The way I look at it, it is their money. And the less the government has control of it, the better. But politicians and unions promised these lofty pensions. A gym teacher in New Jersey, making 112K a year will retire with a promised pension of 61K a year plus full medical benefits for life.
That teacher put in less then 100K into the pension but will get his money back in the first year. The taxpayers are on the hook for the rest of his life.
That is not a pension, it is a Ponzi scam. Madoff went to jail for a scheme like that, but our political officials get re-elected.
>The way I look at it, it is their money. And the less the government has control of it, the better. But politicians and unions promised these lofty pensions. A gym teacher in New Jersey, making 112K a year will retire with a promised pension of 61K a year plus full medical benefits for life.
That teacher put in less then 100K into the pension but will get his money back in the first year. The taxpayers are on the hook for the rest of his life.
That is not a pension, it is a Ponzi scam. Madoff went to jail for a scheme like that, but our political officials get re-elected.
>
Ah, but you’re talking about the 3rd, 4th, 5th, N+ rail-of-politics here...The ‘highly esteemed’ teachers, police, firefighters, etc.
You’re not against the CHILDREN or want NO police, do you? /s
Oh, it’s NEVER enough for them. You property taxes would say something different. Course, not being ‘out of pocket’ for most, they are ignorant on just how much they ARE getting/squandering....for a job THEY decided to take; it wasn’t FORCED upon them.