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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: ztect who wrote (30341)	8/20/2000 10:10:24 AM
From: Neocon	Read Replies (2) \| Respond to of 769667

Profit sharing was popular 20 or so years ago, as a way of compensating workers by giving them an equity stake in the company. It fizzled out. The reason is that most of those who received common stock as part of their compensation cashed it in within 5 years for ready cash. Some companies tried the expedient of creating shares that could not be traded for a fixed number of years. The union members rebelled, and wouldn't accept compensation in that form. The only forced savings that workers will commonly accept is pension savings, and most who personally save do so against future consumption, like a Christmas club or college fund, rather than all- purpose portfolio building. I have even known plenty of white collar workers who have raided 401(k)s, even with penalties, to purchase a house or vacation property, which, because they are real estate, they rationalize as investments. The upshot: mostly one has to count on the well- off for substantial investment, and the only way that Social Security privatization will work is to force mutual fund choices and forbid cash out......