Posted on 02/14/2011 10:58:55 AM PST by blam
Kentucky Senate Votes To End Guaranteed Pensions
John Ellis
Feb. 14, 2011, 11:45 AM
The Kentucky state Senate passed a bill Friday that would end guaranteed pensions for new state and local government employees. The Lexington Herald-Leader reports that the bill was designed to address the public pension funds' growing liability. The paper reports:
Kentucky needs to stay ahead of the multibillion-dollar pension liability problem that is forcing tax hikes and painful spending reductions in other states, said Republican senators backing the bill. "It is just not affordable to go forward with our current plan, for state government or for local governments," Sen. Damon Thayer, R-Georgetown, told his colleagues.
From a fairness perspective, taxpayers in the private sector struggle with layoffs, stagnant wages and benefits cuts, yet they're expected to support generous public pensions far better than anything they will get to enjoy, he said.
The Republican-controlled Senate voted 24-13, along party lines, to send Senate Bill 2 to the Democratic-led House, where its future appears grim.
(Excerpt) Read more at businessinsider.com ...
Right on the heels of Ohio’s move on public sector unions:
http://www.freerepublic.com/focus/f-news/2673527/posts
Roll up your sleeves. The Lavender Shirts will come out swinging, at least at women and the elderly. They are going to be finger biting mad.
“new state and local government employees”
Thanks boomers! Thanks for standing up for young people! Instead we get to pay pensions that you cut us off from.
My bet is that the whole house of cards will collapse, as it did in the Soviet Union.
Retirement will be a thing of the past for everybody.
Doubtful.
Boomers are willing to screw everyone else over to make sure that they get theirs!
I’m really waiting to see the folks who are already in say, “Hey, look, this is a raw deal for the taxpayer! Let’s cut benefits for everybody.”
Instead they just screw their kids over. Ugh.
First; do you blame YOUR parents, who most likely are "Boomers", for allowing this to happen?
My problem with the way this is being addressed now is that the Unions were ever ALLOWED into the Public Sector in the first place, fully knowing that it would provide a mechanism for politicians that would buy their votes (with TAXPAYER MONEY), with handouts of benefits, exhorbitant retirement formulas, medical coverage, etc., etc., in the long run.
There is NO WAY a Public Servant should be draining the earnings and future earnings un-endingly to funnel Union dues to promoting MORE BENEFITS.....how this can stand up through Courts against a "quid pro quo" or "RICO" Complaint clearly shows how the Courts are now packed with Leftist Judges.
YOU are no more being penalized than those "Boomers" who are being fleeced from now until they are gone (those who are fortunate enough to still be generating INCOME to be taxed).
You better pay them better then. You can’t get rid of the pensions and then pay them in scraps. It is a shame but guess who will suffer? You!!!!! When you can’t get people to work for the government than don’t cry to anyone. Yes you do need government for SOME services. Good Luck to your future Kentucky.....the grass is always greener.....we shall see. LMAO.
Give them a 401(k) up to 14% of gross Income, with 50% to 100% match for the first 3% like everyone else.
We are being punished, which is why Boomers are cutting us off, and rewarding themselves.
If Boomers want to earn any street cred with the folks who are and will continue to be paying them benefits, they need to be willing to take the cuts too. Put some skin in the game.
There are more Boomers than any of us young folks. WE CANNOT PAY.
Any state that cuts public employee pension benefits ought to include all elected official pensions and perks as well. And it needs to start with the US Congress......
You reap what you sow....
If the Boomers have ONE flaw, it's having ALLOWED Political-Correctness and Diversity to be used to siphon off their earnings for handouts and politically-correct activities such as Pell Grants, Home Loans to un-qualified buyers, Welfare, food stamps, SSDI to un-deserving individuals, illegal alien handouts and citizenship to Anchor Babies, etc., etc., all of which have caused the expenditures to exceed the reciepts.
You have NO IDEA how much money the "Boomers" paid in taxes (both DIRECT, and INDIRECT via Regulation, Fees, etc., etc.) and into Social Security, only to have it stolen and placed into the general spending on handouts of the Federal Gubmint, robbing it of the actual dollars that were supposedly the "forced savings for Retirement". When everyone is having a good time, voting for "change", etc., etc., like THE MAJORITY OF YEWTS did in 2008, then they whine about what a Socialist/Progressive/Communist takeover REALLY means to their future, you get no sympathy about your "plight", and the Boomers, for the most part, didn't vote for The Messiah, as YEWTS did.
Deal with it....you reap what you sow.
Math will out.
Ask the Weimar Republic, or the Soviet Union. Oh wait, you can’t.
This is a good one that I agree with.
Haha.
So because others robbed you that makes it ok to rob us. Yeah, I see how it works.
Thanks for killing off a third of our generation, btw. But go ahead, blame your parents like you blame everything on them.
You guys have a golden opportunity to break the chain. You have, on our backs, rather than taking the cut yourself. Great.
WE CANNOT AFFORD TO PAY YOUR PENSIONS. Thanks to abortion.
You guys have a golden opportunity to break the chain. You have, on our backs, rather than taking the cut yourself. Great.
WE CANNOT AFFORD TO PAY YOUR PENSIONS. Thanks to abortion.
Again; it's the YEWTS who elected The Messiah, not the Boomers.
Seek professional help.
Finanical Planners oftened talked about the 3 legged stool of your retirement, Pension, Personal Savings and or 401(k) etc, and SSI....
Pensions, gone, SSI forgetaboutit, that won't be their, so what do you do to build you other leggs of a platform, that is the million dollar question. I have my own thoughts, but not for here...
Right, and we are just supposed to sit and take it? Sorry.
Everyone needs to take the cuts. Not just the young folks.
Thanks blam.
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