So that’s why they hate big government
Our President wants to protect workers pensions so he tells Congress to work with industry and come up with sensible legislation. Big surprise, Congress comes up with a law that reduces corporate contributions. What happens when pensions are underfunded and people are expecting to have something to fill the social security gap? Instead of the most competitive companies attracting good workers, offering better products and helping their workers retire, we will have government supported companies deceiving workers and then the government is going to have to take care of the workers one way or another. The argument that this helps companies remain competitive is joke. Of course companies “remain competitive” when they start cutting benefits that they can’t afford. If I could promise benefits and then have a get out of jail free card from the government I’d be much more competitive!
Where in “by the people, for the people” do companies get to self regulate? Here’s a big fat wake-up call to those who would call themselves the proponents of free markets: they’re not really free. All markets have rules and either we set them or companies will set them. If the companies set them then the rules will benefit the major shareholders (note, that this doesn’t include Joe Family and his 401k because he was banking on his pension). If we want a free and just society (that second part is key), then we need to set the rules. If an American citizen takes a job and part of the contract they sign includes a pension as part of their benefits, how can we possibly justify allowing shareholders a get out of jail free card? Either don’t offer a pension (that or a 401k and guess what, your employees are going to work for someone else) or pay for it if you do. I’m sure that if the company goes bust the worker will lose their job, but without a pension we’re going to have to work at that job until we die anyways (so who needs a pension?).
The problem isn’t big government; it’s big corporate government.