company. That's what has happened to the auto makers.

    A pension dishes out, in the instance of auto workers, more than $100K every year until the former employee dies, and they often retire at 52 years old. This is unsustainable for a company.
    Last edited by Erod; 05-09-11 at 06:50 PM.

  7. #237
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by Gill View Post
    Maybe next time you should try actually reading the post I originally responded to and you might understand the context.

    To make my point clearer just for you........"Most of the rest of the world is doing just fine WITHOUT A PENSION". Got it now ????
    LOL. Your comment still doesn't make sense because it still assumes that most of the rest of the world is doing just fine - they're not. This is not a difficult concept to grasp. Moreover, pensions are irrelevant to much of the world - they make $10/day.
    Last edited by ThePlayDrive; 05-09-11 at 08:00 PM.

  8. #238
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by theplaydrive View Post
    LOL. Your comment still doesn't make sense because it still assumes that most of the rest of the world is doing just fine - they're not. This is not a difficult concept to grasp. Moreover, pensions are irrelevant to much of the world - they make $10/day.
    Not surprised you are having difficulty understanding this basic fact. According to one of your libby buddies in a previous post, most of the world does get pensions.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





  9. #239
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by Gill View Post
    Not surprised you are having difficulty understanding this basic fact. According to one of your libby buddies in a previous post, most of the world does get pensions.
    I'm sorry. Are you still having trouble realizing that most of the rest of the world is not doing just fine?

  10. #240
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    Re: Report: Nearly Half Of Detroiters Canít Read

    Quote Originally Posted by theplaydrive View Post
    I'm sorry. Are you still having trouble realizing that most of the rest of the world is not doing just fine?
    One last time, then I'm done with you.......... THE REST OF THE WORLD IS DOING FINE WITHOUT A EMPLOYER PAID PENSION.

    Is that simple enough for you to finally understand ????

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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