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In the US and UK, Retirement Is Only for the Super-Rich

Linked by Paul Ciano on February 16, 2017

Cory Doctorow:

Since the neoliberal reforms of the Reagan era; the rollback of trade unions; the elimination of defined-benefits pensions (in favor of “market-based” SIPPs and 401(k)s); the termination of national minimum wage increases and real earnings collapse for working people; the finance-industry fraud that stole so many working peoples’ homes during and after the subprime bubble; the massive increases in healthcare costs, the possibility of retiring after 45 or 50 years in the workforce has been snuffed out for nearly everyone.

There is cash to be found to bail out the banks, cash for foreign wars, and cash enough to let companies like Google pay 0.21% tax (with working people picking up the shortfall in the public coffers) by claiming to earn all its profits in Ireland. But libraries, schools, unemployment assistance, and healthcare are unaffordable luxuries.

Besides, the intellectuals of the neoliberal movement remind us, retirement is “ageist” – people like to work!

The intergenerational resentment between the millennials who’ve inherited climate change and bad jobs and precarity and the boomers who will work until the grave takes them needs to be replaced with intergenerational solidarity. The problem isn’t other workers – it’s the billionaires who’ve looted the treasuries and pitted us against each other.

Do yourself a favor, and put that knife where it belongs.

Paul Ciano

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