- As workers lose their pension money, in RSPs or from failing employers, and six out of ten Canadians have no company pension, The Canadian Labour Congress once again shows its `work with capitalism' stance by calling for a new pension model, not an end to the employment system.
- Along with the auto industry (projected 2009 loss at $2.1 billion), and the stock market (down $34 billion), the Canada Pension Plan has lost $23.6 billion. No worry for the managers, though, as the top four executives of the plan not only take home paychecks of $300 000 to $500 000, they also get bonuses of $7 million to share, for losing the $23.6 billion. The average CPP benefit for workers is $501.82/month!
- The federal government has announced that its budget deficit will be $50 billion, not $34 billion as previously announced and just a few months after finance minister Flaherty predicted a small surplus. The bailouts are the excuse but it seems money is slow to trickle down to where it is needed as the old ploy of requiring provincial and local matching funds has been used. Either they can't match it or the funds get tied up in the red tape of three government levels. Either way, for the unemployed it will be a long, desperate wait for work and the means of living. For example, the Toronto Star (17/May/09) reported that a machinist laid off after two years work in an auto parts plant qualified for just 28 weeks @ $284/week, less than half his regular (low) pay. Capital chews you up and spits you out.
John Ayers
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
" The Canadian Labour Congress once again shows its `work with capitalism' stance by calling for a new pension model, not an end to the employment system"
ReplyDeleteDo you have any idea how crazy that sounds?
Like it or now the wagw system is here to stay. Instead of wasting energy on ranting about groups that are tring to do something for working people, you should step up and help them.
The best thing they can do for working people is get off their backs.You are the crazy one if you think capitalism can be reformed .It can't be in any meaningfull way and needs to be replaced by a free access production fo ruse society,run by al the people for all the people instead of in the interests of a small percentage of economic parasites.,instead of recycling it ad infitum it needs kicked ito the dustbin of history.
ReplyDeleteWorking people don't need helped other than to be shown how they aquiesce in their own exploitation.They already produce all the wealth of society but deny themslves access to it by supporting the wages system.
It is slavishness ot say ,"the wages system is here to stay".Get of your knees and help give it the mighty push which confirm its obsolescence.