>Median income households need to retire too. What’s your solution for them if not pensions.
The government redistributing wealth, i.e. Social Security. A federal defined benefit pension plan, if you will. And if it were up to me, I would take it even further and make it universal basic income.
> Pensions are supposed to legally outlast employers. Judicial failure to enforce that is evidence of a corrupt and politicized judicial branch that is actively waging class war against those with lower economic status.
Decades and decades of evidence indicate that the system does not work. But more importantly, automation and technology have obviated employer sponsored defined benefit pensions.
There is no value add from having employers in the middle of the wealth transfer chain. It is just extra paperwork and overhead and chances for corruption.
The pension funds invest in the same place as everyone else, the stock and real estate market. And then the government comes and bails out asset owners time and time again, so that the pension recipients get bailed out. But then why not hand the pension recipients the cash directly?
The government redistributing wealth, i.e. Social Security. A federal defined benefit pension plan, if you will. And if it were up to me, I would take it even further and make it universal basic income.
> Pensions are supposed to legally outlast employers. Judicial failure to enforce that is evidence of a corrupt and politicized judicial branch that is actively waging class war against those with lower economic status.
Decades and decades of evidence indicate that the system does not work. But more importantly, automation and technology have obviated employer sponsored defined benefit pensions.
There is no value add from having employers in the middle of the wealth transfer chain. It is just extra paperwork and overhead and chances for corruption.
The pension funds invest in the same place as everyone else, the stock and real estate market. And then the government comes and bails out asset owners time and time again, so that the pension recipients get bailed out. But then why not hand the pension recipients the cash directly?