The time will come when it is necessary to renege on the pensions promised to government workers. This is no problem conceptually, because governments regularly renege on everything. And as a matter of justice, there is no issue reneging on a conspiracy wherein two parties agreed to ripping off a third party, who had no idea what was going on. No one who is paying for these pensions agreed to these pensions. Before we adopt Mish's proposal
I have another idea, which covers a problem Mish does not mention. Those people who double and triple dipped into the system. Sticking with the 80% tax on anything above a living wage, something these folks are always talking about, and a 100% tax on all other pensions a person might have, let's leave in a proviso that allows them to invest this money in a business, under the current IRS rules.
I am reminded of how George McGovern, upon opening a Bed & Breakfast in his retirement, was astonished at how pointlessly difficult the state made life for small business. So upon retirement, the people who made life difficult are obliged to join us or lose it.
This new army would be spending their pensions directly with other business people who were providing the businesses with goods and services. Two things would happen, these people would communicate to their past minions how horrible life is after retirement in which you actually have to serve other people.
In the parable of the rich man and Lazarus, the dead rich man wanted to warn his fellows, but it was too late. Right now we could set up a system where the use-it-in-business-or-lose-it pensioners were communicating in a direct and lively manner the problems we face given the "get-big-or-get-ut" imperative policy at all levels of government.
We then would no doubt see another parable play out, where the abusive task masters in government would be busy going around and rewriting codes to make life easier for them when they meet their pensioned fate.
The pensions are now forfeit, since they cannot be met. The question is how to creatively renege on the false promises.
Feel free to forward this by email to three of your friends.
I propose something along the lines of "taxing pension benefits above a specified amount at 80%, taken straight out of the check". The "specified amount" would be determined based on what it takes to make the system actuarially sound in a reasonable timeframe (say 15 years).
I have another idea, which covers a problem Mish does not mention. Those people who double and triple dipped into the system. Sticking with the 80% tax on anything above a living wage, something these folks are always talking about, and a 100% tax on all other pensions a person might have, let's leave in a proviso that allows them to invest this money in a business, under the current IRS rules.
I am reminded of how George McGovern, upon opening a Bed & Breakfast in his retirement, was astonished at how pointlessly difficult the state made life for small business. So upon retirement, the people who made life difficult are obliged to join us or lose it.
This new army would be spending their pensions directly with other business people who were providing the businesses with goods and services. Two things would happen, these people would communicate to their past minions how horrible life is after retirement in which you actually have to serve other people.
In the parable of the rich man and Lazarus, the dead rich man wanted to warn his fellows, but it was too late. Right now we could set up a system where the use-it-in-business-or-lose-it pensioners were communicating in a direct and lively manner the problems we face given the "get-big-or-get-ut" imperative policy at all levels of government.
We then would no doubt see another parable play out, where the abusive task masters in government would be busy going around and rewriting codes to make life easier for them when they meet their pensioned fate.
The pensions are now forfeit, since they cannot be met. The question is how to creatively renege on the false promises.
Feel free to forward this by email to three of your friends.
0 comments:
Post a Comment