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I couldn't get the video but I know the story. I was thinking about California's request for a bailout. Firefighters, EMT's and Police can retire at 50 with 90% of their regular pay. The "Governator" stated that a bulk of the bailout money would be to cover these costs. Sound familiar? I don't know of too many people who want to work to pay their taxes for what seems like the 81st Airborbe in golden parachutes from the Golden State.
I see a pattern here, and it's making me sick!
Even the Hartford People's Daily (aka the Courant) gets it right once and a while, with a little help from the public.
http://blogs.courant.com/cartoon_captions/Caption…
Just making sure I understand correctly we are now moving on to police and firemen and emt and states workers and local workers and everybody in America.Now that the autoworkers have been dragged throug the coals so well and good.Is there not anybody in america that is not the enemy. School teachers, union workers, state workers, federal workers, proffesors and newspapers and local news shows and certain tv shows and certain radio shows and minuma wage earners and those with penisions and those that labor for a living and the north east states and there represtaives and California and those other mid west states and now also certain southern states and there leaders people with childen in public education schools. So many ,so many,so many of Americans that I ask who is left? The only ones that seem to be ok are illegal alliens workers working the fields at a dollar an hour with no beifits.Except they are illegal so another sub group but the quote stands the only people that are or seem to be excepted are those who have no benifits and make less then the minuma wage you want to get rid of.
**Cues violins for Gary's lament**
There has been a long standing seperation of private sector employees and public sector employees. There is more money for pay in the private sector as the public sector gets it's revenue from taxpayers.
The public sector, to encourage people to work for less pay have to sweeten the pot. Public employers offer long term benefits such as early retirement at a % of last pay history. Public employees can retire at 20 years with 50% pay, and the longer they work, the higher the % of retirement pension pay. Early retirees can start a second career and easily surpass their retirement pension income with their second career pay.
It's time for both sectors to make better long term pay and retirement plans for the benefit of all. There is no reason a prison guard can bulk up on overtime for 5 years, earn $90K and retire at $45K at the age 40 and earn $45K forever via the public pension and start a second career. Enough is enough. This happens routinely throughout the country.
To add to Wayne's comments, one has to remember that the norms of pensions and retirement were based on a lifespan normative of, what, 40 years ago? 60?
Reality changed, the metrics didn't.
Yes dave your 100 percent right thanks
The CIA say americas born today will live to 78.14 years. That ranks America 46 in the world. The as of now retirement will be 67 years old leaving someone ten years before there is a pile of dirt thrown on there dead decomposing body..So when you are dead will you wish that you did more to make sure others earned less money and celbrate the time you spent talking down others and the money they made.
Gary: "The CIA say americas born today will live to 78.14 years. That ranks America 46 in the world. The as of now retirement will be 67 years old leaving someone ten years before there is a pile of dirt thrown on there dead decomposing body."
Ah, but the period when SSI, for example, was instituted, the expected life span of a white male was approximately 61 years and just shy of 65 for a white woman. However, the retirement age has changed only modestly, despite the expected life-span being 17 year longer, give or take.
Gary: "So when you are dead will you wish that you did more to make sure others earned less money and celbrate the time you spent talking down others and the money they made."
No, Gary, I will be contented that I kept others from picking my pocket for some politically expedient boondoggle meant to preserve the two parties' cash cow donors, specifically the UAW and the Big Three automakers.
Eventually I think anybody who wants to keep some kinda pension whether it be public or private sector better start to think about renegotiating their contracts . Both sectors cannot continue to finance these pensions ,getting money from the Feds makes no sense it all comes full circle in the end meaning we will be taxed for it down the road. All these were probably negotiated with a certain amount of future income coming in whether it be taxes in the public sector or sales in the private. That well has dried up either take what towns, cities and states can afford or take nothing at all.The UAW is going to find this out first because their bosses at the Big 3 don't have the money to keep funding nonproductive workers anymore.Binding arbitration must be repealed so that the hands of government are not tied by somebody who is not affected personally by their decisions . I often wonder if these arbitrators were to be affected by their decisions if the outcome would be different.
A lot of industries, particularly where there are no contracts, have been doing just that, shifting from a "defined benefit" model (you're guaranteed a certain percentage of your salary) to a "defined contribution" model, putting a specific amount into the employees 401K.