The Wisconsin Lie Exposed - Taxpayers Actually Contribute Nothing To Public Employee Pensions

[underpants]

David Cay Johnson author of the informative "Perfectly Legal" book. A tax expert.


If the Wisconsin governor and state legislature were to be honest, they would correctly frame this issue. They are not, in fact, asking state employees to make a larger contribution to their pension and benefits programs as that would not be possible- the employees are already paying 100% of the contributions.


Maybe state workers need to take pay cut along with so many of their fellow Americans. But let’s, at the least, recognize this sacrifice for what it is rather than pretending they’ve been getting away with some sweet deal that now must be brought to an end.

That is the point. While the governor of Wisconsin is busy trying to shift the blame to the workers in an effort to put an end to collective bargaining, the reality is that it was the state who punted on this – not the employees.

Further, by the state employee unions agreeing to the deal proposed by Walker on their benefits (as they have despite Walker’s refusal to accept it) they are taking on much - and possibly all – of the obligation out of their own pockets.

As a result, the taxpayers do not contribute to the public employee pension programs so much as serve as insurers. If their elected officials have been sloppy , the taxpayers must stand behind it. But if the market continues to perform as it has been performing this past year, don’t be surprised if the funding crisis begins to recede. If it does, what will you say then?

http://www.forbes.com/sites/rickungar/2011/02/25/the-wisconsin-lie-exposed-taxpayers-actually-contribute-nothing-to-public-employee-pensions/

[Scuba]

1. Old, but worth bringing back. Thanks.

[fascisthunter]

2. too bad the DNC is abandoning Wisconsin Dems and Labor Unions itself

[Zax2me]

3. But the deferred money - is from tax payers. Just semantics.

In any case, it won't turn the election.
Need to pay attention to the CRIMINAL acts by the gov.