Monday, February 1, 2010

Tyranny of the entitled


I happened to catch the Liberal roundtable on pensions reform headed by John McCallum. There were representatives of every facet of Canadian society affected by the financial crisis and the need to find solutions to maintain pensions which were over extended before the crisis hit. Public and private pension plans were the discussion. There was not one person to represent the 70% to 75% of the population that have no pension. "period". The only mention that would involve this group was they need better education on these matters and mutual fund charges were a concern by way of management fees. 40% of returns in mutual funds goes to management fees. That was it as far as concerns for the majority of the population were concerned. I think this is very revealing and a gross statement, not just by the Liberals, but by all political parties and their priorities.

I remember Brent's post showing the picture of the sign showing the black and white water fountain. This pretty well sums up the battle the regular working class face in this country and the lack of opportunities in investments to support our retirement. The discrimination in opportunities between this segment of our society and the other 70% to 75% is blatantly obvious and the attitude of our politicians is we are a segment of society that are irrelevant except when it comes to being taxed to support their over extended pension plans. It,s depressing when you realize where we fit in in the psyche of these politicians who direct our society.

Just one other bit of information i found revealing was the costs pension funds incur and individuals incur to maintain these investments. If i remember right the pension funds costs were 3 or 4 times less then the individuals. How do you compete with that? A Solution = Marshall Savings Plan

Hornby Island, B.C.


Dr Mike said...

Talk about discouraging--it`s the same old crap we have been hearing forever it seems.

The squeaky minority gets the majority of the attention while the rest of us poor peasants get the short shrift.

The more things change , the more they stay the same.

Dr Mike

Kephalos said...

The real problem is that 99% of the 70% of Canadians who pension-on-their-own (Can-Poto) have turtled.

If the Can-Poto were to wake up to the sweet deals for defined benefit pensions, the excess management fees and double-taxation imposed on Can-Poto, they might raise a little hell.

Anonymous said...

Well folks, it’s that time of year that the MSM dance around the crux of the story when it comes to political parties prowess in fund raising, so here are the straight goods, the annual totals for the year 2009;

Conservatives $17,770,477

Liberals $8,109,489

NDP $4,039,104

Greens $1,166,874

Bloc $834,763

*totals arrived at from the quarterly filings at the Elections Canada Finance page.

Anonymous said...

The program mentioned by Hornby_Isl was re-aired
at 5:30 A.M. on CPAC so it may be on again.
However, it is also available as Video On Demand
to watch right now.
Here's the CPAC link.



CAITI said...

Thanks Anonymous for that useless information. Here are the relevant statistics that we compile on the various parties:

Conservatives -$35,000,000,000

Liberals 0 (in the last 12 months)

NDP -$35,000,000,000

Greens Called for public inquiry on tax leakage

Bloc Called for 10 year transition instead of 4, and supported the call for Public hearings on income trusts

Brent Fullard

Anonymous said...