Do realize that the bulk of the losses will be “paid for” from public employees’ compensation (already happening) and private contractors who won’t get the lucrative govt jobs they all lust after. That’s why they’re pushing the anti-union message. Taxpayers (and this includes public employees, BTW, who pay some of the highest tax rates since all of their income is W-2) will not be the primary beneficiaries of any possible “savings” from public employee pensions or compensation.
[quote=CA renter]Taxpayers (and this includes public employees, BTW, who pay some of the highest tax rates since all of their income is W-2) will not be the primary beneficiaries of any possible “savings” from public employee pensions or compensation.[/quote]
Maybe that’s a good solution to the pension program. Make public employee income tax free. Lower the pay to compensate for that zero income tax and then the pension payment can be based on that lowered tax free salary.
Tax expenditures still cost the taxpayer money, even if the number is “hidden.” That’s why wealthy people and corporations like these types of subsidies…because it’s more difficult to quantify, and Joe Sixpack doesn’t realize that taxpayers are the ones left holding the bag.
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