The One Percent Worried About Job Loss, Saving For Retirement
Thursday, March 15, 2012
Let's look at the other side of the coin: The average middle class worker in the US at a typical corporation -- Kaiser Permanente.
Kaiser Permanente can afford to pay its CEO $172,000 a week (that's not a typo), but they can’t afford to fund the employees’ pension plans.
The average Kaiser employee’s pension is around $1,500/month (1 1/2% of the annual salary, times the number of years worked). So if you work for 20 years, you get 30% of your salary ($20,000). Not princely, but if you combine it with Social Security, it’s enough to get by on, if you’re prudent.
But Kaiser can’t afford that because they have to pay their CEO $750,000 a month.
The physician-partners at Kaiser aren’t giving up their pension plans, but they want the rank-and-file to give up theirs. So it’s either the employees or the CEO, and Kaiser is choosing its CEO.
I think it's important to remember what the definition of 'rich' is: To be able to purchase whatever you want. The rich expect everybody else to fund their lifestyles, their 'wants', at the expense of the 99%'s 'needs'.
Read the Article at HuffingtonPost
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