'For the Grandparents Who Need Money... For the Struggle!': Tear-Gassed Kids in Chile Explain Why They Protest
The right wing and the supporters of the Chicago school of Economics still like to point to the privatized pension scheme of Chile as a great success.
The reality is that those doing well by it were those who were already in the upper middle class. The amount one is paid out in old age is directly related to the amount that persons saved during their working years. In other words if you did not have money left over from your pay cheque after paying all your expenses the Pension will pay out little when you retire. Added to this is the fact that as living expenses rise in the Western World , salaries are not keeping pace outside those at the very top of the pyramid salary wise.
By design the Privatized pension system benefits the rich and punishes the poor.
Pundits supporting this system like to trot out average pension payouts. Averages as we all know meaningless as exampled by a Bill Gates walking into a homeless shelter with someone concluding `The average net worth of those 100 people in that shelter is a billion dollars so why are they complaining?
Those kids are lucky they still have eyes;