Educate All Students: Larry Miller's Blog

April 5, 2011

Corporate Welfare Takes Away Your Retirement Plans

Filed under: Economy,Right Wing Agenda,Tea Party — millerlf @ 3:25 pm
By: Ruth Calvo Tuesday April 5, 2011 1:09 am

It’s not surprising to find that the right is planning to cut away basic systems like social security and Medicare/Medicaid.   That’s the cost of giving corporations the welfare that formerly kept their consumer base going.  This has been in the works since the origination of social security, when FDR was called an enemy to his class, and before that.

The original Great Depression was a playing out of the lack of regulation, and government servicing of corporate interests, that the dismally irrational right wing now wants to return to.  The protections of public interest and support systems that keep U.S. citizens from abandonment to the elements have kept the country prosperous by enabling all of us to contribute to the economy.   Without that contribution to the economy, corporate welfare enthusiasts are leaving this consumer economy to the elements,  a.k.a. the free market.

Workers, even though they might not have reasoned the corporate welfare connection through to the end, are waking up to the fact that their future has been taken away.  Almost half are acknowledging that retirement is not on their individual horizon.   In a poll released today, 44% say they will keep working not out of choice, but because their retirement plan hasn’t worked out.

The survey also highlights the particular retirement challenge facing boomers, who are contemplating exiting the work force just as the worst economy in seven decades left them coping with high jobless rates, tattered home values and painfully low interest rates that stunt the growth of savings.

Two-thirds of those still on the job say they will keep working after they retire, a plan shared about evenly across sex, marital status and education lines, the survey finds. That contrasts with the latest Social Security Administration data on what older people are actually doing: Among those age 65-74, less than half earned income from a job in 2008.

“I’m going to keep working after I retire, if nothing else for the health care,” said Nadine Krieger, 58, a food plant worker from East Berlin, Pa. Citing $50,000 in retirement savings that she says won’t go far, she added, “We probably could have saved more, but you can’t when you have a couple of kids in the house.”

As we are well aware, getting a job isn’t a certainty anymore.   Diminishing numbers of jobs with diminishing returns in wages are taking away that part of retirement planning.   That free market that was supposed to secure our economic health has taken away the security in their plans.

Most of us are coming to terms with reality, since we have to.   In the phantasmagoria that is the right wing ideology, though, forces that have been disproved are still the basis for their plans, and the legislation they invent to deal with the future.

The free market is alive and well in economic plans that remove regulation and taxes on the corporations that are depending on our continuing prosperity for their health.   Families know better, and are taking into account the fact that wages, jobs, and returns on investment have been removed by following right wing ideology.

Rejecting realities that the rest of us, making real plans for a real future, have had to accept – that’s the basis for wingnut economic plans.   Try some basic rationality.   It isn’t a working plan.

Anyone who votes in favor of the ideology that’s been irrevocably disproven over more than a decade is unstable, and not to be trusted with our future.

Tags: Health care, right wing economics, Wingnut logic, Social Security, Paul Ryan, medicare, elections have consequences, retirement


1 Comment »

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    Comment by personal finance software online — September 22, 2014 @ 9:43 pm | Reply

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