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01-05-2011, 12:42 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
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Indeed. Clinton and Obama too, I'd say
Pete
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“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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01-05-2011, 12:51 PM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
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What are they going to go after next, Pete? What are you willing to give up to appease the Gods of Capitalism next time around? 'Cuz, you know it won't stop here. Where do you draw the line? Tell me, what am I going to be "socialist pussy" for expressing concern about next?
"The market will determine...............", as if "the market" is something with a mind of its own, completely beyond anyones control. Bull, pure and utter bull. I'm tired of having my intelligence insulted with that garbage.
Dave
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"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
Last edited by BlueStreak; 01-05-2011 at 12:54 PM.
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01-05-2011, 01:15 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by BlueStreak
What are they going to go after next, Pete? What are you willing to give up to appease the Gods of Capitalism next time around? 'Cuz, you know it won't stop here. Where do you draw the line? Tell me, what am I going to be "socialist pussy" for expressing concern about next?
"The market will determine...............", as if "the market" is something with a mind of its own, completely beyond anyones control. Bull, pure and utter bull. I'm tired of having my intelligence insulted with that garbage.
Dave
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Starting with the new deal and accelerating since then, government has been driving social policy through businesses and the workplace. There are some elements of this that may have made sense at one time, some still might. However, I believe we've stretched the boundaries of what makes sense, and when the system starts to fail, we blame "big business". We don't blame "big government", when it was "big government" that mandated, funded, and made promises regarding Social Security, Medicare, Unemployment, Health Care, Family Leave time, etc., or required or assumed that businesses would "always" be able to assume those responsibilities for their employees.
However, rather than ask what we must "give up to the Gods of capitalism", I propose a different question: What responsibility does the employer have to fund the health and retirement needs of their employees, beyond what is agreed to between the employer and the employee at the time of hire? Where does this responsibility flow from? Where has the employer agreed to assume this responsibility other than competing for labor in the marketplace?
For what its worth: pensions - aka defined benefit plans - have receded from the corporate landscape because they have become to expensive to maintain and too expensive to operate. This expense is not limited to the accumulated payment obligations to retirees (though some plans certainly made some dopey actuarial assumptions - no worse than those made by those who set up Social Security back in the day I'd suggest). The funding and administrative expenses have become especially burdensome. Defined contribution plans allow employers to continue funding employee retirement, and provide the flexibility to limit or curtail contributions when business conditions sour: something that defined benefit plans don't allow.
Last edited by whell; 01-05-2011 at 01:18 PM.
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01-05-2011, 01:35 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
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Quote:
Originally Posted by BlueStreak
What are they going to go after next, Pete? What are you willing to give up to appease the Gods of Capitalism next time around? 'Cuz, you know it won't stop here. Where do you draw the line? Tell me, what am I going to be "socialist pussy" for expressing concern about next?
"The market will determine...............", as if "the market" is something with a mind of its own, completely beyond anyones control. Bull, pure and utter bull. I'm tired of having my intelligence insulted with that garbage.
Dave
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Central control of the economy is the goal of anyone wishing control of the people. The efficiency of a free market has been proven beyond doubt. The failure of central planning has also been proven beyond doubt.
I'd be willing to offer up Obama
Excellent post Whell.
Pete
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“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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01-05-2011, 01:49 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Quote:
Originally Posted by whell
For what its worth: pensions - aka defined benefit plans - have receded from the corporate landscape because they have become to expensive to maintain and too expensive to operate. This expense is not limited to the accumulated payment obligations to retirees (though some plans certainly made some dopey actuarial assumptions - no worse than those made by those who set up Social Security back in the day I'd suggest). The funding and administrative expenses have become especially burdensome. Defined contribution plans allow employers to continue funding employee retirement, and provide the flexibility to limit or curtail contributions when business conditions sour: something that defined benefit plans don't allow.
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Bullshit, my former employer was/is profitable has fully funded its employee retirement plan and I don't doubt but what they will continue to be profitable.
They seem to be able to administer the retirement plan and even provide COLA when warranted.
The problem here is in part based on some idiotic rules such as quarterly reporting whose sole benefit is to profit takers on Wall Street.
Dave is correct in stating that the so called "free market" as some self-regulating sentient being is an insult to any intelligent person. It never has been truly free in any case but has been manipulated from within.
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Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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01-05-2011, 01:51 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Quote:
Originally Posted by piece-itpete
Central control of the economy is the goal of anyone wishing control of the people. The efficiency of a free market has been proven beyond doubt. Pete
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Granted it sure was very efficient in damn near starting another depression.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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01-05-2011, 01:53 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,909
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Quote:
Originally Posted by whell
What responsibility does the employer have to fund the health and retirement needs of their employees, beyond what is agreed to between the employer and the employee at the time of hire? Where does this responsibility flow from? Where has the employer agreed to assume this responsibility other than competing for labor in the marketplace?
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Thoughtful post, but it seems to me that funding for health insurance or retirement has to come from somewhere. It either comes from the state through general taxation or through the employer through wages and benefits. Pick your poison.
As you are certainly aware, during WWII, wage and price controls were placed upon American employers (rightly or wrongly). To compete for workers, companies begin to offer health benefits, giving rise to the employer-based system. Inertia, along with GOP scare tactics, keeps it that way.
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As long as the roots are not severed, all will be well in the garden.
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01-05-2011, 01:59 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
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The US economy is far from free. The way it is regulated is often the problem, conveniently laid at capitalism's feet to shed the blame off the demogoges/politicians who screwed it up in the first place.
Pete
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“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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01-05-2011, 02:05 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
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Btw the OP does point out the elephant in the room (not the GOP one ).
SS has already started cashing IOUs. Time to pay the piper. Again. And his bill is high.
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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01-05-2011, 02:11 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,909
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Quote:
Originally Posted by piece-itpete
The US economy is far from free. The way it is regulated is often the problem, conveniently laid at capitalism's feet to shed the blame off the demogoges/politicians who screwed it up in the first place.
Pete
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It's about as free as any in a modern society. I guess we could go back to a barter system.
Like it or not, modern capitalism needs regulation (albeit smart regulation). Enron, WorldCom, Leaman Bros, ... should make that perfectly clear. Like it or not, greed is endemic to the human condition.
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As long as the roots are not severed, all will be well in the garden.
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