Quote:
Originally Posted by Urbane Guerrilla
"Pay Their Fair Share" is codespeak -- obfuscation if you'd rather -- for "legalize stealing it." It's an unsustainable shame. It will come to a bad end. Like as not, it will kill your pension as it does.
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And the wealthy are so good at protecting pensions as it is. One theme has emerged over the past few decades, and that is leveraged buy outs where companies like Bain loot companies and
this guy, leaving behind underfunded pension plans. The result is that a government agency has to take up the slack.
http://en.wikipedia.org/wiki/Pension...ty_Corporation
Quote:
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During fiscal year 2010, the PBGC paid $5.6 billion in benefits to participants of failed pension plans. That year, 147 pension plans failed, and the PBGC's deficit increased 4.5 percent to $23 billion. The PBGC has a total of $102.5 billion in obligations and $79.5 billion in assets.[3]
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