Thursday, August 17, 2006

Marching forward into the past

Y'know, sometimes I wish I were still working but when I read things like the new "pension reform" law, I'm glad I'm not.

The The posted a list of the law's key provisions from the AP.

The Battle Creek (MI) editorializes:
That means that most of us need to become far more serious about socking money away not just for a rainy day, but for our retirement years. Unfortunately, our track record as a nation has been pretty dismal, with many people saving little and instead opting for buy-now-and-pay-later lifestyles. That eventually could mean delaying retirement, or forgetting about it entirely.

But there is some good news in recent moves by the federal government to encourage saving money. The new pension-reform law will allow us to put more money in our personal and workplace retirement accounts. Many savings incentives that were scheduled to expire in 2011 will be made permanent under the new law, a move that could cut taxes for savers by roughly $46 billion over the next decade.
The op-ed writer puts the Pollyanna spin on this anal rape looking for a victim. Given the choice between putting more money in his pocket or saving more for retirement, your average young South Park conservative employee will opt for the former. By the time these younger workers get ready to retire there will be nothing left. They'll be 65-year-old and they'll have to keep working. But they'll be O.K. I hear tell none of the folks now in their twenties, 30s and 40s plan on retiring until they're 72 anyway. And their pension plans will be safe too, as half of them will be dead before then.

No comments: