Sales-tax hike’s roots lie in pension increases

[briansd1]

If you look at it from the point of view of the taxpayers, defaulting on the pension obligations is the most beneficial thing to do.

Services will actually increase since we’ll have more money to spend on services.

Forget the retirees, let’s spend the money on the services that the city needs.

Contracts are made to be broken and renegotiated.

[andymajumder]

I keep hearing this – even on KPBS radio I heard this a couple of times, that the pension commitments cannot be gotten rid off and even if the city declares bankruptcy – it still has to pay these ridiculous pensions. Is that true?

[andymajumder]

I keep hearing this – even on KPBS radio I heard this a couple of times, that the pension commitments cannot be gotten rid off and even if the city declares bankruptcy – it still has to pay these ridiculous pensions. Is that true?

[andymajumder]

I keep hearing this – even on KPBS radio I heard this a couple of times, that the pension commitments cannot be gotten rid off and even if the city declares bankruptcy – it still has to pay these ridiculous pensions. Is that true?

[andymajumder]

I keep hearing this – even on KPBS radio I heard this a couple of times, that the pension commitments cannot be gotten rid off and even if the city declares bankruptcy – it still has to pay these ridiculous pensions. Is that true?

[andymajumder]

I keep hearing this – even on KPBS radio I heard this a couple of times, that the pension commitments cannot be gotten rid off and even if the city declares bankruptcy – it still has to pay these ridiculous pensions. Is that true?

[pjwal]

The argument for the proposed tax hike (that the city council will concede to pension reform) is a complete non sequitur. They have to clean up this mess either way and a tax hike, that would only temporarily raise revenue, would only serve as a temptress away from real long term reform.

[pjwal]

The argument for the proposed tax hike (that the city council will concede to pension reform) is a complete non sequitur. They have to clean up this mess either way and a tax hike, that would only temporarily raise revenue, would only serve as a temptress away from real long term reform.

[pjwal]

The argument for the proposed tax hike (that the city council will concede to pension reform) is a complete non sequitur. They have to clean up this mess either way and a tax hike, that would only temporarily raise revenue, would only serve as a temptress away from real long term reform.

[pjwal]

The argument for the proposed tax hike (that the city council will concede to pension reform) is a complete non sequitur. They have to clean up this mess either way and a tax hike, that would only temporarily raise revenue, would only serve as a temptress away from real long term reform.

[pjwal]

The argument for the proposed tax hike (that the city council will concede to pension reform) is a complete non sequitur. They have to clean up this mess either way and a tax hike, that would only temporarily raise revenue, would only serve as a temptress away from real long term reform.

[GH]

Most pension commitments which are problematic were made based on an assumption of growth, both in terms of tax revenue and in terms of investments which were assumed to return 8% annually. Obviously today, many have lost value or are at best returning just a small fraction of this amount.

I doubt tax increases are on the menu, and even if they were, I doubt it would raise revenue as the economy continues to circle the drain.

[GH]

Most pension commitments which are problematic were made based on an assumption of growth, both in terms of tax revenue and in terms of investments which were assumed to return 8% annually. Obviously today, many have lost value or are at best returning just a small fraction of this amount.

I doubt tax increases are on the menu, and even if they were, I doubt it would raise revenue as the economy continues to circle the drain.

[GH]

Most pension commitments which are problematic were made based on an assumption of growth, both in terms of tax revenue and in terms of investments which were assumed to return 8% annually. Obviously today, many have lost value or are at best returning just a small fraction of this amount.

I doubt tax increases are on the menu, and even if they were, I doubt it would raise revenue as the economy continues to circle the drain.

[GH]

Most pension commitments which are problematic were made based on an assumption of growth, both in terms of tax revenue and in terms of investments which were assumed to return 8% annually. Obviously today, many have lost value or are at best returning just a small fraction of this amount.

I doubt tax increases are on the menu, and even if they were, I doubt it would raise revenue as the economy continues to circle the drain.

[Author]

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