That’s why the Obama régime will loot the IRAs and 401(k)s
I’ve got a feeling that it won’t be long until total tribal warfare is going to break out in this country. The more each tribe gets, the more they want.
Everything government runs runs a deficit. But Obamacare is going to be the sole exception. Sure.
Teachers deserve what they vote for: shit.
“Improper enrichment” or “Fraud” are accurate descriptions of teacher salaries in America. They were paid to teach, failed to so do, and now want to be paid for such failure? ? ?
Somewhere, a hungry lawyer is going to see the enormous cash value of teacher assets acquired for duties they did not perform.
;-)
Pensions, indeed!
Take their illegally acquired assets. We do that to other criminals, so why not treat teachers the same?
You’d think at least the math teachers would’ve figured this one out a long time ago.
Every defined benefit government pensioner is a defacto millionaire. The problem is that we dont have enough productive private sector workers willing to keep government benefits at the lavish superenumerated level.
Add to that the fact that you have to tax actual productive citizens at such a rate that they cannot keep enough of their money to save for their own pensions
Government pensions will not be paid as expected.
I know this sounds harsh, but perhaps the teachers be asked to fund their fair share of their own pensions? I know its mean and all, and they are all poor, but many pay nothing into social security ($900/month for me) and I also try and fund my own 401. I know its a hardship and all, but should not those who benefit from it, pay for it? Its just a thought.
So that’s why I got a notice from the IRS that I owe them $296.00 dollars from the tax year 2010
Actually, the damage done by the pensions of retiring teachers to the nation’s economic system PALES when compared to the damage they have done by advancing an anti-Judaeo-Christian, anti-Western, anti-American agenda in the school system.
THAT has allowed Obama to get elected TWICE - by warping permanently the minds of generations of young Americans.
How much have these unions dumped into political campaigns? How much in WI to recall the gov? I’ve thought for a long time that these unions have done a terrible disservice to their members by funding politicians. I can’t imagine any member would choose to have their retirement spent like that.
The more they get from government, the more they contribute to socialist politics.
This is why they’re going to take your 401(k).
You did everything right.
Now you get to pay for those who didn’t. :)
It’s called “fairness”.
It’s not fair for you, but that’s beside the point. :)
This shortage can easily be taken care of by a moderate stimulus package. Not hard at all to print that much loot.
When Texas got the lottery, the teachers’ retirement was raided. They were promised the money would be returned. You get one guess if it ever was.
Attention all teachers - you want taxes to make up for this and so do we - all teachers’ taxes will triple until we get this pension deficit under control. That is all - over and out.
Where can I buy a mattress that doubles as a safe?
Seems the only way to ensure savings of any kind. And, these days, the interest is even better than most financial institutions
At least this article got to the problem of educators retirements...the way the government handles them. And, I work for a school...so I am doubly concerned (believe me...my overall retirement will never get near $1 million...not even in my dreams...not even in your dreams)
Here in Florida, the state pension system was one of the best funded and solvent in the nation. Very much in the black, and, would have funded retirements for a loooong time. But, the state has raided the pension fund to fund the general state expenditures...and now Gov Rick Scott has pretty much put the first state income tax in Florida on anyone in the retirement system...as their 3% supposedly to go into the pension fund is being used for the general fund (hence it is an income tax).
Now, there is a lawsuit to either give that money back, or, move into the pension. Which means the state taxpayers are on the hook for about $1.5 billion....because the state will lose the lawsuit as the Florida Constitution specifically outlaws a state income tax.
I would prefer to use my own money to fund my own retirement...and not rely on the government...or have the government force me to use their retirement. Most would want so also
Everyone should pay attention to their spending and retirement funding/financing in their state and local areas. There is a upcoming disaster brewing with these pensions...even in states that seem to be solvent. Florida was once quite solvent...but not anymore.
My brother, a retired Chicago teacher, was recently notified he has been receiving too much money from his pension. From now on he will not get a cost of living raise. But I doubt that will help much with Illinois pension crisis.
http://www.chicagonow.com/state-of-your-state/2012/11/illinois-pension-crisis-now-unfixable/