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The story allegedly is that it goes down the government pensions sink hole. That pension thing is crazy in and of itself. They put a commitment to fund pensions
by gautamdivgi 4y ago
The story allegedly is that it goes down the government pensions sink hole. That pension thing is crazy in and of itself. They put a commitment to fund pensions in the constitution. It’s nuts.
- swayvil 4y agoOh what a tasty bit of propagandistic argumentation that is. The reaction : everybody with a pension, or expecting a pension, fearful of losing their nestegg, rallys to defend the high taxes. And wailing fills the air, obscuring further discussion.
- pessimizer 4y agoThe government pensions sink hole was investing the cash with insiders who lost and stole it all, so it became a constant drain to pay out. They put a commitment to fund pensions in the constitution because the retirees who worked for bad salaries in exchange for these pensions deserve not to have to continue to fight for them. I would ask you to research John Filan for more details, but you'll find very little because this kind of history gets erased and substituted for angry rants about some appointee retiring at 45 on 3x his salary, to his own consulting company whose only client is the state, or a lobbying firm. As a reaction to those rants, it's retired teachers, DMV clerks, and garbagemen that get shit on. edit: this is absurdly detailed, although it glosses over a lot of stuff that Crain's ideologically approves of https://www.chicagobusiness.com/static/section/pensions.html https://www.chicagobusiness.com/static/section/pensions.html