http://www.vermonttreasurer.gov/sit...ission-work-archive/NCTR_09MayJunNL_FINAL.pdf
"The only silver lining to all of this is that while the decline in investment markets has hurt defined benefit plans, hopefully they will survive and plan participants have been protected in the short run. In defined contribution plans, however, the impact has been immediate on plan participants. Many have been forced to change retirement plans and some have seen almost all of their retirement savings disappear."
"Let’s revisit the Basic Retirement Funding Equation: C + I = B + E C = Contributions I = Investment Income B = Benefits Paid E = Expenses (administration)"
The mentality to raise taxes for the few so they can have what the most do not have will leave rich folk owning all the land. It may take awhile, but T= Percentage of income paid by Taxpayer, and G= tax dollars used to run government and pay their employees........ must not be allowed to list too far to the one side(G).
Businesses close, change the way they do things, invest in new area, fire employees, or go bankrupt. There is a red flag where G reaches too deep in T pockets.
Maybe our educational system is being attacked? The old saying, "I got mine" does not float the boat. We need new sources for funds. Too many carefree people not doing their jobs hanging out another 5 years so they can GET retirement. Do the math.
Stop TAKING from T and do your jobs within your requirements. Tighten YOUR belts....like we are having to do. I worked over 40 years, too.
If you do the math, you will find it will not continue being a source for T. Is someone trying to live beyond their means? I'm having to consolidate, move, and pray a lot....and now they want more money.