You and your dad are correct
[QUOTE=Rock Harders;414968](about 72%) of their BEST annual salary.[/quote]I wish your parents great happiness and longevity, despite the implications for the affected taxpayers.
They will be paid 72% of their best annual salary for doing absolutely nothing (no offense meant to either of them). That isn't to say that they didn't do anything to earn a pension rather it is to say that there is very little chance that they or anyone else in there situation so 'over contributed' to the entity during their tenure that such largess is merited.
A defined contribution pension with some level or matching is far more appropriate for private and public sector employees because it not only encourages personal savings, it requires it to maximize your benefit package. This helps to allign the retirement responsibility where it should be, on the individual. After all, when you retire, who should be responsible for paying your bills? You? Or the taxpayers?
That said, your father is correct:
[quote=]he says he got what he got because the state signed a contract agreeing to it and after that contract expires the state can do whatever it has to do. [/quote]It is not appropriate to take contractually obligated and legally obtained wealth from state retirees anymore than it is to take it from Bill Gates or Barbara Streisand. However, there has to be a line drawn in the sand that says "from this point forward there will be no more defined benefit plans." It is immoral and clearly unsustainable for entities to agree to defined benefit plans when they know that: 1) they will be stealing more from taxpayers to pay expenditures that should not be born by the taxpayer. 2) the payments are being made to 'noncontributing' individuals. 3) the private sector tax payers who are burdened with these payments are unlikely to ever be offered or receive such benefits, and 4) this model is absolutely unsustainable.
[quote=]I attempt to explain to my mother that teachers should have to either work more for the same money or take a pay cut because the employer (the state) is broke and needs to cut costs. She routinely refuses to accept my logic and babbles on about greedy capitalist pigs, etc.[/quote]With all due respect to your mother, who I am certain is a wonderful woman, trying to impart knowledge of the real world upon a union teacher is like Sisyphus asking for a water break.
[quote=]I try to explain to her that I am thrilled with the fact that my own parents get such nice compensation, from a pragmatic standpoint it is bad for the financial health of the state because it is unsustainable; she wants to hear nothing of it.[/quote]The fact that they are absolutely entitled to receive the benefits to which the two parties agreed at the time of their respective contracts, is not mutually exclusive of the fact that it s wholly unsustainable. However, she may, consciously or subconsciously feel that by accepting the truth of the latter she may somehow delegitimize the former. Nothing could be further from the truth. They fulfilled their end of the bargain, they deserve what they were promised. What we have to change is what people are promised, going forward.
I knew there was something I liked about this Gandolf dude!
[QUOTE=Gandolf50;414971]WW you seem to have a excellent grasp of what has happened and how it happened plus you seem to understand what needs to be done. Why don't you get a job with Obama or better yet run for president yourself? Suerte![/QUOTE]I promise that if elected, I will end social promotion of liberal children through our schools. I will make extra certain that liberals are educated in the lost art of math and will end the practice of giving defined benefit plans to anyone (liberal, conservative or otherwise) being paid by taxpayers.
I love Esten. He is like the bird that keeps flying into my plate glass window. He fearlessly and blindly jumps into the conversation, avoiding the topic at hand, and delivering yet again, another of his typical "spread the wealth" non sequiturs. In typical knee-jerk liberal fashion, Esten dives headlong into the fray to protect the innocents, who, were it not for the swashbuckling men in tights (like Esten), would be starved of the sustenance that they need to survive (food stamps for smokes, free tattoo removal services and govt cheese) by the heartless right-wingers who want to cut, cut, cut and make old people and children eat dog food, all without having taken the time or extending the effort to grasp the issue. Bravo.
My assessment of defined benefit plans is as apolitical as I can get and I have never proposed cutting any retirement benefit plan already earned by anyone. Showing characteristic deftness and the ability to deal with specific issues as well as the broader tapestry of societal fabric, I made a point of leaving my opinions regarding unions out of my keen assessment of defined benefit retirement plans. In fact, on this subject, pension plans, I never suggested cutting any benefit earned by any individual, no matter how ludicrous the benefit. What I did say was that we as a society to make defined benefit plans unavailable to anyone (who hasn't already contractually earned one) on the taxpayers' dime, going forward.
In Washington, as well as other dysfunctional cesspools of liberal gibberish (like our dear colleague's mind) , eliminating an unnecessary, potential future give-way of taxpayers' money is somehow viewed as a cut.
On the subject of balancing municipal, state and federal budgets, the fact of the matter is that not only can all these budgets be brought into balance through spending cuts alone, that is exactly how they should be fixed. The severity of the cuts to discretionary spending (i.e. elective spending) is directly related to the amount of money committed to non-discretionary spending (payments they must make). All of the payments to retired employees who are no longer contributing to the entity (i.e. they are not exchanging services or other things of value in exchange for the cash that they receive) under retirement benefits are non-discretionary expenses (they must pay them come hell or high water). Therefore, if the government entity is paying lots of retired, former employees to do absolutely nothing, then there is less money available in the budget for discretionary spending.
If there isn't enough discretionary dough around for all your pet projects, stop the practice of paying people for not contributing.
You never want a serious crisis to go to waste.
[QUOTE=El Alamo;415035]There is a better correlation between solar activity, the price of rice in China and the divorce rate in Timbuktu than there is a correlation between talk radio and the events in Tucson.[/QUOTE]You just know that the left wing media was waiting in eager anticipation to learn that the perpetrator of the tragedy in Tucson was a Tea Party member.
Sorry Charlie! The facts in this case indicate that Loughner never listened to talk radio, never watched cable news, and in fact apparently had no political agenda.
Of course, the left wing pundits didn't let these facts get in the way of exploiting this tragedy to serve their own political agenda.
Rahm Emanuel on Nov 21, 2008: "[I]You never want a serious crisis to go to waste.[/I]"
FYI, statistically, the large majority of politically motivated acts of violence have been perpetrated by individuals of leftist beliefs.
Thanks,
Jackson