I mostly use the dictionary definition of words. But we’re getting a little off-topic here, and Discourse is complaining that we’re monopolizing the topic. I’m out. Perhaps I’ll see you in another discussion topic.
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Always worth posting that too,
noun
1.something that is owed or that one is bound to pay to or perform for another:
2.a liability or obligation to pay or render something:
3.the condition of being under such an obligation:
Yep, Pensions are debts
- to be under obligation to pay or repay:
2.to be in debt to:
Owe is always worth a look.
If you’ve paid for your pension up front, you have a debt.
liabilities.
moneys owed; debts or pecuniary obligations (opposed to assets ).
Accounting. liabilities as detailed on a balance sheet, especially in relation to assets and capital.
Again exactly matching pensions.
SO I’ll sign off too.
What’s very interesting is that people who are pro state won’t admit that people have paid the state vast amounts of money. They won’t admit that people are owed a pension for those payments in.
The question is why? It’s quite simple. If people were to know how much was owed in total, the would realize they won’t be paid, and the ponzi collapses.
It’s worse of course. There is something called opportunity cost. That’s what you have lost when you compare what the state offers against what you could have had if your money had been invested and you owned the wealth.
That’s truly horrific, when you make the comparison.
It is however, the only chance of mitigating a disaster.
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How many people on this thread have already said they don’t expect to ever be paid this money? More than a couple. It’s a tax. The tax sustains the existing SS benefit. That’s it. Full stop. It doesn’t matter how they dress it and it isn’t going to change. We don’t get to opt out of paying for it but few people of my generation that I’ve ever met expect to ever collect it (I’m a mid-40’s Gen-X).
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Then you are going to have a lot of destitute people. I don’t think that’s good.
Next, you have to look at the consequences with is wealth inequality, and the bad things associated with that.
But equally, i agree with those that state they aren’t going to be paid.
Why aren’t they going to be paid? The debts too large.
It’s a almost like Schrodinger’s cat. For some reason you won’t open the book to see that SS or the Welfare state is dead.
That’s why reporting the debt is the first step to fixing the problem You might be able to support yourself, although I’d be careful.
Think what a government does when its desperate for cash. It looks around and sees money in funded pensions, 401K etc. It then says, nasty Wall Street (or the city) isn’t managing the money properly. We will take it over. They sell off the asset, spend the cash, replace it with a promise that’s worthless. Now you’ve lost your safety net too.
It’s already happened in lots of countries.
Who are you talking to? It clearly isn’t me.
We are faced with a daunting task, but it’s important to realize that it’s already been done in, not one, but several countries. The Nordic countries (Norway, Sweden, Finland, Danemark) not only provide their citizens with retirement, but also health care, inexpensive, high-quality child care, family leave, education, and upward mobility. Nonethless, they are capitalist and somehow manage to remain competitive economically. All of them are in the top 12, world-wide, ranked above countries like Taiwan, Canada, Belgium, Austria, France, Australia, S. Korea, Israel, and China. They excel in gender equality.
What about our “oligarchy” problem, where the 1% get what they want, regardless of what the other 99% want? It turns out that the Nordics didn’t just painlessly evolve into enlightenment. They had to overcome their own entrenched oligarchies. They did it as we will probably have to do, with massive, nationwide strikes and by taking to the streets in non-violent protest.
This is not too good to be true. Whet your appetite and get inspired. Read Viking Economics, by George Lakey and the Nordic Theory of Everything, by Anu Partanan.
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So where does it stop? If Grandma gives her wedding dress to granddaughter, has she sinned against equality?
Many of the USA’s founders were against government by a hereditary aristocracy, but few of them gave everything they owned to the US government.
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