Young workers want good old fashioned pension

[samclem]

Yep, but we got to drive all over Iraq in tanks, fly over that country for over a decade, have all kinds of adventures in Afghanistan, drop bombs on Libya on several different occasions, drop bombs and shoot cruise missiles in Kosovo, travel under the seas all over the world for months at a time, etc. The Norwegians got to do none of that--they probably set up a field hospital somewhere and maybe handed out crackers. They are getting way less payoff for their tax dollars!

 

[beowulf]

samclem- That's the price you have to pay to be King of the Hill

 

[ronocnikral]

as a young worker (age 28), hell yeah i want a pension. i actually have one, which is 1.5%/year of the three years highest avg salaries, less my megacorp's generous contribution to the social security program. i also have a DC plan which matches $4 to every dollar contributed up to 8%. the way I see it, with SS being removed from the DB and my generous company contribution in DC plan, I sit a little better than FERS. would i trade it for the old pension plan the "old" guys i work with are getting. yes. but, i would rather have their deal, which is the sweetheart pension (not frozen) and the 8% DC match.

 

[Running_Man]

Considering that Congress includes a fair number of folks who make > 1 million a year, how many of them do you think would vote to give up 100% of their income to taxes. How many athletes, movie stars, and CEO would stay here if every dollar they earned went to the government?

FYI Norway top tax rate is 48.6 for singles making more than $156K, dollars but it includes local taxes. Not significantly higher than somebody making that $175K and living in state with high income tax like CA or HI.
Contrary to the Norway man on the street, Wiki has the data here for average taxes for the country.

Norway also has a 1.1% wealth tax on any individual for their worldwide assets (including any retirement assets) in excess of $77,000. Along with the 25% VAT I think in coming years this is what we can look forward to in the US.

 

[ChrisC]

Yep, but we got to drive all over Iraq in tanks, fly over that country for over a decade, have all kinds of adventures in Afghanistan, drop bombs on Libya on several different occasions, drop bombs and shoot cruise missiles in Kosovo, travel under the seas all over the world for months at a time, etc. The Norwegians got to do none of that--they probably set up a field hospital somewhere and maybe handed out crackers. They are getting way less payoff for their tax dollars!

Hmmmm, they went to Kosovo, dropped bombs and even got to sing about it.YouTube - Kosovo