Posted on 04/05/2010 9:37:48 AM PDT by george76
If they can’t get out of the contracts there is a solution, although I presume it needs to be done at the state rather than the municipal level. Use their own favorite weapon against them; they’re too rich so tax them. Setup a windfall pensions tax on pensions from government. Start it at a level and set a rate sufficient to balance your books. Start a PR campaign to demonize those newly subject to it as rich fat cats; that won’t be hard as it will be mostly true! The state can use such funds to directly solve its own pension problems and can bail out lower levels of government with them. I don’t think the states can contract away their taxing powers so I don’t think any contract can block this. The unions can try any number of defenses based on unequal treatment under the laws, but that should be a hard sell in the courts based on the many cases of them supporting similar taxes on others. If the unions were smart they’d negotiate a better deal when threatened with such a blunt tactic. If they’re not, well then they’ll just be providing chances to reduce the government workforce faster.
You know or should know that the reference is using the bankruptcy system to escape ones contractural - and some would say - moral obligations. The reference was not about the techincal use of bankruptcy.
And where to you get off calling people “idiot” on FR? That is way outside the bounds for FReepers. Head on over to the Dummie Underground if you want to reduce the level of debate to that level.
I’ll accompany you to your union meeting on the way.
When they charge me a service fee for financial services- yes.
This advisor would not return my phone calls until after the stock market closed. By then I sold them myself.
I got out of it with a small profit
Small profit is better than a sharp stick in the eye.
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