My basic point is that private pensions and public pensions are not on equal par when it comes to their funding sources. That’s all.
Everything that is provided to public employees comes from taxes, there is no question.
But their pensions are fair compensation for their work and loyalty.
Just think if Reagan set up individual account when they reformed Social Security
Clinton was looking into it.
Reagan would have been better as longer time invested and picking up the boom in the 80’s
The funny thing is, Clinton was getting ready to do it, but when Bush mentioned it the Democrats went ape shit about him selling out seniors.
Clinton might have done it had Newt not backed out to investigate a blowjob.
This is one topic you and I agree on 100%
Under Reagan, individual IRAs were allowed for anyone with earned income ($2K annual limit). It lasted 3 years until the Tax Reform Act of 1986 imposed a number of conditions that generally made them unavailable to anyone with a company or union retirement plan and set under rather law income limits for contributions. There was a lot of speculation that so many people set them up that tax revenues went down.