I am sure they will do far better running the insurance industry. Oh I almost forgot the banking industry also, or at least the student loan part of it.
There was an article on yahoo news a couple weeks ago about 900 people interviewed in their mid 50s to early 60s. Less than half of them had 1000 bucks in retirement. Many were hitting their 401 k funds after job losses and as usual, many people will not contract their lifestyles.
That was my conservative side. Now for my lib side. With all the $$$ they gave AIG and the banks and the auto companies etc. If they would SUBSIDIZE labor jobs at 12k a yr, 12 billion a yr would help pay for a million workers per yr. They could make stuff we do noat make here anymore (let's say anything you buy at wal marts and autos and electronics etc). It would at least reduce the trade deficit. But NOOOOO! The WTO which is an UNELECTED foreign body says we cannot do that.
This is why it is so lucrative for companies to outsource labor to other counties. Workers, in China, get about $40.00 per week. Companies do not have to pay Social Security, health insurance, general liability insurance, no OSHA, cheaper building space, no Unions, etc. Why would any USA company want US workers?
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- Jim
"A good listener is not only popular everywhere, but after a while he gets to know something." �Wilson Mizner
This is why it is so lucrative for companies to outsource labor to other counties. Workers, in China, get about $40.00 per week. Companies do not have to pay Social Security, health insurance, general liability insurance, no OSHA, cheaper building space, no Unions, etc. Why would any USA company want US workers?
I know, I know. The idea of doing something good for the country does not supercede the principle of maximizing profit.
What blows my mind is the number of people I know who have raided their 401k's and IRAs. They use them as a checking account and they used their homes (pre 07) as a VISA card. If you feel the need to cash out, then put the money in an income creating mutual fund so you will get a monthly check.
How many income raises have congress given themselves knowing all the while that this was going on all these years?!! I don't think it's just the president that's behind this. ALL of them need to go, minus any benefits at all, and sell themselves into the streets, the way they treat us! No medical, no Medicare...until they buy the notes.
As much as I will piss people off by saying this, it has to be said. We are way over our heads. They need to tax everybody (from welfare to bill gates) an extra flat 5 - 10 percent of all income and get to a negative deficit status. But they will not, the goal is to collapse the USA.
Social Security to start cashing Uncle Sam's IOU's
Social Security!
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