[NoLibZone]

"Taxpayers kicked in $7.35 billion to the city pension funds last fiscal year, while employees contributed $853.5 million."

That 7 Billion could have been used to help starving women and childern, build new libraries, new schools.

[taxtruth]

What a scam!

[Ladysmith]

Nothing like numbers to give people a clearer picture of what’s going on.

[Uri’el-2012]

Bernie Madoff went to jail for this form of Ponzi scheme.

[muawiyah]

It's a trick with numbers.

Let's say we have a civil engineer. No matter who hires him he's going to cost the company or government agency pretty much the same ~ let's say it's $125,000 per year to hire on a civil engineer with appropriate certifications (that's going to include base pay, probable special or "overtime" pay, vacation, holidays, sick leave, retirement and medical insurance)

To the employer this engineer costs $125,000 no matter how you cut it.

So what's the best deal we can make him? If we pay him $125,000 flat out ~ straight salary, he's going to be paying a chunk of it at the highest possible federal income tax rate, and the highest possible state income tax rate. He'll be paying full Social Security. He'll have to buy a single medical policy which will run him well in excess of $20,000, and so on.

From the prospective engineer's point of view that $125,000 has gotten turned into $50,000 or less PDQ.

Let's say we tell the engineer, "Hey, well give you your retirement ~ we make a deposit in the fund equal to 20% of your base pay ~ then you don't pay federal and state taxes at the highest rate. That's worth an extra $7,000 per year!"

Yeah, he likes that. Then they offer him a "free" medical insurance plane, which he likes. Next thing you know he's got fully paid retirement, free medical insurance, and his take home is nearer $75,000 than the $50,000 he'd have gotten if he took full salary and paid for these things out of pocket. Plus, he got a great deal ~ his retirement and his medical are all on group plans, and he gets more for less.

The cost to the folks hiring this engineer continue to be $125,000.

All the Manhattan Institute is quibbling over is HOW the engineer gets paid ~ not what he costs.

Such debates are designed to fire up class envy and make it easier for the Communists to infiltrate our society and take over.

[Trajan88]

After reading this ... it is obvious why that turd mayor Bloomburg and company classify someone as "living" in NYC for a mere 183+ days (I think that's the magic number) is classified as a citizen and then has to pay mega taxes.

Is pretty funny Rush Limbaugh kicked NYC to the curb... the city govt. there can suck it.

[Sarajevo]

At the same time, they have to pay a steadily mounting cost of guaranteed pensions for government workers."

Those "guarantees" can be broken. It's done to military retiree's all the time.

[Cacique]

Btt