A point that seems to be missing in the debate over health care reform is that the current system is bankrupting our citizens, our companies and our government. Our country spends much more per person on health care than any other country. We spend twice as much per person as France, 35% more than the Swiss. Is our care twice as good? Health statistics say no. The cost of health care is growing at a much faster rate than wages, most corporate profits, and tax receipts. The result is that we have to spend more and more of our personal earnings, company earnings, and tax dollars (see chart on page 13 of linked Congressional Budget Office document) to provide health care for the country. And we have millions who are uninsured to boot.
A Harvard study found that medical expenses were the leading cause of personal bankruptcy filings. The study also found that most bankruptcy filers had health insurance! But that is only half the story. As health care costs skyrocket, companies are pushing more of the cost of health insurance onto employees, either by increasing employee contributions or increasing co-pays and deductibles. If some sort of reform is NOT passed, you will pay more and more of your income for health care.
Companies, large and small, are being forced to reduce or eliminate health benefits or absorb costs which make them less competitive. Most industrial nations do not have for profit health care insurance. Their governments control the cost of care and ...
...that provides foreign companies an advantage over ours. If health care reform is NOT accomplished, we will be less competitive in world markets.
If the nation does not come up with a reform plan that reins in the explosive growth of health care costs, Medicare taxes will have to increase or benefits will have to be cut.
Please notice what I said just now. If reform is NOT done, Medicare will be cut, US companies will be less competitive in world markets, and you will pay more of your income for health care. The reality of our unsustainable health care system is that it must be reformed, not only for our physical health needs, but also for the economic health of the country. Other countries provide high quality, universal health care to their citizens (scroll down to middle of the page for Canadian example) at fraction of the cost of our system. This country must find the necessary reforms to do likewise. It is either health care reform or bust.
Thursday, August 27, 2009
Health Care Reform or Bust!
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62 comments:
A point you seem to be missing Bill is, How is it going to be paid for? you are going to pay more either way. In the form of taxes or personal contribution. The bottom line is, do you want the Govt. to run health care? I say no.
Please comment on the hypocritical play the MA congress is doing to cater to the democratic side. They are actually considering changing a law that was just changed a few years ago to prevent the Governor from appointing a replacement senator to changing it back to suit their needs. How phony! Let the process play out. Hold a special election to fill the position.
Apparently you have missed my point entirely. The costs of the current system are unsustainable. They will bankrupt the citizens and the nation. We must institute measures that reduce costs. Look at these statistics on spending.
Total spending on health care, per person, 2007:
United States: $7290
Switzerland: $4417
France: $3601
United Kingdom: $2992
Average of OECD developed nations: $2964
Italy: $2686
Japan: $2581
The way that we pay for it is by bringing our costs in line with the rest of the world. Go and watch the Frontline video at this link, http://www.pbs.org/wgbh/pages/frontline/sickaroundtheworld/
Switzerland instituted reforms in 1994 at the same time as our last attempt at reform and they had similar costs. Their costs are now only 65% of ours. In effect, we would be saving 35% of what we spend if we had done the same as the Swiss in 1994.
How many illegal aliens do Switzerland, Italy and Germany have? 15,000,000, 20,000,000?
Funny, I can sustain the cost of my plan. I'd love to see some reforms to bring the cost down but at the expense of loosing control to the government? Give up control so millions of others can benefit without any effort on their part?You speak of reducing cost and yet we now know our federal deficit will exceed $6 trillion? Something is not adding up here. Sorry, continue to count me out.
why do people continue to speak about illegals when the BILL says it wont cover them....Glenn Bech kool-aid anyone
I assume that you will NOT be signing up for the government run Medicare program when you reach retirement given your vehement opposition to government run health care.Contrary to what Rush Limbaugh, Glenn Beck, Shawn Hannity, and Betsy McCaughey say (they're lying!);
1> Those not legally in the country are specifically prohibited from the program in the health care bill, HR3200.
2> There is no conspiracy by our own elected officials (many of whom are old and a few who are sick) to have us killed by death panels when we are older and sick.
3> Congressmen, and every other federal employee, already are signed up for a system that is very similar to that in the bill.
4>Health care reform will not bankrupt the system, it is well on the way to that now.
5> Medicare benefits will not be cut under health care reform. Costs will be cut.
Read my post again!
Regardless of what happens in the next 160 days, we will elect a new US Senator within 160 days. I have no objection to the governor appointing one in the interim if the General Court wants to change the law. A Democrat will be elected to the Senate from Massachusetts in any case, so what difference does it make if the governor appoints a Senator for the interim? It's a political move, no doubt. Why is that surprising?
How can we trust a political party regarding "death panels" "illegal aliens and other manipulating fear tactics pertaining to healthcare reform when according to former sec. of Homeland Security under the republican administration Tom Ridge, he was FORCED to raise the terror alert on the evening of the 2004 election. Fear tactics influenced an election it most certainly would inlfluence public opinion regarding Health care reform
Why speak about illegals? Because they will be the next agenda item - they will be given a path to citizenship. Do you think we are all blind here? I do not drink cool-aid and I am not ignorant to the facts.
Pres Obama says there will be cost efficiencies to be had in Medicair and we will also improve service and cover more people. Why not make those efficiencies known now and accomplish them first? Fix the VA now - what's stopping them? A few fixes of this nature might engender more support, until then let me run my own life.
Nowhere have I mentioned death panels.
What flavor kool aid are you drinking?
Whether or not illegals are covered is irrelevant. They are being treated anyway. Right now we are paying for their education and health care not to mention the other services they receive tax free. Why not just make them legal so they can pay into the system like everyone else? We certainly aren't stopping them from coming into the country. At the same time why not make drugs legal. In other countries where drugs are legal, the rate of addiction is much lower and so is the crime rate. How much time & effort is wasted by police officials fighting a war we can't win? How much violence and crime can be attributed to the drug issue? The money used for ineffective enforcement could be better spent.
Can't quote the source (I missed it but saw this info on a public TV broadcast), substance abuse is the #1 expense for health care. Whether or not this is true, I'm sure it is right up there at the top of the list. Are we winning the war on drugs??? We've been seriously fighting it since Reagan so what have we accomplished in all that time? Mexico's drug cartel is no longer staying on the other side of the border and just sending the drugs through. They have moved into our country growing pot in our national parks and setting up grow houses. They have brought the violence along with them.
Prohibition made alcohol very profitable for criminals. When it was repealed, alcohol was no longer a source of revenue or a reason for criminal activities. I feel there isn't much difference when it comes to drugs. People are going to get them no matter what so why not make them legal? Get rid of the criminal element and create a new source of tax revenue. Our government should be jumping all over that.
Hey Bill it's funny they worry about covering the Illegals yet they complain not about this.
http://www.mass.gov/Eeohhs2/docs/dhcfp/r/pubs/09/50_plus_employees_append2-3.pdf
Subsidizing Wal Mart that's why i go to work for everyday.
As for the Illegals you pay for them already. Whenever they walk into an ER with no insurance We Pay.
Also maybe if people allowed Barney Frank to talk and listen to what he said instead of booing him when he was asked the question of funding for Single Payer Healthcare they may have heard his answer. Which has alot to do with this.
http://www.cbsnews.com/stories/2008/08/12/national/main4342535.shtml
Also this is something no one complains about either. Read Below:
Institutional Shareholder Services, the influential shareholder advisory group, said in a prepared statement Thursday that there "is not sufficient evidence to prove backdating of options by the company."
Still, ISS said, it's concerned that the board's compensation committee has failed in its duty to "provide oversight to the executive pay practices and administered a flawed employment contract. The over $1 billion that Dr. McGuire currently holds in paper gains shows that the committee has not applied the 'holy cow' test, as fiduciary duty requires."
In other words, this may be legal, but "holy cow."
McGuire and his executive crew have set new standards for wealth that have drawn envy as well as ire from country clubs and executive suites nationally. Then there is the wrath of those who see such largesse as simply too much -- particularly from a health care outfit, because there are so many millions of Americans who lack basic health insurance.
"Even if there's nothing illegal at United, this is the extreme of obscenity in corporate governance," said Brother Louis DeThomasis, the chancellor of St. Mary's University, a onetime successful entrepreneur and a veteran board member who writes and lectures about business ethics. "We must reward excellence in performance. But handing people eternal paradise ... $1.6 billion worth of options is a bit much."
They are talking about Bill McGuire the recently replaced CEO of United Healthcare.
Keep paying your premiums that increase at anywhere from 5% to 15% per year so he can have a better life for himself.
Also those of you who don't like Socialized Medicine please submit your letters to the VA,Social Security, and Medicare and tell them you do not wish to participate in these programs. While your at it send a letter to the town stating how you do not want Socialized Fire protection to come to your home when it catch's fire. Oh yeah BTW Social security is not broke that's a lie also. Go to the bottom of page 124 and start reading.
http://books.google.com/books?id=ibH9jPdHa9QC&printsec=frontcover&dq=perfectly+legal#v=onepage&q=&f=false
Glenn Beck is a hypocrit watch this video to see why. He is a TOOL.
http://www.thedailyshow.com/watch/thu-august-13-2009/glenn-beck-s-operation
There's your homework now get busy..
Not to worry our cocaine snorting, herb smoking commander in chief I am sure has that on his agenda too.
I suppose one answer to illegals is to just legalize them and the answer to drug use is to throw up our hands and say it's a lost cause, too much work, can never win. Why bother with any laws or borders or anything else for that matter? Sounds like a great plan. Make it all free, legal and a 'gimmee'. Where do I sign up as I'll be damned if I'm going to work my ass off for everyone else.
Personal responsibility-what a concept. If I had a United Healthcare plan and I was so offended by the CEO's salary guess what I would do? Switch to a different provider. That's called freedom of choice, the marketplace at work whatever you might want to call it. When the government controls large portions of you life guess what? You are dependant on the government and freedom of choice flies right out the window. I do not need to listen to Glenn Beck, Rush Limbaugh or anyone else to know government control of my healthcare is not a good thing. For all the so-called 'boogey-men' on the right that you are bound and determined to pin the outrage on sooner or later you will realize that many plain old citizens know this plan does not pass the smell test. Painting the resitance to this plan with the same brush as that lefty looney LaRouche does not make your case any stronger either. That LaRouche's stooges managed to steal Frank's meeting does not make those opposed to the program on principled grounds any less legitimate.
Health insurance companies are not in the marketplace it is monopolized by a very few providers. Also they are exempt from anti trust laws. So i ask you which one of your family members are you willing to sacrifice so your insurance company can stay profitable? Do tell.. child number 1 or child number 2?
So,does that mean you won't be signing up for Medicare??
anon 8:38 Are you for Dartmouth citizens paying more in taxes?
Yes health care costs are inflating at an unsustainable rate, have been for years. Yes health coverage is needed by everyone, but for me the issue is one of unknown costing.
We all need a car. I have a car for you Mr. Lynam. I can’t yet tell you what manufacture it is, I can’t tell you what year it was built, what color it is or what it will cost you .... just sign here please and it is all yours.
I don’t want to sound unpatriotic or confrontational but I need a little more specificity than that before I commit to crushing my old clunker and sitting along the roadside to await delivery of my shiny new .... what ? That’s the problem. I don’t know what and I don’t know at what cost or even if it runs as well as the one I just sent to tin can heaven.
Mass has some track record with universal health care that we can look at. There is a good, non-biased report done by the ACEP State Legislative/Regulatory Committee. (American College of Emergency Physicians). It looks at the lessons learned, the good points, the bad and ends with an overall assessment. It isn’t LEFT, it isn’t RIGHT it isn’t UP and it isn’t Down ... it is a factual assessment that will please and anger those on both sides of the issue – as facts often do. I urge everyone to read through this relatively short report, It’s 5 pages are written in plain English and can be seen at : www.acep.org/WorkArea/DownloadAsset.aspx?id=45176
Some People seem to have this right winged idea that spreading the wealth is a bad thing,The bad thing is the widening of the income gap between the CEO of a company and it's middle and lower class workers. My question is if a CEO's salary and compensation can increase 500% why has the middle class of America not seen an increase in their compensation of even 100%. The employer and employee depend on eachother for survival., one is not more important than the other. This country is only as strong as the middle class, and it is weakening due to this disparity of income that we are witnessing today. Bring economic equality back and you will begin to see the resurgence of a strong middle class and a stronger economy will be the end product. People such as "JOE the PLUMBER call this socialism, I call it fair pay. Let the CEO diperse his 500% compensation down to the workers,if he is reluctant tax him higher and give the workers more benefits
Proof of astro turfing the town hall forums.
http://thinkprogress.org/2009/08/27/ahip-lobbying-publicoption/
Ray, spreading the wealth is a bad thing for those who are actually working to earn the wealth. I already spread it to the tune of +-50% - how much do you figure is enough? Or is it enough to simply say more, always more.
You obviously missed my point when I'm speaking of spreading the wealth, that was meant the 500% increase in CEO compensation while the wages of the worker has remained stagnant. I'm not speaking of middle class tax increases, I'm speaking about corporate greed
No I did not miss the point Ray. where do you draw the line? Is $500,000 too much? $1,000,0000? Who makes the rules that says 'X' is too much?
As I said I already pay in excess of 50% of my income and make no where near either of those figures and I pay for my own insurance happily beyond that. When I am unhappy with my coverage or with the compensation of the CEO of my carrier I can select a new company if I want. Enough people do that and guess what? The CEO is gone or the company goes under. Free market usually works with some notable exceptions. I dare say that is why 85% of our population is happy with their insurance coverage and see only problems should the government decide 'to make it better'.
Ray, the problem wasn't how much a CEO was getting. The problem was that our economy was a bubble. Over-inflated housing prices, mortgages people couldn't afford (not because the owners weren't being paid enough but because they over-extended themselves and lenders were only too happy to oblige), a stock market that was based on unrealistic gains and consumers that were more interested in instant gratification than in worrying about where the money would come from to pay the credit card bills. Our economy didn't crash just because CEOs were being overly compensated. It is a very dangerous path to start regulating how much private citizens can earn or trying to over tax them. There are many wealthy individuals who fall in the 500k+ category. These people are not all greedy corporate owners. They employ thousands of people through their businesses and in their personal lives. They have come by their wealth honestly and through hard work. They pay more than their fair share of taxes. They are also generous contributors to charities and various social, preservation and environmental organizations. It would be very unwise to think that because they have more money than you, it's all right to unfairly tax them. Whether it be corporations or individuals, if you over-burden them, it is the workers and worthy causes that will suffer. Businesses will go overseas, hirer cheaper labor or lay off employees. Who do you think can afford to pay for union labor? It isn't the middle class worker who needs a new roof. Wealthy individuals and corporations are paying for your salary and benefits. Going after the wealthy is biting the hand that feeds you.
What I am concerned with is widening gap between the CEO and the middle class worker, I'm not saying that is why the economy collapsed. You have not given me a reason why a CEOs compensation has gone up 500% in 30 years yet the worker in that CEOs business has remained stagnant. That is my main concern and if we can close that gap the middle class of America will be much stronger, which will make our economy stronger because a healthy majority of Americans will have more purchasing power
Anonymous 8:56, maybe "the problem wasn't how much the CEO is getting," but now that it is widely known how much some of them are and were getting, not to mention all the bailouts and bonuses so many of them ended up with, do you think that the wealth of some of these individuals is justified, earned, appropriate, etc.? I'm saying "some," not all, and yes, they (many) are generous contributors to charities, etc. There are some benevolent, hard-working, up-by-their-bootstraps wealthy individuals out there that we have to admire. But, for that matter, how many of them have more money than any one person (probably more) can spend in a lifetime?
Look at the wealth given our sports figures and entertainers. I'm sorry, I truly do not believe any one individual is worth the millions given them in those professions. How many millions was one actress (I don't remember who at this time; read it in Parade Magazine) given for doing a voice-over in a movie? Not even an appearance, just use of her voice, and I know you and I know people who could have read the script just as well and provided the perfect voice for the cartoon character. And at a fraction less of the cost.
I know this is off the subject, but our money is frequently spent as though it were a free-flowing stream. I would hope these millionaires who get our money donate to charities.
Of course, we Americans are at fault, too. We are willing to pay an astronomical fee for a Red Sox ticket, and, if the market will bear it, why shouldn't all our entrepreneurs and businessmen(women) get whatever they can get from us if we are so willing to part with our money to be entertained.
Ray, I did answer your question by explaining that it wasn't a CEO's salary or compensation that caused the collapse. You choose to use a very small minority of overly compensated individuals to make your argument. Do you really believe if these people did not receive this money that there wouldn't have been a problem with the economy? Let's say for the sake of argument that they didn't receive it. Where do you think that money would have gone to? The workers? Afraid not. It would have gone to the investors of the company. That is why they invest. Is the government going to start regulating how much investors can earn too? Where does it stop?
I agree the middle class is suffering but not for the reasons you want to believe. Taxes and insurance are killing us. That is where 60% of my pay goes. Until that problem is addressed, the middle class will continue to falter.
We ourselves are also to blame. There is a sense of entitlement in this country. We are too obsessed with things and too willing to spend beyond our means. The housing crisis is a perfect example. The goal was to purchase as much house as possible all the while knowing it was not affordable. We drive around in brand new $30k cars, have flat screen TV's in every room, ipods, cell phones that do everything for you except make your bed and every other luxury item that is available and yes, these are luxuries. The credit card crisis is another example. The middle class has to go back to the necessary basics and understand that not everyone was meant to be wealthy. Sorry but that is the reality. Quality of life should not be based on how many things you own.
If CEOs' salaries/compensation are going to be adjusted, it should be up to the companies to do so. The shareholders need to take responsibility to set their house in order. It is not up to the government to do so. If they choose to do so, it is highly unlikely that the workers will benefit from this as you seem to believe. Again, the shareholders will be the ones to benefit. There are many wrongs in the world and in this country but it is not the government's place to right all of them. When you begin to trample on the rights of certain groups or people, it then becomes very easy to continue to do so in other instances when you feel there is injustice. Again I ask, where does it stop?
Forgot to add that I do not believe the government should have bailed out anyone. It is not the taxpayers responsibility to ensure the success of businesses.
Ok plain and simple!!! Follow along.. The wants and needs of Corporate America are not the wants and needs of the Middle Class.
If your paying 60% taxes one of two things are true. 1. Your Lying 2. You need a new tax person. NO ONE pays 60% ever!!
Here's some info for you to digest, in Japan where CEO pay is closely regulated they reached their highest unemployemnt rate since WWII of 5.9% this week, and they are in a recession also. What's it here around 16%?? Not only is 5.9% low compared to ours, but the Japanese people are freaking out because they fear that they will no longer enjoy having a job for 30 to 40 years like they are accustomed too.
The simple fact is this TRICKLE DOWN economics does not work!! We have suffered thru 30 years of this failed policy much to the detriment of the middle class. Also do not forget that without a strong middle class and a strong free press democracy fails to exist See Fox News. We for far to long have been indoctrinated with this greedy selfish attitude that is destroying our communites and our country, all the while the pigs at the top sit and laugh at us from atop their ivory towers.
Here is another one for you,this housing bubble that just burst in this country, were we alone in this?? Let's see how much you all pay attention to what's really going on.
As for you Ray don't bother trying to push a worker agenda with those in here they believe the American worker is evil and that the so called free market is where it is at. They have consumed the Kool Aid for far to long to understand that if no one is working they cease to exist also.
Please try to read and comprehend. I did not say I was paying 60% just in taxes. I said taxes and insurance.
As for the greedy pigs. Who do you think is feeding them? The American consumer. Why are rock/movie stars and pro-athletes being paid so much? Because we are willing to pay the price to sustain them. Why were lenders able to make such a killing? Because we were willing to over-extend ourselves. You cannot blame everything on the wealthy. The middle class has played its part in the recent fiasco.
As for the media if you believe FOX News is the only biased source, then I can understand your complete misunderstanding of our economy.
Getting government spending under control and real pension reform would do wonders for the middle class.
"As for the media if you believe FOX News is the only biased source, then I can understand your complete misunderstanding of our economy.
Getting government spending under control and real pension reform would do wonders for the middle class."
Fox News does more to push the greedy pig agenda than any other news outlet that is indisputable!!
I also noticed you did not answer the question i posed regarding the housing bubble. That leads me to assume you do not know the answer therefore you are the one who has a complete misunderstanding of our economy.
Also Government spending, who started spending like a drunken sailor on the countries credit card anway? I'll give ya hint the same douchebag who gave us Trickle Down Economics.
The Middle Class has been around for a long time and thrived for a long time. Once the Piggies got their way and took control of OUR government that is when all hell broke loose. The Destruction of regulations on coporate excess has had a major effect on our country and the middle class. Let me see, so you think it is good and correct for a corporation to recieve tax breaks from the U.S. government to outsource good paying American jobs. After all Tax Breaks are what is needed to keep America alive correct? That's what i keep hearing. Also when was the last time you read or saw anything on busting up a MONOPOLY. Research the history of Exxon Mobil and learn something.
What's with you and pension reform anyway. Is so many people had not had their pensions hi jacked by the Greedy Piggies then maybe no one would complain about paying an average income tax bill of 7%, because they now wouldn't have to start all over again at the age of 55 rebuilding their nest egg. Your inability to look beyond your Ideology is saddening to me, because that is how they prey upon the Middle Class.
Just like this comment here:
Why were lenders able to make such a killing? Because we were willing to over-extend ourselves. You cannot blame everything on the wealthy. Predatory Lending my friend played a majority role in this fiasco and don't let anyone tell you differently. It was GLOBAL. Here's another Fact! If the rules that were destroyed over the last 30 years had been in place this never ever would have happened. FACT!!! The great depression should never ever happen again and yet it did. Ask yourself why??
Here listen to this you might learn something.
http://www.youtube.com/watch?v=3f0A_P9kNBc
Hey Bill put this up on your website so all can see it.
I assume that you will NOT be signing up for the government run Medicare program when you reach retirement given your vehement opposition to government run health care.
Bill, I will sign up for it when I reach the age. NOT because I agree with it, BUT since they TOOK my money for it since was 16 I want my share back. I will also keep my current insurance to augment the SERIOUSLY LACKING government option for seniors.
The problem with government health insurance is there will not be another OPTION once the Government takes it over.
stupid is as stupid says
"Bill, I will sign up for it when I reach the age. NOT because I agree with it, BUT since they TOOK my money for it since was 16 I want my share back. I will also keep my current insurance to augment the SERIOUSLY LACKING government option for seniors."
From the moment you sign up for Medicare until the day you die you will draw more from the fund than you ever put into the system in all the years you worked. Also once you retire you will not be able to afford your current health insurance on a fixed income at the current rate of increase of anywhere from 6% to 20% yearly. Your investment portfolio will never keep up!! Rethink your thought process or simply stop putting lies out there. I'm inclined to think your are doing the latter. Once again the all knowing conservative opens their mouth and looks like a fool. Damn you guys are plentiful in here.
C'mon Ray - the poor worker the CEO undeserving of his/her compensation. The worker makes a company. I wish it were so black and white. A successful company is comprised of someone who risks all to make a go of it and the workers cotirbute to that success. If a worker does not like the compensation he receives after a day's work he can look elsewhere. Too many workers leave and the company fails. It's a balance that works all over the country for many years. When the worker comes up with is own idea for a company and puts all in to make it work he can reap the same rewards as his former CEO. Ask me how I know this Ray. America is the land of opportuntiy not the the land of hand-outs and reliance on government.
"America is the land of opportuntiy not the the land of hand-outs and reliance on government."
Yes Ray don't you know. The American way. Start company with a bunch of investors. Beat up local municipality for tax breaks. Ask the state for more Tax breaks. Then use the federal tax code to cheat their way out of paying any taxes. Use the PUBLIC roads for transport of their product. Use PUBLIC courts to protect copyrighted product. Hire Illegals thru temp service to circumvent need to supply employees with a good pay and health insurance. Work hard to build up company on the taxpayers back. Then once it is all up and running well, sell it off to a bigger multi national corporation for a nice big profit for the investors. The Multi National then moves production overseas and tries to sell it's good's back to the American worker who was not good enough for them in the first place. Sound about right, RAY?
Don't ya just love these people in here who feel because they own Joey's Plumbing or Tom's Auto Repair on the corner feel that they have something in common with the big boys and and the Multi Nationals.
Here see if you can understand this, nobody work, nobody come to your corner Diner, or call you to Plumb their new addition. If no one is working you die a slow painful death also. Just look at New Bedford it is dying.. Think long and hard about you want, because the enemy of a well paid worker is also your enemy it's just that it takes a lil longer for you to feel the pain.
Wow! What an incredible view of the world. I can see now why you feel the government is your answer. Me, I'm doing just fine - taking care of myself. Legally too.
To Ray. Why are you so opposed to offering employees a 401k type of pension? Why do you keep insisting on the arcane pensions that are killing our government? They over burden the taxpayers and prevent unhappy employees from moving on to other employment if they have not put their time in.
anon 1:24 The answer to your question is yes, the mortgage crises did happen in other countries, mostly because Wall St. was selling them our junk mortgages. You are laying blame on corporate America and our government but put no blame on yourself or middle America. Who allows our government to run rampant or allows it to be taken over by large corporations? Who elects those who were responsible for deregulation? It is "we the people". Predatory lending is only possible if "we the people" allow it. As in any situation there are exceptions, however, it doesn't take a genius to know whether you can afford something or not. Take some responsibility. No one was complaining when stock prices were going through the roof or home values tripled. Did people really believe it was real??? How could anyone who was watching this, not know the bubble was going to burst???
What you should be outraged over are the government bailouts for these companies. If a company chooses to pay its CEO an outrageous salary or bonus, that is the company's prerogative. However, if that leads to the company failing, it should not be the business of the American people to save it.
Like I have said before, if a CEO gets a 500% increase in compensation in 30 years is it too much to ask to raise the pay of their employee 100% over 30 years. I that going to bankrupt the company. All I ask is that the CEO gets a 400% increase instead and give the employees 100% increase. Why are you against giving the employee raises?
WOW! someone really hates public pension. I wonder if he would be in favor of the military getting rid of pensions also?
At some point, when does the ability to accumulate wealth become, for some, greed? And can't greed blind people into doing things that in some instances are morally unethical or irresponsible, and even illegal, as we've seen happen in our headlines? Or maybe it's the ability to pull something over on the public; if it can be gotten away with, go for it.
What upsets me is the things that some people do to get their money. And, they get away with it. We can be outraged, but what changes?
Because as long as we give in and pay out, aren't we the fools?
To those who believe in supply side economics and cutting benefits to increase profits., what happens when most employers deem it "necessary" to cut health benefits to become "more competitive" with companies that are in countries where health insurance is not part of their labor costs. Most people who belong to the middle class can not afford a family plan just on their salary alone. Don't tell me it will not happen, because anything is possible when it comes down to profits. IE ENRON
All a pension does is take from the profit and most likely compensation of the CEO and give it to the worker,who laboured 5 to 6 days a week 8 -10 hours a day for 30 plus years, so they can enjoy a fruitlful and enjoyable retirement. Explain to me why the gap has increased between the worker and the CEO. If profits are up and CEOs can receive their boatload of compensation why hasn't that "trickled down" to the worker..Why does extra profits go to investors rather than the people who actually MADE the company successful. Trickle UP economics is the best way to ensure a strong middle class. A rising tide DOES NOT lift all boats, it only lifts those at the top.
Also once you retire you will not be able to afford your current health insurance on a fixed income at the current rate of increase of anywhere from 6% to 20% yearly. Your investment portfolio will never keep up!! Rethink your thought process or simply stop putting lies out there. I'm inclined to think your are doing the latter.
I work for the post office jackass. My insurance goes with me to the grave. It is the same insurance CONGRESS gets. How DARE you call me a liar. I tell the truth and you have the gall to call me a liar. Maybe you should run for congress, you are just as arrogant as Barney Frank.
Why are we all arguing. There are NOT enough votes in the Senate to pass this bill through. This is a pipe dream, nothing more.
In 4 yrs we can argue about it again.
"I work for the post office jackass. My insurance goes with me to the grave. It is the same insurance CONGRESS gets. How DARE you call me a liar. I tell the truth and you have the gall to call me a liar. Maybe you should run for congress, you are just as arrogant as Barney Frank."
"The problem with government health insurance is there will not be another OPTION once the Government takes it over."
You currently recieve Gov't insurance and you say it is lacking, Which is it?? HUH??
Refuse your Gov't supplied system and pay for it yourself you leach!!! Your a walking contradiction!! You are the Jackass, simply because you make no sense. Think about it a Gov't employee complaining about gov't supplied health insurance all on the taxpayer's back. You are too funny!!! Here's a Dunce cap for you JACKASS!!! Keep your mouth shut until you stop living off my tax dollars then and only then can you open your mouth!! JACKASS!!
Keep your mouth shut until you stop living off my tax dollars then and only then can you open your mouth!!
Shut up and pay my salary and insurance tab. You don't have a choice.
I said medicare is severely lacking, which it is. Luckily I can keep my insurance when I retire in 1 year. Between the 2 of them I will be O.K.
I didn't give up my right to free speech when I took this job. I can and will speak about anything I choose.
It is the private sector that hires illegal aliens.
the government is barred from hiring illegal aliens.
without government intervention many private companies would hire illegal aliens because they just aren't the fair, baseball, apple pie, and flag waving patriots the kool aid drinkers think they are.
Again, let us review. GOVERNMENT protects AMERICAN workers by making the hiring of undocumented foreigners ILLEGAL. PRIVATE Sector companies are the ONLY people hiring ILLEGALS.
Yes James and our friend Barney Frank makes the illegals the heroes and immigration agents doing their jobs the villians. If the government would stick to what it should be doing, part of which is protecting our sovereignty by securing our borders and sending illegals back when they are caught, we would all be better off for it.
I'd appreciate it if you would not assume I object to illegals for any other reason that that they simply do not belong here because they came here illegally. Not a difficult concept really.
A special election to the office of United States Senator will be held Tuesday, January 19, 2010 to fill the vacancy created by the passing of Hon. Edward M. Kennedy. The primaries will be on Tuesday, December 8, 2009. Here is the full calendar as promulgated by the Secretary of the Commonwealth. As part of his announcement the Governor said he would not be a candidate himself
Ray I'm beginning to believe you have no clue what a 401k is. I am not arguing that workers should not receive a pension. I just believe that public employees should receive what those in the private sector get. The employer contributes a percentage into a pension fund as does the employee if he or she so chooses. When that employee is no longer employed by that company, the fund leaves with him/her. The employer's obligation ceases and the employee is free to either find other employment and continue contributing or retire. In either case the employee is not bound nor is the employer.
The added benefit is the government, whether it be federal, state or local, does not carry that burden once the employee has left. On a more pratical side, how does a government body budget for these lifetime pensions when one does not know how long an employee will live after retirement??? 10, 20, 30yrs.? No one knows so how do you budget for it and how do you sustain it? The car companies certainly can't.
You appear to be advocating for all employees but you continue to argue for the public pension system. I don't know too many companies that are still under the old system. Even the post office went to a 401k type pension in the 90's. Which again leads me to believe you don't understand the concept.
Investors invest because they expect a good return on their money. Why else would they take chances on companies, especially new ones? Without investors, you would not have start up companies that end up employing thousands of people. You also wouldn't have new technologies that also create new jobs. I'm sorry that you don't think certain people should make as much as they do but you have to take the good with the bad. You are lumping all companies into a neat little ball and trying to make capitalism seem like a bad thing. I do not want anyone telling me how much money I am allowed to make. Some salaries/compensation are out of control but there are many other areas where the blame can be laid. Not all of it is the fault of CEO's.
That 401K sounds more like an annuity than a pension.
What other areas can the blame be laid,in the fact that CEOs are overcompensated, other than the stockholders and board members. There is a gap between the employees and the CEOs,how do you defend such an atrocity?
"I just believe that public employees should receive what those in the private sector get."
Why not the other way around private sector should get what public employees get. Remember the public sector use to be below the private sector at one time. Hey i have an idea why don't you lower your standards to what the Indian's or Chinese get. There then we will all be equal. What a joke, everyone should lower their standards of living to satisify the conservative ideology of the fre market. I say screw you and the free market and stick Globalization up your ass. While your at it kick Milton Friedman in the nuts with his Trickle Down theory. He was wrong because he forgot the simple human principal to hoard or better yet one of the 7deadly sins "Greed"
CEO's steal from the Shareholders as well as Employees. With stock options and other fancy ways of being paid without actually being paid. Also they cheat on taxation with tax payment deferrals. Paying a tax due in 1999 with 2009 dollars saves them money. Please do me a favor stop defending these greedy bastards. YOU HAVE ABSOLUTELY NOTHING in common with them especially if you have been in the military and are a state employee living off the taxpayer all your life. Which from what you are writing here inclines me to think that you are such a person. Your letters to the editor and the drivel you have spewed in this blog as well as Curt Brown's blog leads me believe you are such Tool.
Stop getting all your info from Drudge, Atlas Shrugs, and all the other useless right wing media sources and open your eyes to what is around you. You are blind and your constant defending of these people just makes you look like a TOOL.
Ahhh name calling - last refuge of a scoundral or something like that. Why on earth should I care what a CEO makes and why is it atrocious if there is a disparity? People get rich - some through their own hard work and some through other means. So what? I work hard, support my family and other worthy causes and when I feel I am not earning enough I work either harder or smarter and get what I feel I need/want. I don't check with my neighbor to make sure I'm not earning too much just like he does not confer with me about his new BMW in the driveway. I've got no problem with that. I do have a problem with simply saying he/she makes too much more than the poor guy that works for him. Again, so what.
that's terrible, You do not have a problem that the median income of middle class America hasn't gone up in 30 years, yet the owners of the company have had a 500% increase in their pay. tell me what exactely is wrong with a CEO getting 300% increase and giving the worker a 100% increase and leave the left over 100% to give to stockholders...
Ray, I think you need to choose your words a little more carefully. Atrocity??? Genocide, hunger, torture. Theses are atrocities. Not what a CEO is being paid.
I have stated in one of my previous comments that I believe some of the blame can be placed on the American people. Whether it be the shareholders, consumers or voters. We are all to blame.
I ,as a previous poster stated, just believe in working hard and not worrying about what my neighbor has. I do not waste my time harboring jealousy for others. The thing I am curious about is the double standard. Certain people have been accused of being jealous because they believe town employees' salaries are too high. People like anon 8:24 claim it is because they are jealous but then he complains that CEOS are paid too much. Sure seems like a double standard to me. The only difference is that CEOs are being paid by the shareholders and public employees are paid by the taxpayers. The taxpayers have every right to scrutinize their pay. It is up to the shareholders to do the same.
You want an answer Ray. Start your own company and you too can be a CEO. It's easy right? I'm sure you have the talent, knowledge, financial backing and everything else it takes to acquire investors and make large sums of money. Once you do that I'm sure you'll welcome government intervention to regulate what you have built and tell you how much you are worth. However as anon 8:24 once said when he wanted to start his own business, I didn't do it because "it's really hard".
I dont have a problem with the CEO getting paid really well, but he and his business wouldnt be successful if it wasnt for the employee and they should be well compensated and I believe their pay should rise with the CEO...if the CEO gets a raise, so should the employee. If the company isnt doing well neither should get a raise. Its really that simple
Do lifetime contracts appear anywhere in all these scenarios? What motivates people to suggest or accept them? Is that what we should accept and not have gotten angry about when they became common knowledge? According to some people in town, that is precisely what we should have done: accepted them without question.
Why did Dartmouth ever get itself in such a mess as we did only a short while ago? Who/what's to blame here? Is it the mentality of take what you can get?
What makes some people feel they are entitled to such special treatment as did our eight (now seven) town employees at the time?
Is there any inequity here?
You are correct starting a business is very hard i know firsthand. I did try that's all the more reason why i scream against excessive Ceo pay. As a small business owner i think it is disgusting that $18,000 comes right off the top just to provide you and your family with healthcare. It's funny though here i am fighting for the small business owner when i don't even pay for healthcare. I guess i am the dummy, HUH? Well suit yourself.
Just want to leave you with this $1,000,000,000 / $18,000 = 55,555 small business owners and their families would have been covered with health insurance from just a portion of ONE CEO's salary last year. So Mr. Small businessman what could you have done with an extra $18,000 in your pocket last year. I guess you'll never know now will you. BTW did i mention i DON'T pay for Health Insurance. HAHAHAHAHAHA!!!!! I get to keep my $18,000 HAHAHAHAHAHA!!! Sucker keep on defending them HAHAHAHAHA!!! At the rate they are going you won't be able to afford Health Insurance keep defending them blindly HAHAHAHA!! I don't pay for HC HAHAHHAHAHA!! and you DO HAHAHAHAHA!!! SUCKER!!! Do you have Dental ALSO?? I DO!!! How about EYE?? I DO!!! How about Temporary Disablilty for 6 Months?? I DO!!! HAHAHAHAHAHA! and i don't pay anything!!! HAHAHAHAHAHA!!! AND you DO!!! HAHAHAHAHA
"nice, so you dont pay for healthcare...hmmmm suckin at the nipple of government. GET A JOB you lazy JACKASS".
Hey SUPER JACKASS, when you have just started your third stage of Rem Sleep ( do you know what Rem Sleep is Stupid? )i've already put in 2 hours at work and when you sitdown at the dinner table at 6pm I may be walking thru my front door. Anytime you want to put on my heavy ass steel toe boots and walk a mile with me your more than welcome. Judging how you posted your ever so smart blog entry at 8:20am it seems to me your the one who needs to find a job LAZY JACKASS.
I'll tell ya one thing it sure is nice not having to pay for healthcare, but like i've said before you'll never now what that feels like to have an extra $18,000 burning a hole in your pocket HAHAHAHAHAHA!! But I DO!! HAHAHAHAHA
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