Imagine working 40 or 50 years. Working hard. Doing everything right to provide for your family. And your savings is inflated away through no fault of your own.
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Imagine working 40 or 50 years. Working hard. Doing everything right to provide for your family. And your savings is inflated away through no fault of your own.
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$86 billion bailout to corrupt unions. Competent people don't need unions. Subsidize incompetence and you get more of it.
They are doing this because they are losing the working class vote. Of course, the joke is on them. Not many people in the working class have "pensions" anymore. They rely on social security, 401Ks, and IRAs along with savings. Relatively speaking this move helps no one in the group they need to swing toward them and, at least for me, creates feelings of ill will for two reasons: (1) It reminds me of a time when private employers were good to their employees and offered pensions and didn't send our factory jobs wholesale overseas, and (2) it once again penalizes and ignores the bulk of the middle and working classes, the ones who depend on social security and their own savings and took an active role in making sure they had money during retirement.