>>It might also turn out that the pension plans for state employees, teachers, prison guards and police have been underperforming More like they award themselv

>>It might also turn out that the pension plans for state employees, teachers, prison guards and police have been underperforming More like they award themselves pensions that can be funded through these means. For eg: http://www.mercurynews.com/2016/11/01/bart-janitor-grossed-270k-in-pay-and-benefits-last-year/ http://www.mercurynews.com/2016/11/01/bart-janitor-grossed-2... There are many such articles written over the years, including those by Arnold Schwarzenegger, about the impossibility of paying pensions the tune to half a million dollars a year per person, for decades(Given how long people live these days). Unions graciously award over time to employees to inflate their net compensation package in the last few years(as that is what decides the pensions). Even productive people, who are at the peak of their performance struggle to make $500K/year. Paying that kind of cash for every single person disproportionate to the value they create/created is possible by only one means- Taxes.