Yup, it's a big deal. We have middle level state and local employees retiring with $100k+/year pensions.
Prop 13, passed in 1978, requires a 2/3 majority to increase taxes. Despite that, local and state politicians gave huge wage and benefit increases to public sector employees in exchange for support. Now we are screwed, with massive pension and health care obligations to these employees.
The good thing is that there's always the option of moving out of California, which I will probably do in the next 2-3 years.
Yup, it's a big deal. We have middle level state and local employees retiring with $100k+/year pensions.
Prop 13, passed in 1978, requires a 2/3 majority to increase taxes. Despite that, local and state politicians gave huge wage and benefit increases to public sector employees in exchange for support. Now we are screwed, with massive pension and health care obligations to these employees.
The good thing is that there's always the option of moving out of California, which I will probably do in the next 2-3 years.
Jim..........yes, a BFD.
This is NOT exclusive to California, but is popping up in many states. The link below details the public sector employees and the MASSIVE pensions that are given to bleed the U.S. taxpayers.
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Jim
Yup, it's a big deal. We have middle level state and local employees retiring with $100k+/year pensions.
Prop 13, passed in 1978, requires a 2/3 majority to increase taxes. Despite that, local and state politicians gave huge wage and benefit increases to public sector employees in exchange for support. Now we are screwed, with massive pension and health care obligations to these employees.
The good thing is that there's always the option of moving out of California, which I will probably do in the next 2-3 years.
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skyrider
Jim..........yes, a BFD.
This is NOT exclusive to California, but is popping up in many states. The link below details the public sector employees and the MASSIVE pensions that are given to bleed the U.S. taxpayers.
pensiontsunami.com -- tracks the ongoing abuse of pensions.
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