[Homestead] This is easy enough
don.bowen at earthlink.net
Wed Sep 22 21:50:50 EDT 2004
At 9/22/2004, you wrote:
>Make every company contracting with employees for retirement benefits,
>fully-fund their promises so the money is there, denying the company the
>option of reneging---makes the law-of-contract a joke.
My mothers friend worked at United Airlines for over 30 years. One reason
was the rich retirement benefits promised and delivered to some. Now
United is reneging on that promise and is not funding its retirement
programs. His income is cut to a third of what it was and health care went
from 0 to almost $500 a month. He is well supplied with investments, not
the least of which came from selling a house his parents bought in Palo
Alto in 1942. But what about others who do not have an investment
portfolio? How would you like your promised income to be cut to one third?
In not too many years in the future the cuts in Medicare and SSI will be
combined with the cuts in private retirement so many will be forced to sell
homes and eat dog food. Working forever is not longer an option with
offshoring of many jobs other than the McDonalds or greeters at Walmart.
Awl Knotted Up Woodworking
Valley Center, CA http://www.braingarage.com
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