[quote=pri_dk][quote=CA renter]Are we comparing cubicle workers to prison guards?[/quote]
There are lots of cubicle workers that work for the state. Caltrans engineers, franchise tax board accountants, university system administrators, …
Ever been to downtown Sacramento? Lots of buildings, full of cubicles.
It would be very easy to make an apples-to-apples comparison between the majority of state worker’s jobs and those in the private sector.
[quote]The largest pension funds are obligated to pay out benefits according to contracts, but most of their funding is NOT from “taxpayers.” Employees pay a portion, employers pay a portion, but the majority comes from investment returns. If the investment returns end up being insufficient, they can always extract more from the employees.[/quote]
No, they cannot. That’s the fundamental problem. And you got it completely wrong.
Your first sentence above contradicts the last one. The pension funds do not have to extract from the employees because the contract specifically states how much employees must pay in. If the state goes back to the employee to make up the shortfall, it is a breach of contract, and the employee unions will be quick to point that out.
The crux of the problem is that there is NO contract between the taxpayer, the state, and the pension fund. There is nothing preventing the state from going back to the taxpayer. In fact, because the state is obligated BY LAW to pay the pensions, there is no alternative but to use taxpayer funds to make up the difference.
The drop in value was enough to trigger an automatic increase in the amount the state must pay into the California State Teachers’ Retirement System […]
[quote]The notion that “taxpayers” are the ones paying for everything is pure B.S.[/quote]
You say that “Employees pay a portion, employers pay a portion.” Do you understand who the employer is? Do you understand where their funds come from? Do you understand the source of the employees payroll? It all comes from ONE source.
If it’s not the taxpayer, then what is the ultimate source of these funds?
[quote]People need to understand how the system works before they spout off about it.[/quote]
Yes, they do.[/quote]
I will find the report that shows public sector workers are much better educated and more experienced than the private sector employees they’re being compared to. They also have totally different jobs. Don’t have time at the moment, but will get back to you on this.
As far as your claim that “the money comes from one source,” as stated before, money out of my pocket is money out of my pocket. I’m a taxpayer, and my money is used to fund the outrageous pay of inept executives on a regular basis. So, essentially, all money is coming from “one source” — the taxpayers. I’m not even including all the tax credits and incentives used by those in the private sector. I don’t care if the entity that it’s going to is “public” or “private,” if it’s coming out of my pocket, it is always MY money.
If I’m overpaying someone in the private sector, it is no more acceptable than if I’m overpaying someone in the public sector. IMO, the benefits I receive from those in the public sector far outweigh the benefits I generally receive from those in the private sector.
The employees’ contribution comes from the employees’ pocket. Even what the “employer” contributes is compensation for the employees work (yes, they work, and all too often, they have much more difficult and stressful jobs — that provide a greater benefit to society — than what is found in the private sector).
