The US needs much more people like Justin Amash but unfortunately too many people don't seem to care.
ahh.. politicians promising unions the world in exchange for their votes.
"vote for the person who gives the most out of the public treasury."
plus the corruption and mis-management of the people running the pension.
but should retirees be the ones to pay the price?
public sector parasites unfunded liabilities - liberal financial policies 101
should read: "democrats promising..."
should read: "vote for the democrat..."
should read: "...of the democrats..."
ah...reminds me of a couple of quotes...
"we are the ones we've been waiting for"
"chickens come home to roost"
another way to phrase the question would be, "should we be held responsible for what we put in place?" see the above quotes
Again...I think this should be a problem for the state. Our AG is very in favor of helping and I would not be surprised to see the governor come out in favor of helping. I am in favor of a vote to see if the state should bail them out. I would vote yes.
i was merely pointing out where the responsibility lies. but i'm curious as to why you would favor rewarding failure. greediness. criminal mischief, the same type thinking that leads to illegal immigrants being given a pass for breaking the law?
Found a statement from the summer:
http://mobile.reuters.com/article/idUSBRE96Q0A220130727?irpc=932
Michigans constitution protects those pensions. I'm all for cutting expenses but this is not the way.
Send me the tax bill. I'll pay it.
That is cool of you to say, and you are right that it is no the pensioners fault. However, in being willing to foot the tax to bail them out, I would at the same time demand it be coupled with reform legislation to mitigate future instances of broken pension funds too.
Believe me...I'm not. I am never in favor of government bailouts. But these are my neighbors. People that did an honest day's work for an honest day's pay. That is why I said it's a state issue. We all need a chance to vote on it and whatever the outcome, I will accept.
That is cool of you to say, and you are right that it is no the pensioners fault. However, in being willing to foot the tax to bail them out, I would at the same time demand it be coupled with reform legislation to mitigate future instances of broken pension funds too.
Do you happen to know what the total pensions equal in dollars divided by the population of tax paying Michiganers is? In other words, what each would pay in taxes to help out? Just curious.
Do tell what makes Amash such a great person.
More details would be great. In CA your Teacher pension benefit is based on number of years of service. You all of a sudden don't get a great pension after 10 years of service. My Mom was a teacher in CA and worked for almost 42 years and she does have a great pension benefit but that was for 42 years of teaching. Also I believe there is also what they call a windfall provision which reduces a public employee pension if Social Security is also collected. So if you also qualify for say $800 a month in Social Security benefits and you take it you lose $800 a month in pension benefits. This really hits hard the people that switch careers in mid-life to start teaching.
still butt hurt that the Democrats own and will continue to own the White House for many more years....another way to phrase the question would be, "should we be held responsible for what we put in place?" see the above quotes
still butt hurt that the Democrats own and will continue to own the White House for many more years....
Should retirees be the ones to pay the price?
it is in fact their fault. anyone who paid attention could see the writing on the wall, it did not happen in a vacuum.
I wonder what affect the bond cuts will have on the city's future ability to float new bonds.
Fern
detroit bankruptcy plan approved - retirees only lose 4.5% instead of 34% due to optimistic math
http://www.nytimes.com/2014/11/08/us/detroit-bankruptcy-plan-ruling.html?_r=0
to make pension cuts acceptable to retirees, for example, the city based its exit strategy on an assumption that pension investments would earn average annual returns of 6.75 percent, something ms. Kopacz said was too aggressive for a fragile city that could not afford investment losses.
But if the pension investments do not produce the returns needed, the city will have to make up the missing money.
isn't this what caused the city to go bankrupt in the 1st place!? Unsustainable promises...
I dont see much got solved. basically they just kicked the can down the road.
business as usual.
Sigh..
My mom knew a very successful private music teacher who made very good money. All of a sudden, in her late 40's, she went back to school to get a music education degree and took a job teaching music at rural public school (state of Illinois). She went from teaching very high-level private students to babysitting rural farmboys and girls trying to clap out a proper rhythm.
Why? I don't remember the exact details, but I'm pretty sure my mom said she only needed to teach for 10 years to qualify for a very nice pension. That was probably about 7-8 years ago, so I'll have to ask my mom again about the details.
ahh.. politicians promising unions the world in exchange for their votes.
"vote for the person who gives the most out of the public treasury."
plus the corruption and mis-management of the people running the pension.
but should retirees be the ones to pay the price?
This is what happens with public sector unions... they keep voting in their own people who enact sweet pension plans without ever thinking about who will ultimately pay for it all. So sadly the retirees will pay the price. This will be repeated all over the nation.
So, you are claiming that there are so many public sector workers that they can swing elections city/state/country wide?
There are only about 14 1/2 million unionized workers in total (public and private sectors combined) in the United States. Mind explaining how those people, scattered all over the country, are able to exert such voting power? Each union member's vote has a special tag that allows the vote to be counted 1000 times perhaps?
Are you countering that unions don't have an influence in elections? Remember, they have a lot of money to donate just like corporations do.
Detroit Bankruptcy plan approved - Retirees only lose 4.5% instead of 34% due to optimistic math
http://www.nytimes.com/2014/11/08/us/detroit-bankruptcy-plan-ruling.html?_r=0
To make pension cuts acceptable to retirees, for example, the city based its exit strategy on an assumption that pension investments would earn average annual returns of 6.75 percent, something Ms. Kopacz said was too aggressive for a fragile city that could not afford investment losses.
But if the pension investments do not produce the returns needed, the city will have to make up the missing money.
isn't this what caused the city to go bankrupt in the 1st place!? unsustainable promises...
i dont see much got solved. basically they just kicked the can down the road.
business as usual.
sigh..
The people who are responsible would be a nice change.
To make pension cuts acceptable to retirees, for example, the city based its exit strategy on an assumption that pension investments would earn average annual returns of 6.75 percent, something Ms. Kopacz said was too aggressive for a fragile city that could not afford investment losses.
But if the pension investments do not produce the returns needed, the city will have to make up the missing money.
isn't this what caused the city to go bankrupt in the 1st place!? unsustainable promises...