Re: The one piece on what's happening in WI you must read

WI is a state with one of the highest tax burdens in the country, and the
cycle of raising taxes, raiding other funds to pay pre-existing debt, and
borrowing against the future has to stop. Given our state's history as a
Democratic stronghold, the people voted against that party down the line in
the last election, an historic reversal of the status quo. I do see fiscal
responsibility in this state as a heroic notion. As a taxpayer, this is a
breath of fresh air. As a citizen, it's scary just how much the unions are
throwing their collective weight and warchests against Gov. Walker. This
isn't just about the people of WI going about their business, it's taken on
a much larger significance, and that's scary and wrong.

Johne Cook
| http://raygunrevival.com | http://authorculture.blogspot.com |*
*


On Wed, Mar 9, 2011 at 11:26 PM, nicholas a. evans <[email protected]
> wrote:

>
> On Mar 1, 2011 4:45 PM, "Johne Cook" <[email protected]> wrote:
> >
> >
> http://www.washingtonpost.com/wp-dyn/content/article/2011/02/24/AR2011022406520_pf.html
>
> I've a couple of nitpicks.
>
> > They were contributing a fifth of a penny on a dollar of wages to their
> pensions and one-fourth what private-sector workers pay for health
> insurance.
>
> This is very misleading.  The simple fact is that 100% of an employee's
> negotiated compensation is 'contributed' by the employee.   What percentage
> 'comes out' of the base salary is mostly irrelevant accounting details
> primarily motivated by tax law or marketing spin.  Comparing this minor
> detail in one compensation package vs another rather than comparing the
> complete packages is deceitful and harmful to understanding.
>
> This isn't 'bringing it in line with the private sector', it's a simple
> paycut and possibly a breach of contract.
>
> >> In the private sector, the capitalist knows that when he negotiates with
> the union, if he gives away the store, he loses his shirt.
>
> In the private sector, the employer who treats his employees with respect
> and honesty from the beginning usually has little need to deal with unions.
>
> > desperately trying to hang on to the gains of their glory years - from
> unsustainable federal entitlements for the elderly enacted when life
> expectancy was 62 to the massive promissory notes issued to government
> unions when state coffers were full and no one was looking
>
> No one was looking?  This is dishonest.  They are legally required to keep
> 'looking' and regularly report exactly how full the pension fund is.  The
> life expectancy didn't jump up overnight.
>
> What the politicians and bureaucrats don't want to admit is that they
> mismanaged the fund during the boom years, effectively stealing from the
> employees.  Now that the bubble's popped they can't hide behind unreasonably
> optimistic projections anymore.  They underpayed the fund when times were
> good and now that times are bad they are diverting attention from their
> earlier incompetence.
>
> Insurance and annuities and pensions are some of the most wonderful and
> useful financial tools.  But I'd never trust them to be managed by
> politicians.
>
> >> Amazingly, the answer is: now. Led by famously progressive Wisconsin -
> Scott Walker at the state level and Budget Committee Chairman Paul Ryan at
> the congressional level - a new generation of Republicans has looked at the
> debt and is crossing the Rubicon. Recklessly principled, they are putting
> the question to the nation: Are we a serious people?
>
> This framing of Walker, et al. as heroes leaves me a little bit nauseous.
> My belief is that the whole union smashing bit is just sleight of hand along
> traditional partisan arguments to distract us from the more dastardly bits
> of the bill: e.g. the no-bid energy asset firesales.  Corruption and crony
> capitalism at its finest.
>
> --
> Nick
>
> --
> dadl-ot mailing list
> http://mail.thehood.us/mailman/listinfo/dadl-ot_thehood.us
> http://news.gmane.org/gmane.music.dadl.ot
>

-- 
dadl-ot mailing list
http://mail.thehood.us/mailman/listinfo/dadl-ot_thehood.us
http://news.gmane.org/gmane.music.dadl.ot