[quote=CA renter]
Why are these pensions guaranteed? Because that is what was agreed upon decades ago. Because that is what drew these employees to these jobs. Govt workers earned their benefits and negotiated for them in good faith. They’ve all given up other things (money, vacation, stipends, etc.) in exchange for their retirement benefits because they negotiate for their entire compensation package when they determine what to get and give up.
[/quote]
Here’s the problem with your argument: Government workers did NOT “negotiate” for these benefits in good faith. They “negotiated” for these benefits with politicians who were sitting on the SAME SIDE OF THE TABLE. Which is exactly why so many states don’t allow for collective bargaining among municipal employees – they understand this. They also understand that even in the absence of collective bargaining, the politicians making these decisions will STILL be unduly influenced by the public employees’ representatives because they represent a huge and vocal voting bloc.
It’s kind of like saying that corporate boards of directors negotiate in good faith with the CEOs of their companies. It’s a joke. The board determines the CEO’s pay, but the CEO has enormous influence over the board’s pay – they’re all in bed together. So, it’s just a matter of trying to minimize how bad the outcome is going to be. But, despite how flawed that arrangement is… at least it’s in the PRIVATE sector. Certainly we shouldn’t be imposing a similar flawed dynamic on the taxpayers, no?
