Is this the time to take more away from the working class? Hey Brodsky, you still have a job. How is your benefit package doing, jerk?
Dear Greenwich Post Editor,
Let me get this straight: Because 401k pensions are taking a bigger hit, due to the upheavals in the market, than traditionally defined benefit plans, Brodsky says that we should be encouraging government to put more of its eggs into the even-riskier defined-contribution basket?
Largely due to the shenanigans of Wall Street, Americans, through no fault of their own, have taken a pounding on their retirement accounts in the past year.
Given the economic uncertainty, the last thing we should be doing is encouraging a race to the bottom, which is what abandoning our defined-benefit system would do.
Brodsky seems to think that shrinking the social safety net enjoys some widespread support among his readership, but he's wrong.
Bill Gaston
Greenwich, Conn.
HERE IS THE BRODSKY EDITORIAL MR. GASTON IS REFERING TO:
PUNTING ON PENSIONS
December 22, 2008
GOV. Paterson and Mayor Bloom berg may be about to blow the biggest chance in a generation to fix New York's long-broken, budget-busting public-pension system. Indeed, their planned remedies fall so far short, and come with such a steep political price, it may be wiser for them to simply hold their fire - and do nothing - rather than waste a precious opportunity. Without a doubt... MORE >
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