2020 Feb 24, 2:07pm
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Get RepCons off all socialist programs.How many of the RepCon scum are in unions?
In general the tax payers need to take a stand against unreasonable gov employee compensation and fleecing by inefficient organizations with too many managers.
How about going after Golden Parachutes - a much more lucrative target but then that would not be helping the donor base.
So you want a multi-billionaire to tell a civil servant that they get too much money?
What's needed is a cap: 66% of Average Salary (not highest). Ridiculous that a retiree should make $100k/year instead of $66/k.
. Moving to another state is an option.
So public workers only have to chip in 13% and they get a GUARANTEED pension for life because the taxpayers chip in the rest when investment earnings don't meet projections.
These are state and local pension programs, not federal. So what should Trump do to 'go to war' with them?Congress could tax the hell out of the funds, I suppose. But that's it.
Chicago Teachers put in 9%.... On the surface just think about SS. It's baked into your income as a private sector worker 6.2% from employer and 6.2% from employee. It's basically 12.4%. $3,790 is the max SS payout for someone 70 years old. $45k/yr. AND that system is not funding itself. 13% ain't enough for CA and 9% ain't enough for Chicago teachers.
Ideally - millions of middle class and poor people stuck in shitty cities in California and Illinois with high crime and high taxes will tell their government and civil servants that they need to do better and to stop raising our taxes to pay for their ludicrously lavish pensions. But right now we are handcuffed with the "California Rule" that basically says even if a city goes bankrupt, they can't cut pensions. All they can do is:- Raise taxes- Reduce services- Shaft bondholdersHow come civil servants don't have any skin in the game? Why does everyone else have to suffer except government employees?The California Supreme Court is hearing a series of cases this year that will hopefully overturn the California Rule which will free up hundreds of cities to be able to negotiate with their unions and get their finances in order.
While I agree 100% above, how the fuck do shitty cities like these even have bonds?Who the fuck is stupid enough to buy bonds in places like this (ref Puerto Rico as an example)?If NOBODY loaned these municipalities money, they might be more fiscally responsible.
I really don't feel sorry for the bond holders getting shafted going forward. It is insane to invest in Cities run top to bottom by Democrats and their union slave-masters.
It's definitely enabling the behavior of poor city management. But if you've loaned the money 10 times and gotten paid back and each time the interest % keeps going up, you'll likely keep going. People are greedy. Promises and I'm sure kickbacks to get the money are happening all the time.
Well - Trump has already done some good on this with the tax bill that prevents expensive blue states from deducting their state income tax. Some people in California are waking up to the fact that we have incredibly expensive government now that we can't deduct it from our Federal Income.
Secondly - Trump simply needs to make clear there will be no bail out for these States and Cities facing bankruptcy.
The new Republican House could pass a bill banning Federal Bailouts of pensions that don't conform to standards.
socal2 saysWell - Trump has already done some good on this with the tax bill that prevents expensive blue states from deducting their state income tax. Some people in California are waking up to the fact that we have incredibly expensive government now that we can't deduct it from our Federal Income.That has nothing to do with state pensions.