Which of our liberal posters is NOT on the government dole?

[Herkmeister]

There is a difference. Some of the differences favor defined benefit, some 401k. If you have a 401k, it is your money. You can do with it as you will. In 30 years, I have personally paid over 100k into my defined plan. I can't touch a dime of that. If you have a 401k you can borrow against it and you can choose the vehicle of investment.

Most of the problems with governmental defined benefit plans have arisen from the failure of governments to put their share into the plan and trusting unrealistic market gains to make up the difference. That bill has come due.

I could be corrected on this but I'm 99.9% certain this is how it works.

1. Pension Plans - Employee does not pay in. The company / entity has agreed to a "fixed" contribution per each employee. They can state the amount that must be contributed or they can define how much each employee gets at retirement (Thus the term Defined Benefit) NOTE: This is the nasty plan that kills entities because they have "0" flexibility. Once they've been established they cannot be cancelled which is to protect the employee.
   
2. Profit Sharing - These are electable contributions. On a good year a company / entity, can determine how much or little they wish to contribute. With a 401K, the company match is an electable expense. The company has flexibility which makes it desirable to businesses. Today these plans are vastly more popular. Pensions are a thing of the past.

The old pension plans are the problem to which I was referring.

Of course this is a very simple explanation as there are many vesting rules, options, etc.

 

[RockEyeState]

80 posts later and the OP's original question is still unanswered

'Socialism is great, until you run out of OTHER people's money'

 

[Herkmeister]

80 posts later and the OP's original question is still unanswered

'Socialism is great, until you run out of OTHER people's money'

Thank you Margaret.

 

[theiacowtipper]

80 posts later and the OP's original question is still unanswered

'Socialism is great, until you run out of OTHER people's money'

I have a very good friend who owns her own business. She owns a plastics injection business. She makes caps for bottles. Her last big contract was for caps for Sue Bee Honey. I guess I don't understand your point. She is a died in the wool liberal. Sanders supporter.

The most hard core conservative i know worked at the prison in Mount Pleasant. Currently is on disability even though he gets around really well doing yard work and repairs around the house. Constantly saying that government needs to get out of people's lives. Government needs to be drowned in the bathtub. That kind of nonsense. Is that representative of right wingers.

Point is that you can't really stereotype these things. I know a bunch of people who work for the government and wouldn't think of voting left. Opposite is true as well.

 

[Herkmeister]

I have a very good friend who owns her own business. She owns a plastics injection business. She makes caps for bottles. Her last big contract was for caps for Sue Bee Honey. I guess I don't understand your point. She is a died in the wool liberal. Sanders supporter.

The most hard core conservative i know worked at the prison in Mount Pleasant. Currently is on disability even though he gets around really well doing yard work and repairs around the house. Constantly saying that government needs to get out of people's lives. Government needs to be drowned in the bathtub. That kind of nonsense. Is that representative of right wingers.

Point is that you can't really stereotype these things. I know a bunch of people who work for the government and wouldn't think of voting left. Opposite is true as well.

You're right for sure Tipper. YOU CANNOT STEREOTYPE THIS STUFF.

With these exceptions:

1. Democrats
2. Republicans
3. Fat People
4. Drunks
5. Criminals
6. Black People
7. Hispanics
8. Gays
9. Politicians
10. Jocks
11. Entrepreneurs
    
12. Billionaires
13. Millionaires
14. Socialists
15. Teachers
16. Homeless
17. Meth Heads
18. Wisconsin Badgers
19. Smokers
20. The elderly
21. Those who want to keep their insurance
22. Fetuses
23. Hookers
24. Police
25. Government Employees
    
26. Hedge Fund Managers
27. Women
28. Asians
29. Dumb asses
30. Sex Toy designers
    
31. Retards
32. Doctors
33. HROT contributors
    
34. Cool Kids (You know, the popular ones)
35. Coaches
36. Insurance Companies
    
37. Etc.......

I'll finish the list when I have time