This is simply another attempt at big business and speculators to tap into money from the middle class. Same arguements as privatizing SS: having the military invest in a Thrift Savings Plan is just code for "give your money to Wall Street to use to Wall Street's advantage."
pure class warfare. take from the poor and middle class and enrich the top 1%.
privatizing military retirements and SS is just another transfer of wealth from lower incomes to upper incomes.
this is the true class warfare that's being waged in america.... not the attempt to see high income earners pay an extra 3% in income taxes.
Not necessarily, you can put restrictions on the types of investments, so you dont have 10,000 people who might enter retirement every day, find out their retirement followed the DOW into the toilet. As you get closer to retirement, most if not all investment advice is to be in little or no risk CD or bonds and not in stocks. Preferred stocks may work. Annuities are not immune from the stocks crashing. Most mutual fund managers do not beat the S and P 500 average, so thats not a reliable place either. On the other hand, congress spends it and hopes everyone behind you is paying enough. With only 2 workers paying for each retired person SS is in need of restructuring.
You assume that increased taxes on high incomes and corporations will not affect wages. All other payroll taxes are part of your burden cost to the employer. Ive seen teamster drivers take the bulk of the wage increases in a contract and actually CUT the starting wage of future drivers, that was 2006. Those contracts also designate how much is going to the wages, pensions and health care and older employees often want more money put into their pension.
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