From The Chairman: Peak Strategy 2014

[Dex01]

Yet our standard of living increased exponentially in that same time span

If you consider working longer hours for lesser compensation in real terms an exponential increase in the standard of living we may have to agree to disagree on this subject.

Furthermore, people are paying cash for all of these wonderful life fulfilling luxury items, right? How much did household debt increase during this period? For some, having the latest 60" HD television may be a pleasant diversion from the fact they are hopelessly in debt, and may never be able to retire, but again, I really wouldn't consider this an increase in the overall quality of life.

 

[Dex01]

A government board to administer a duplicate retirement program

How would two completely different benefits be duplicative?

to supplant a "failed" retirement system created by the government

Yes, created by the government with the original intent of providing a tax shelter for a small number of employees who had deferred income, but then the business community decided that it should become a standard retirement vehicle, and took the appropriate lobbying measures.

...that supplements an existing duplicated failing government-administered retirement program

The Social Security Administration is solvent for approximately another 30 years without taking a single action, and could easily be funded beyond that point by temporarily lifting the cap on income subject to SSA/Medicare taxes.

 

[59 Dano]

If you consider working longer hours for lesser compensation in real terms an exponential increase in the standard of living we may have to agree to disagree on this subject.

That's okay, you'll catch on at some point. The level of compensation doesn't matter. The purchasing power of the compensation does.

Assuming that wages had increased at the same rate as productivity, you'd be no better off now than in 1973 because prices would have increased at the same rate. Tripling your income doesn't accomplish anything when prices triple too.

Furthermore, people are paying cash for all of these wonderful life fulfilling luxury items, right? How much did household debt increase during this period? For some, having the latest 60" HD television may be a pleasant diversion from the fact they are hopelessly in debt, and may never be able to retire, but again, I really wouldn't consider this an increase in the overall quality of life.

The average family income in 1973 was $12,000.
The average family income now is in the low $50,000.

 

[59 Dano]

How would two completely different benefits be duplicative?

"A national retirement board would force both employers and employees to contribute at least five percent of gross wages, and these funds would not be available to annuitants until full retirement age." The SSA requires contributions from both employees and employers, and those funds are not available until retirement age.

Yes, created by the government with the original intent of providing a tax shelter for a small number of employees who had deferred income, but then the business community decided that it should become a standard retirement vehicle, and took the appropriate lobbying measures.

Well there was no need for the lobbying, since anyone with an income was eligible from day one as the law was written.

The Social Security Administration is solvent for approximately another 30 years without taking a single action, and could easily be funded beyond that point by temporarily lifting the cap on income subject to SSA/Medicare taxes.

A whole 30 years! I have no problem lifting the cap on SSA taxes as long as benefits remain commensurate and with no cap. Of course, that doesn't do anything to fix the insolvency of this brilliant, brilliant program.

 

[Dex01]

The average family income in 1973 was $12,000.
The average family income now is in the low $50,000.

Thank you for making my point. 12,000 in 1973 = the spending power of 65,800 in 2014, which brings our little chat to a close, as it would be very difficult to take anything you say seriously after such an egregious error. Stick to debating Ground drivers.

 

[Dex01]

Of course, that doesn't do anything to fix the insolvency of this brilliant, brilliant program.

You have demonstrated that you don't have a basic understanding of inflation. Why would anybody take what you have to say in regards to economics seriously?

 

[vantexan]

A whole 30 years! I have no problem lifting the cap on SSA taxes as long as benefits remain commensurate and with no cap. Of course, that doesn't do anything to fix the insolvency of this brilliant, brilliant program.

If companies are going to force employees to scrimp by on as little as possible then let's take the cap off of income and let's also means test to insure those who had high incomes from exploiting others benefit as little as possible from Social Security. As to insolvency, when SS is finally "broke", employees and employers will still be contributing to the system and 78% of promised benefits will still be available. Easily fixed with removing the cap and means testing. Privatizing SS is playing with fire plus the goal is to benefit large stockholders much like the 401k system is now. FedEx is a great example of running away anytime those in power want to take away something while telling us it'll be a great deal for us.

 

[vantexan]

Thank you for making my point. 12,000 in 1973 = the spending power of 65,800 in 2014, which brings our little chat to a close, as it would be very difficult to take anything you say seriously after such an egregious error. Stick to debating Ground drivers.

In 1977 my dad was a top salesman for Sears making $35k. He's been very critical of my spending habits as he never made $45k in a year. I try to explain that his $35k was worth much more but he didn't believe it until I showed him, using the University of California Davis inflation calculator, that his $35k was worth about $120k in 2010. Allowed my parents to live very comfortably back then.

 

[MrFedEx]

Thank you for making my point. 12,000 in 1973 = the spending power of 65,800 in 2014, which brings our little chat to a close, as it would be very difficult to take anything you say seriously after such an egregious error. Stick to debating Ground drivers.

Dano is a company man and a total idiot. You "get" it. Van also understands that when couriers made 45-50k back in the 80's that was good money, because (as you both have pointed-out), it equates to a much higher income today.

 

[Dex01]

Dano is a company man and a total idiot. You "get" it. Van also understands that when couriers made 45-50k back in the 80's that was good money, because (as you both have pointed-out), it equates to a much higher income today.

In my experience, if you give an idealogical automaton enough rope they inevitably hang themselves. I couldn't ing believe that he had the temerity to state that I would "catch on" in the very post where he provided statistical data that invalidated his entire argument. That guy is a classic piece of trash. Now that he has been been exposed as a complete charlatan, if he has an ounce of dignity, he should abandon the dry drunk persona that is 59 Dano, and start posting under Thunder again. Hell, if your paid shill theory is correct, it may be a mandatory reassignment.

 

[Bankrupt]

Still in the sta on dec24 at 1145


Sent using BrownCafe App

 

[MrFedEx]

If you consider working longer hours for lesser compensation in real terms an exponential increase in the standard of living we may have to agree to disagree on this subject.

Furthermore, people are paying cash for all of these wonderful life fulfilling luxury items, right? How much did household debt increase during this period? For some, having the latest 60" HD television may be a pleasant diversion from the fact they are hopelessly in debt, and may never be able to retire, but again, I really wouldn't consider this an increase in the overall quality of life.

FedEx has steadily eroded the real world net pay of employees for many years. Not only have our wages come even close to keeping pace with the cost of living, but Fred has significantly lowered true income with ridiculous insurance costs for what is basically unusable coverage.

The net result is workers dipping further into their own pockets each year and a reduced ability to have a decent standard of living or have a surplus that can be invested or saved for retirement.

Fred S has been masterful at screwing employees in every way possible, with zero conscience and a zeal for making life as difficult as possible for us and profitable for him.

Please find a job that will actually allow you to retire someday. The PPP isn't going to make that happen.