Word: retireesã
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...There is little reason that current players should vote to withhold pension payments absent of Upshaw’s pressure. Second, the league continues to make bucks off the names and feats of vets; it sells memorabilia, shows old film on ESPN Classic, and maintains the Hall of Fame.The retirees??€™ case against the league is one against pure greed. This year Gene Upshaw will make $6.7 million—the highest salary for a union official in American history. At the very least, the NFLPA should push management to allow disabled vets access to full pension...
...investment-based system may be the best way to keep Social Security solvent. That’s why it was one option recommended by the Clinton-appointed Advisory Council on Social Security in 1997. The council called for a transitional 1.5 percent increase in payroll taxes to maintain retirees??€™ benefits while younger workers established personal accounts. (Maintaining benefits under the current system would likely require a much bigger hike.) Thoughtful economists have also recommended partial redistribution among the personal accounts to shield individuals from heavy investment losses. Mr. Bush’s plan, in contrast, is unfunded...
...some might even have noted that there’s no way to improve on those trust fund returns without simply cutting off some group of retirees??€”which is what the Bush plan, minus an infusion of government money, would have done. Giving current workers new individual accounts without adding more money would have just been stealing from today’s elderly to pay tomorrow’s. Barring extraordinary intervention from Congress (read: raising taxes, cutting benefits or borrowing from other budgets), the most detailed available version of the plan would have sent the trust fund...
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