So far any pension reform in CA cities has amounted to nothing. The problem cannot be solved by putting future employees on 401k’s. They need to immediately convert all future pension earnings into 401k’s.
Now, with the RATS in firm control of CA..that will never happen. IL is worse.
The RATS have to figure out how to federalize this problem..otherwise business and people will leave these states. So the Exit Tax is not out of the question..or a universal tax..
“The RATS have to figure out how to federalize this problem..otherwise business and people will leave these states. So the Exit Tax is not out of the question..or a universal tax..”
if the dems re-gain the house in 2014, then this will be the next, swift step to be taken