Mr Sam Knowles, CEO of Kiwibank wants us all to be forced to put our hard earned loot into "savings" (or should that be "slavings") - better off stuffing the mattress with it, I recon, or using it for bog-paper for that matter.
"If we have compulsory taxation for retirement, we need compulsory savings. That's part of the balance of individual responsibility," he says. -Isn't that what's called a non-sequetor? shouldn't one of those "haves" and "needs" have a "don't" in front of it. Is this logically fallacious buffoon really a chief executive? One thing's for sure, he's an obedient minion of the Banking Elite (must be looking for a job in the private sector-or be a mate of weary banker John Key) who've got the governments of the world firmly by the short-and-curlies with their credit guarantees and now they're asking wage-earning workers to set themselves up as "human shields" to enable them to carry out a future heist. "Oh help, Mr prime-minister of some government in the not-too-distant future! the banks are failing again! Pleeeeeeze! bale them out again or we'll loose our pensions."
You could call this a lose-lose-lose-lose situation. First, the hard earned gets sucked out of the victims pocket. Next the victim spends years wellwishing those disgusting usurers whom he ought to hate and despise. Then when the banks have another crisis the nations are blackmailed into another support package underwritten by the very same taxpayer whose 10% premium they've been bludgeing for years. Eventually it all goes to custard anyway and the poor sod starves in old age or civil society picks up the tab yet again.
How should pensions work? - see my previous post