4 ms·
If private sector employees want public sector benefits and job protections, they can agitate for them. Talk to your coworkers about organizing and unionizing.
by content_sesh 6y ago
If private sector employees want public sector benefits and job protections, they can agitate for them. Talk to your coworkers about organizing and unionizing.
You don't need to drag down others to pull yourself up.
- mc32 6y agoCompanies who overcompensate can liquidate if they have to. Cities can’t easily dispose of their obligations no matter how foolhardy they were. Instead they raise taxes, deliver fewer services or incur further debt via bond issuance.
- WkndTriathlete 6y agoNo. There are three problems with defined-benefit systems, especially as a form of civil servant benefit: 1) There is far too much risk involved. No one really knows how long a person will live beyond retirement 40 years from now; 2) The systems, as they are in place today, result in retirement income that far exceeds expected returns from investment or growth in GDP over the preceeding 30-40 years of work, and are unsustainable by taxpayers _by definition; 3) The taxpayer - who should be the adversary when negotiating pensions and salaries for public servants - gets no place at the table during negotiations. It is in the best interests of both the leadership of civil institutions and the employed civil servants to increase both salary, pensions, and benefits far beyond any rational economic analysis. Eventually these policies result in places like Flint or Detroit. My expectation is that Illinois is likely to join them in about 10 years they are so far in the hole.
- diebeforei485 6y agoActually, given how corrupt SF is, I don't want my tax dollars going to unsustainable pensions. The city has had budget issues for a long time and it's getting even worse this year.