Posted on 03/08/2011 12:15:56 PM PST by JoeA
I think an “out” to the pension fight is soon going to materialize.
The States are legally obligated to pay those pensions. However, they are under no restrictions about how much they can *tax* those pensions.
That is, “Okay, fine. We will give you your $200,000 pension, because we have to. But we’re going to raise the taxes on your pension to 80%, so it will be just the same as if your pension was only $40,000.”
well, this was our choices given.
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