Posted on 07/31/2017 12:54:02 PM PDT by Twotone
Govt employees = the New Slavers.
Dump the gov pensions. Let them eat cake on social security with the rest of us.
Just raise taxes. That always works.
That is approximately $40,000 per household JUST FOR THE DEFICIT funding. Does not include current funding, other taxes, federal income taxes, etc., etc.
>>Dump the gov pensions. Let them eat cake on social security with the rest of us.<<
They do. FWIU, there are no current classes of taxpayer exempt from SS.
However, many have pensions in addition to SS. The problem is the formulas for those pensions can be ridiculous and unsustainable. I think that he government should transition to 503(b) for all workers.
I get a modest pension from California - I paid into it and it isn’t based on a crazy formula. California’s problem is it just had and has too damn many employees and also allows double-dipping (people who retire and then also work as employees while getting the retirement $).
But when you look at the Dallas police pension that GUARANTEES 8% growth per year if you leave the $ in, that is insane.
The liability will spread to even fewer taxpayers if birth rates remain low and/or people start leaving the state.
It’s not like it’s Oregon’s leaders’ money so spend, spend, spend.
Doom and gloomers are laughed at, but, honestly, I think where they are wrong is in the timing. The world’s economy is like a car careening down a hill without brakes, ever increasing in speed. “Doom and Gloomers” say, “That next corner, we’re goin’ off the cliff!” But the car makes it. Then the next one and maybe the next.
But we all know it’s not going to end well. It just depends on when the speed is high enough and the corner tight enough.
The speed is getting crazy though, and the corners tigher, and the cliff taller. I don’t know when it’s gonna happen, but when it does, it will be fast and it will be devastating. And it will STILL catch everyone off guard.
these people have gouged the system and the should make up for it....
with their high wages, they get the top SS rate as well....
Wherever the Democrat (in name only) party has gained control over all branches of government steady stream revenue sources intended for certain purposes, such as taxes for maintaining roads and highways, those funds will get diverted and directed towards employee salary and pension benefits. How are the roads in this state ?
>>the double and triple dippers are the reason I think we will go to index SS and probably Medicare too....<<
I paid into SS. I also saved like a maniac and have built up a considerable retirement portfolio, which I intend to start using in a few years.
I am to have my SS money taken away from me as a punishment for being thrifty and wise?
Don’t conflate SS and pensions. They are different.
Failed policy. Put liberal Democrats in charge and keep kicking the financial can down the road until the road ends. Hell, sounds just like Illinois strategy.
Here’s how it worked in Cal.
When unions came in signed into law at midnight before Jerry Brown left office the first time, unions that represented Corrections said to Brown and the legislators after they went into power. We want the same pay as the CHP (at the time, the elite in cal). After they started building prisons, the correctional officers union was the biggest in the state and their lobbyists could go into legislator’s offices and write bills onto the state system and that legislator would sponsor it. I saw that happen personally.
So corrections wanted parity with CHP and they got it and they had 25,000 employees paying $42 a mont fees.
So the COs got pay parity with the five largest law enforcement agencies, CHP, LAPD, LASO and so forth. They were already in the same retirement program. 2.5% at age 55 times the years of work times highest year’s salary.
Then Gay-give me 100,000, and you can come into my office for coffee-Davis gave all state peace officers 3.0 at age 50 because they dummied up the projected value of the retirement fund POFF for cops and fire fighters. So LA gives 3.0 to their people and the SO needs to give 3.0 to theirs and so forth because it’s a big recruiting issue and every cop and fire fighter in every podunk agency in the state got 3.0.
Then all of a sudden, after Davis, the value of the fund which was based on false projections of future income, went down. Now you see the results of that with the huge projected deficit.
The man who started it all is back in power building trains to nowhere and leaving the door unlocked at the border and mocking Trump while extending his other hand for federal money and signing a budget each year with 20 billion in services t illegals. Has he done anything about the retirement mess. Uh, no. Did he start new people in a more fiscally sound program, uh no. Will he answer questions about why not. Not on your ass, he doesn’t. And people who raise the issue are conservative extremist and those crazyHoward Jarvis fanatics.
unions raise dues to have more bribe money. more bribes get them more bennies, more bennies including higher salaries means they can raise the dues and increase the bribes see how sweet the system is. Union members who get a 200 a month pay raise don’t mind giving another 25 of it to the union whose bribery got them the raise. And we tried to best to stop with the initiative process, but fake adds convinced a majority to vote no on the initiative. So here we are locked in a cycle of bribery and debt.
Solution? No public unions or no unions ca n donate money to a candidate who can vote on their benefits. isn’t that a direct conflict of interest your honor? Oh you say you are a liberal democrat judge. never mind. Business as usual and the next democrat governor will do the same with the super majority in the legislature.
One day it will all implode but don’t ask me to care much anymore. I’m on the payroll (under the old retirement formula) and riding into the sunset.
The Republican post got one thing wrong. The ability to roll sick leave into a retirement ended was eliminated years ago. I knew a lady who had perfecf work attendance. Once Oregon state made that change, she began taking a lot of sick leave.
I am no expert but check this out.
The homes in much of the region in S.CA rent for about $2,600 per month for a $600,000 home. If one multiplies 2600 x 12 months, that comes to $31,200 per year. 10x that is $312,000. This is what the home should actually be selling for...Not 550k++!
I'll quote from those who know.
"Typically, the rents that landlords charge fall between 0.8% and 1.1% of the home’s value. For example, for a home valued at $250,000, a landlord could charge between $2,000 and $2,750 each month. But the problem is, there are no homes for 250k in S. CA! LOL! They average being instead about 500k to 600k. For those homeowners or investors with low equity, they'd have to charge about $5,000++ per month and UP, depending on equity. But the average priced home won't rent for that!
Uh oh.
I'd guess there is trouble on the way. My bet would be like the bloated pension system, look for big adjustments in the not too distant future.
There were two methods to compute retirement pay. One included using unused sick leave. Of the two the other one always turned out better for the employee. One was money-match. Can’t remember the other.
In Cal unused sick time was formulated in as work time. so if you worked 20 years and had 1 year of sick leave, the one year of sick leave made your work experience 21 years.
Rentals are in short supply in LA county especially. That is driving up the cost of rent. Illegals flooding the area contribute. 6 illegals working can pay 3000 a month in rent and that also keeps the cost high. Don’t know how many rentals are formuled out the traditional way.
Most the illegals are in hiding out west. This isn’t the 90s or early 2k when illegals were so emboldened they were buying homes. Those days are over, even for CA.
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