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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (54298)	8/4/2006 8:13:27 AM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

9% sounds fair in Aus.But the 401K in the US is In addition to nearly 8% of the Social security deduction (besides your employer's 7.5% contribution), and plenty of middle class people in the US already struggle with every day expense, and that is why they do NOT save. I see a lot of people in the state gov. who have children have to take 2nd job, just to meet their everyday expense. The new employees in Correction Dept. (I guess including the prison guard) who have 2 children are eligible for food stamp<g> And yes, state gov. has pension system, but how much they can count on after retirement is really hard to say. >>The US one of the worst....<< I quite agree<g>. Or else how the US could afford to be the world police? The funny thing is that so many Americans are so proud of their international police status, which they are paying using their own pay check, LOL BTW, as for BAB, their pension burden now counts as much as 30% of the company's market cap!