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Post by Swampy on Aug 23, 2012 10:38:05 GMT -5
Three of California's cities have filed for bankruptcy, and the question now is if the pensions are at risk. Of course they are. First of all, pensions are pyramid schemes, and, with an aging population, there will be fewer people at the base to support those at the top; second, if the cities can't avoid bankruptcy, if the state is insolvent (just about), how can pensions be protected? |
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tim
Junior Member
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Post by tim on Aug 23, 2012 10:54:16 GMT -5
Public sector pensions can't be protected and, in their present form, should not be. They are a primary reason cities are going bankrupty. Public sector unions negotiate in a one-sided setting in which no one represents the ordinary tax paying citizen. In essence, they negotiate with themselves.
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Deleted
Deleted Member
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Post by Deleted on Aug 23, 2012 10:56:49 GMT -5
Public sector pensions can't be protected and, in their present form, should not be. They are a primary reason cities are going bankrupty. Public sector unions negotiate in a one-sided setting in which no one represents the ordinary tax paying citizen. In essence, they negotiate with themselves. Hmmm. Do you include military and government pensions in this category? |
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Post by Swampy on Aug 23, 2012 11:06:00 GMT -5
I'm not a pension expert, so I can't say. But the typical pension scheme, as I understand it, is unsustainable.
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Post by jerryfmcompushaft on Aug 23, 2012 11:07:34 GMT -5
Public sector pensions can't be protected and, in their present form, should not be. They are a primary reason cities are going bankrupty. Public sector unions negotiate in a one-sided setting in which no one represents the ordinary tax paying citizen. In essence, they negotiate with themselves. Hmmm. Do you include military and government pensions in this category? Military pensions are not negotiated....no unions....we just take what they want to give us as outlined in the enlistment contract (which can be changed anytime the lawmakers want to change it). We are at the mercy of the politicians but sure do thank the tax payers for paying our salaries and retirement....  Buy "government pensions" I assume you mean Federal pensions since all other are covered under the "public sector" title. I am guessing that leaves the pensions given to the congresscritters and the President. They set their own rules so don't even have to go through the sham process of negotiations. And we all know that they deserve to get full pay for the rest of their lives because of the outstanding job they all do at grate personal sacrafice....  |
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Post by Swampy on Sept 4, 2012 9:14:48 GMT -5
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Post by jerryfmcompushaft on Sept 4, 2012 11:08:13 GMT -5
It ain't only the boomers who have to work  |
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