Homestead mailing list

[Don Bowen <don.bowen AT earthlink.net>]

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.



Don Bowen
Awl Knotted Up Woodworking
Valley Center, CA             http://www.braingarage.com