RE: [Mpls] Pensions and other Ponzi schemes........

2003-10-02 Thread Peter Jessen
Thread snips are below. Vicky suggests: "Tell your local government to stop breaking the law. A lot of time and money could be saved this way." She left out "stop doing what is legal yet stupid." There was no rule against the Titantic racing full speed ahead. But it was stupid. She correctly

Re: [Mpls] Pensions and other Ponzi schemes........

2003-10-02 Thread Chris Johnson
Victoria Heller wrote: We need some arithmetic here. If you contribute $50,000 to your retirement plan, and draw $500,000 of benefits after you retire, who pays the difference? Nobody pays in $50,000 to social security and draws out $500,000 unless it's through disability or retiring early and t

Re: [Mpls] Pensions and other Ponzi schemes........

2003-10-02 Thread David Shove
On Thu, 2 Oct 2003, Victoria Heller wrote: > Jim Bernstein states: > > "Pensions are earned. They are not welfare." > > Vicky replies: > > We need some arithmetic here. > > If you contribute $50,000 to your retirement plan, and draw $500,000 > of benefits after you retire, who pays the difference