Re:Amazon added a non-compete after the employee entered the...
by PacketPaul on Sunday June 14, 2020 @07:33PM
(#23522386)
Every worker in The US is already saving 15% year for retirement. It is called social security. If that system was managed correctly it would be all we need. But instead the money is lumped in with general funds and spent.
Re:Amazon added a non-compete after the employee entered the...
by rayhendricks on Monday June 15, 2020 @02:15AM
(#23524311)
That 15% would need to be distributed evenly among workers otherwise it doesn’t amount to much. That is only $5055 for the $33k real personal income from the fed https://free.stlouisfed.org/series/MEPAINUSA672N
That $5055 is not much, under the Roth IRA limit and not nearly enough to pay the median rent for a 1br apartment in the United States At $1025/mo per month https://www.abodo.com/blog/2018-annual-rent-report/amp/. IMO it’s time to go full ubi and Soviet housing blocks as we are keeping way too much artificial scarcity in housing. This will only get worse and causes more social unrest as we are currently seeing the beginnings of.
The other not talked-about benefit is that a public pension is doing the investing and maintaining the financial discipline for you. Most people in the United States are not capable of this, as the savings rate has only been approximately 7%[https://fred.stlouisfed.org/series/PSAVERT], and 5 years down the road Once the Covid vaccine is developed and the economy has recovered it will probably return to those levels. Which brings me to the point that it is almost impossible for 99% of people in the United States to save 40k/yr. At a 10% savings rate this is someone making 400k/yr which is way above average even for FAANG companies. So government work might not be so bad afterall.