A word about redistribution of wealth

Quote from jonbig04:

I'm looking for new data now. You are right, the rich ALWAYS take a hit when the stock market crashes. The top 1% (thats ONE PERCENT) own 1/3rd of all stock, while the bottom 80% owns just 1/10th.

Please explain your pension point a little more, im not quite following.
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You and 9 other moronic liberals are making 100k a year in pension income. You don't have a cent in the bank between you.
I in turn am worth a dollar. By "conventional" measures I have 100% of the "wealth." In fact though your 100k a year pension produces an income stream commiserate to 5 million dollars each in two year Treasury note yield. Yet in widely reported studies I'm the "rich" one and you the paupers.
 
Quote from Pa(b)st Prime:

You and 9 other moronic liberals are making 100k a year in pension income. You don't have a cent in the bank between you.
I in turn am worth a dollar. By "conventional" measures I have 100% of the "wealth." In fact though your 100k a year pension produces an income stream commiserate to 5 million dollars each in two year Treasury note yield. Yet in widely reported studies I'm the "rich" one and you the paupers.
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Well where did the money from the pension come from? I dont think your example flies, but Im not certain...Im not going to pretend like I know a lot about pensions lol. But it wont take me long to figure them out.

How could a person "not worth a cent" have a 100k a year pension?
 
Fuck you in advance. Nobody makes 100k off pension. If you have to float bullshit to make your point, whats the point.





Quote from Pa(b)st Prime:

You and 9 other moronic liberals are making 100k a year in pension income. You don't have a cent in the bank between you.
I in turn am worth a dollar. By "conventional" measures I have 100% of the "wealth." In fact though your 100k a year pension produces an income stream commiserate to 5 million dollars each in two year Treasury note yield. Yet in widely reported studies I'm the "rich" one and you the paupers.
More...
 
Quote from jonbig04:

Well where did the money from the pension come from? I dont think your example flies, but Im not certain...Im not going to pretend like I know a lot about pensions lol. But it wont take me long to figure them out.

How could a person "not worth a cent" have a 100k a year pension?
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From their job. Don't you know that government workers receive generous pensions at retirement?
 
Quote from omegapoint:

Fuck you in advance. Nobody makes 100k off pension. If you have to float bullshit to make your point, whats the point.
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Another ET'er living in a trailer park.

One of my best friends mom makes $105,000 a year on her pension. Her profession? Chicago public school teacher.
 
Quote from Pa(b)st Prime:

Another ET'er living in a trailer park.

One of my best friends mom makes $105,000 a year on her pension. Her profession? Chicago public school teacher.
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I've known a few school teachers and none of them could dream of 6 figures. Your friends mom is very atypical.

However, I will study federal pensions. Give me a few hours. I will post what I find, whether I'm wrong or right...but I don't think you example is going to fly.
 
Quote from omegapoint:

Fuck you in advance. Nobody makes 100k off pension. If you have to float bullshit to make your point, whats the point.
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Fuck me, huh? Dumb shit....

"In retirement, John H. George does a little painting, spends a lot of time with his grandchildren and devotes himself to the North Tonawanda Botanical Gardens. He’s spending his golden years much like countless other Western New Yorkers. Except for one thing. His public pension — $205,809 a year — exceeds his former salary.

It’s the biggest state pension of any retired public employee in Western New York and the ninth largest statewide. It also was years in the making.

When George was ready to retire from the North Tonawanda schools at age 64, he cashed in hundreds of days of unused vacation and sick time he had racked up during 17 years as superintendent.

As a result, during his final 12 months on the job, George received more than $500,000. When the state calculated his pension, that extra money was counted."

http://www.buffalonews.com/home/story/411161.html
 
Quote from Pa(b)st Prime:

Does your data include pensions. You're missing the larger, deeper points that only Pabst makes. A government worker on a 100k a year pension-even if he's penniless has de facto worth greater than a puny millionaire.
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News Flash: Not everyone in America is a government worker.
 
Quote from jonbig04:

I'm looking for new data now. You are right, the rich ALWAYS take a hit when the stock market crashes. The top 1% (thats ONE PERCENT) own 1/3rd of all stock, while the bottom 80% owns just 1/10th.

Please explain your pension point a little more, im not quite following.
More...

You all are making me sick. How can you not understand the simple point that a risk free pension income has some god damn value to it...a lot.

If I worked for the government for 35 years and retire making say $80,000 a year, I get a pension. Its gaurantee'd, its never ever ever going to go anyplace, no matter what. I don't take any risk for it, I dont have to do anything for it. Even if I have zero savings, that pension is pretty damn valuable. It probably brings me 40K or so a year.

Now lets assume I was a self employed entrepreneur for 35 years. I've saved and sold my business. I'm worth $5million at retirement. I have to get an 8% return on that $5million, which is fyi not that easy for the average person, or even professional it turns out, to do. I have to get 8% return on my $5million to have the same lifestyle as the government worker.

The pension has a huge value to it. Thats the point. How can you "not follow" that?
 
Quote from BlindLemonBoosh:

News Flash: Not everyone in America is a government worker.
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No. Only 22,700,000 people.

"State and local government workers now earn an average of $39.50 per hour in total compensation, reports the Bureau of Labor Statistics (BLS). Private workers earn an average of $26.09 an hour.

Benefits are a big reason for the gap.

Companies have trimmed pension benefits and asked employees to pay a greater share of medical costs. "

http://www.usatoday.com/news/nation/2008-02-01-civil-servants_N.htm
 
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