Pension Quotes - Page 9

• The only reason there is a crisis about Social Security in the US and pensions in Europe and Japan is that you cannot maintain a "Ponzi" scheme indefinitely. We have collected from today's young to pay today's old and counted on tomorrow's young to keep doing so. That was a fine scheme as long as the number of young people was rising faster than old people. When that ratio comes to an end, such a system also has to end.

  Milton Friedman

  Japan, Europe, Numbers

  Source: www.huffingtonpost.com

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• The greatest danger to an adequate old-age security plan is rising prices. A rise of 2% a year in prices would cut the purchasing power of pensions about 45% in 30 years. The greatest danger of rising prices is from wages rising faster than output per man-hour.... Whether the nation succeeds in providing adequate security for retired workers depends in large measure upon the wage policies of trade unions.

  Sumner Slichter

  Cutting, Men, Years

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• No capitalists after any war were ever so well paid for money loaned to the nation that carried it on. No class of money-makers ever gained such prosperity by any other war, as our War for the Union brought to the money-getters of America. All this was due in great measure to the rank and file of the Union army. Now let no rich man haggle with a needy veteran of that war about his right to a pension!

  Rutherford B. Hayes

  War, Army, Men

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• With the 2001 terror attacks, airline bankruptcies, pension terminations, loss of pay, changes in work rules — we're all working harder and longer than we used to.

  Chesley Sullenberger

  Loss, Terror Attacks, Pay

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• You have to abolish pension plans. You have to abolish social spending. You have to raise taxes. You have to have at least fifty percent of the European population emigrate, either to Russia or China. You would have to have mass starvation. Very simple. That's the price that the Eurozone thinks is well worth paying.

  Michael Hudson

  Simple, Thinking, Pension Plans

  Source: www.counterpunch.org

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• The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their pension plans from defined benefit plans - when you know what you're going to get - into just "defined contribution plans," where you put money in, like into a roach motel, and you don't know what's coming out.

  Michael Hudson

  Mean, Cutting, Pension Plans

  Source: www.counterpunch.org

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• [Donald] Trump`s pension for distractions is starting to frustrate members of his own party.

  Chuck Todd

  Party, Distraction, Starting

  Source: www.msnbc.com

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• Progressive visions pale and are smashed next to the normalization of market-driven government policies that wipe out pensions, eliminate quality health care, punish unions, demonize public servants, raise college tuition, and produce a harsh world of joblessness - all the while giving billions and huge bonuses, instead of prison sentences... to those bankers and investment brokers who were responsible for the 2008 meltdown of the economy and the loss of homes for millions of Americans.

  Henry Giroux

  Home, Loss, College

  Source: www.truth-out.org

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• Fancy computers are engaging in legalized front-running. The profits are clearly coming from the rest of us - our college endowments and our pensions. Why is this legal? What the hell is the government thinking? It's like letting rats into a restaurant.

  Charlie Munger

  Running, College, Thinking

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• I would not be opposed to devising a new system of pensions, in which one part was based on collective provision, but which also gave incentives for people to take out an additional, personal plan.

  Jacques Delors

  People, Incentives, Provision

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