Page 14 - John Tandy News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Then work on fraud. to rick unger's point, hobby lobby pays $15 an hour, costco pays $20 an hour. liberals argue nobody gets paid anything, but that's not true. >> john tandy, what do you think? >> sorry, rick, you can't legislate higher wages, you can and reduce job opportunities. >> keep it on food stamps. >> i think if we want to help poor people, i think all of us do, the worst way to do it is to legislate it from washington, d.c. invariably it will be handled the wrong way in ways that harm poor people. give it to cities and states who will do a better job, much less in the way of fraud a...

And people that are old. but look, the expansion, 18 to 65 area, that doesn't wash. the economy is not the strongest it's ever been. unemployment is down to 6.1%, the recession has been over for five years, we need to peel back the number of people on food stamps. >> john, to michael's point, we've been through economic downturns before, had food stamp usage. we want to help women and children and the destitute and poor. we are talking about able bodied people that don't have children. we didn't see that trend in prior recessions, john. >> i side with mike, you want to grow the economy with pe...

Benefit plans, some want to offer 401(k)s, remove bailout from the equation. >> rich, should it be only 401(k)s, no pension plans? >> well, i agree with john, but most companies and unions should go with 401(k)s. as warren buffett says, the best plan is dollar cost average into a broad s&p 500 index and outperform the professional managers 8 out of 10 times. >> rick, corporate pension plans are the back stop, it is funded by insurance premiums that companies pay. i think mike probably agrees, but still, taxpayers could be on the hook for it. >> i have to say, carrie made a good point. the conc...

Coming up over all these years on a defined benefit and switch it. going forward, think she might have a good point. >> i think it should be a gradual process. but i want to disagree with john. >> can we come back, we have to get mike in on this, i'm sorry. here's the thing. we are in bailout crazy land now. it is ironic the first modern era bailout, excuse me, the airline industry after 9/11, now the big airlines want more federal taxpayer money if the pension plan goes bust. go ahead. >> the problem is by law they're not allowed to set premiums, the government sets the premiums. if it was al...

Welcome back. attention taxpayers, it is already called the next big bailout. according to a new report, the federal agency insuring millions of pension plans will have a deficit of nearly 50 billion bucks in less than 20 years. carrie, you say only one thing could fix this. what is it? >> pensions are a relic from the past, from a manufacturing based economy. we are an information based economy. we need to shift our employees onto 401(k) defined contribution plans, we will get a more accurate reading of liabilities and the taxpayer will be rescued. >> john, here's the thing, we're talking abo...