Study: $1400 Tax Hike Needed to Fund US Pensions [ every year for the next 30 years ]

CNBC ^ | June 22 2011 | By: Reuters

[NoLibZone]

Conservatives have warned of this for over thirty years.

We each need to spend $116.00 a month more for the next 30 years to pay off the DNC vote buys.

[yldstrk]

Well ain’t that too darn bad. Just downsize government and use the leftover $$$$$$$$$$$$$$$$$$$$$$$$$ for the freakin pensions.

[WKUHilltopper]

Ain’t paying for it...if governments want to do it, they can have a bake sale or something. But otherwise, P-— off.

[NoLibZone]

"New Jersey will need to increase its revenue by the largest margin, requiring $2,475 more from each household per year, according to the study. "

You in Nj need to give over $200.00 a month for 30 years to cover DNC Vote buys.

[South40]

Not a problem for the feds...they’ll just print what they need. /s

[E. Pluribus Unum]

Just because the government swells wrote themselves generous checks doesn't mean we have to cash them.

[unixfox]

U.S. state and local governments will need to raise taxes by $1,398 per household every year for the next 30 years if they are to fully fund their pension systems.

The whole lot of them can go to H E L L!!

[E. Pluribus Unum]

"New Jersey will need to increase its revenue by the largest margin, requiring $2,475 more from each household per year, according to the study."

Even the 47% who don't pay taxes?

Good luck with that.

[Terry Mross]

If the debt was paid off tomorrow morning congress would put us back into debt tomorrow afternoon. The only way they’ll ever stop spending is when they no longer exist. And that will be some scary times of survival of the fittest.

[pnh102]

Of course there is no talk on raising taxes on the over half of US households which pay no federal tax. Why are these people not paying their fair share?

[Lurker]

We need rope, lots and lots of rope.

[sten]

so i get to pay $1400/yr for someone else’s luxury retirement package?

yea... that ain’t happening

[dhs12345]

Wonder why people didn’t bring up these stats during the WI debates.

On the one hand... people were promised these pensions. That was when the economy was booming. I’d be angry too.

On the other hand... the pension system is simply not sustainable. Many of us in the private sector are very worried about our pensions and retirement. Doesn’t seem fair to us either.

Especially, if it means that we can’t afford a “pension” because we are paying for public sector employee’s pensions and commitments.

[EGPWS]

CWII will be along soon.

[WKUHilltopper]

Of course, they’ll laugh it off the next year and claimed they “screwed up” and we need 2k a year, then the next year—so funny, we messed up again—it’s $2,500.

But you might need retirement too, so where’s that money coming from?—well, screw ya. We need your money.

[EQAndyBuzz]

“We need rope, lots and lots of rope.”

Well thank god the envirowhackos want to save the trees. More unintended consequences?

[dragnet2]

U.S. state and local governments will need to raise taxes by $1,398 per household every year for the next 30 years if they are to fund their pension systems

The U.S. private sector is being robbed and gang raped by government, at all levels...

[MSF BU]

It’s even worse because not all households contribute, many are already net tax users and that will probably get worse over time since the baby boomer demographic is now beginning to retire.

[silverleaf]

“per household”

well, that ain’t gonna happen, is it?

Here’s a story that half the “middle class” couldn’t put its hands on $2000 extra in case of an emergency
http://www.daytondailynews.com/business/in-a-pinch-half-of-u-s-families-cant-find-2-000-1182312.html

My city/county combined are raising property taxes, water and sewer rates, and trash fees to the tune of $1000 per “average” household this year alone