Skip to main content

Retire? Who me?

The figures speak for themselves.....and again show how politicians, and the so-called upper-echelons of society, simply don't get that the general populace will, sooner or later, say enough is enough and demand something be done to redress these obvious disparities in society.   This piece "100 CEOs Have as Much Retirement Savings as 116 Million Americans" on CommonDreams explains....

"While many Americans are facing a "frightening retirement reality," 100 CEOs are looking at "colossal nest eggs" and can look forward to monthly retirement checks of over $250,000 for the rest of their lives.

The Institute for Policy Studies (IPS) puts a spotlight on this massive savings gap in its new report (pdf), "A Tale of Two Retirements."

"While slashing jobs and benefits for ordinary workers, CEOs of large companies have been feathering their own nests," stated Sarah Anderson, report co-author and director of the IPS Global Economy Project. "It's no wonder so many American workers are concerned about whether their golden years will be tarnished by financial stress.”

In fact, these 100 CEOs have retirement funds that total $4.7 billion. That's as much as the retirement savings of the 41 percent of U.S. families with the smallest nest eggs—that's 116 million people.  The report also notes that 37 percent of U.S. families have no retirement wealth at all."

Comments

Popular posts from this blog

Whatever democracy the Palestinians had is dying

Almost a desperate cry from a well-known, respected and sober moderate Palestinian.

Mustafa Barghouthi is secretary-general of the Palestinian National Initiative and a member of the Palestinian Legislative Council. He was a candidate for the Palestinian presidency in 2005.

He writes in a piece "The Slow Death of Palestinian Democracy" on FP:

"Palestinian municipal elections were supposed to be held last week. Instead, they were canceled. A statement released by the Palestinian Authority claimed the cancellation was "in order to pave the way for a successful end to the siege on Gaza and for continued efforts at unity" between Hamas, which governs the Gaza Strip, and the government in the West Bank.

The cancellation of this election was an unjustified, unlawful, and unacceptable act. It damages democratic rights and makes a mockery of the interests of the Palestinian people.

But this is far more than an internal Palestinian issue. The only lasting peace between Isr…

Big Brother alive and well in the USA in 2007

The so-called "war on terror" has shown itself up in a multitude of manifestations. The most dangerous thing has been governments using the "excuse" of the war to restrict certain civil liberties, allowing government agencies to pursue a variety of things that they would otherwise would not - and should not - be allowed to do and gathering, and retaining, a variety of information on its citizens.

The Washington Post reports on the latest incursions into civil liberties of all Americans:

"The U.S. government is collecting electronic records on the travel habits of millions of Americans who fly, drive or take cruises abroad, retaining data on the persons with whom they travel or plan to stay, the personal items they carry during their journeys, and even the books that travelers have carried, according to documents obtained by a group of civil liberties advocates and statements by government officials.

The personal travel records are meant to be stored for as lo…