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- #121
401K a scam? How so? My son at age 26 already has 20K in his. Tell him that is a scam.
How does GM put "money aside" WHEN IT HAS NO MONEY TO PUT ASIDE?
Love you honey but you need just a bit of economics taught to you to understand that the car industry has been so competitive for 50 years that THEY have to model their benefit packages along with the competition OR THEY GO BROKE just like GM did.
GM salary structure for management was one of the lowest in the industry.
The rich pay their fair share now and more.
I am open to single payer.
Guy, you don't get to lecture us on economics when the last three devastating recessions have been on your watch.
It just doesn't happen. You have all the credibility of Jeff Dahmner as a nutrtionist. Any thing you morons say about economics only deserves a big "Fuck You". You just don't have credibility on this issue. Sorry, man, you just don't.
GM had money to put aside. They spent it on big glass offices and big salaries and big payouts...
Another part of the problem is the reason why GM has so many retirees is because it has been around so long. The Japanese companies haven't hit this problem yet for their US Factories (and in Japan, they have single payer and strong unions, so this doesn't turn up as an issue.) What makes matters worse is that GM used to make m ost of its components, but they've spun that out to subcontractors like the company I work for.