What Detroit's bankruptcy really loooks like. (2013, tax, live)

[zthatzmanz28]

A great video that shows who the people are that will be trashed...


Retirees facing their own economic demise.

[animatedmartian]

Definitely a great video. Though I get the feeling this will turn out similar to the auto-industry bankruptcy. By the circumstances of the situation, those people are gonna take a hit. And of course the people at the top are gonna be the least effected. I definitely sympathize with them.

[belleislerunner]

I fail to see the purpose of the video. No one is naive enough to think that people won't be impacted.

Let's pretend for a minute that the judge sides with the union and states no benefits are to be cut.

Given all we know/have today, please provide the funding source for the current and future pensions.

We're either part of the problem or we're part of the solution.

[313Weather]

Broke means broke people. You can't squeeze blood from a turnip.

[Zippyman]

Originally Posted by belleislerunner

I fail to see the purpose of the video. No one is naive enough to think that people won't be impacted.

Let's pretend for a minute that the judge sides with the union and states no benefits are to be cut.

Given all we know/have today, please provide the funding source for the current and future pensions.

We're either part of the problem or we're part of the solution.

The "solution" (breaking promises) will have consequences - during poor economic times, governments can pick and choose who to hire, and retaining people once hired is pretty easy, due to the benefits.. if the benefits are no longer guaranteed, then good luck retaining any employees when the economy starts moving again..

The private sector is already experiencing this due to their own mistakes - employees no longer feel any sense of loyalty & leave at the drop of a hat, they do the minimum necessary to keep a job until they can get something better.. in the private sector, seniority carries no value and there are no pensions, nor any expectation that management will make any effort to retain employees..

The only thing worse than a society of socialist-leaning employees, is a society of capitalist-leaning employees, putting their own interests ahead of their employers..

there are lots of "capitalist" cops, judges & mayors in Mexico - the result is you get all the justice you can afford..

[zthatzmanz28]

Originally Posted by belleislerunner

I fail to see the purpose of the video. No one is naive enough to think that people won't be impacted.

Let's pretend for a minute that the judge sides with the union and states no benefits are to be cut.

Given all we know/have today, please provide the funding source for the current and future pensions.

We're either part of the problem or we're part of the solution.

I believe the point is ANY cut to pensions will seriously impact folks who worked 20-30 years with the PROMISE they had a pension and that the city would not TAKE money from the pension and try to weasel out of paying it back!


SOURCE of FUTURE FUNDING___ FULL TAXATION of ALL BUSINESS and CORPORATIONS in te city limits---ZERO TAX ABATEMENTS---

Business is either part of te city or they are not...

If a city retireee is getting $19,000 and it is cut even 50%, how the hell does one live on $8,000 a year !!

[belleislerunner]

Full taxation of all business and corporations in the city limits? Zero tab abatements? Most business decisions are significantly evaulated for tax consequences.

Businessess are like church. They are not a "building". They are people who work under a given name. Those people will just up and move to the suburbs taking their "business and corporations" with them.

Publicly traded businesses aren't sustained/built on emotions. They're built on dollars.

So you now have 50% less business/corporations to provide money.

Where will the money come for the $19,000?

[tkdyo]

Originally Posted by Zippyman

The only thing worse than a society of socialist-leaning employees, is a society of capitalist-leaning employees, putting their own interests ahead of their employers..

Agreed with everything except for this. I see nothing wrong with putting your needs ahead of your employers in the current environment. Or are you only saying this to emphasize how employers need to change their ways?

[zthatzmanz28]

Originally Posted by belleislerunner

Full taxation of all business and corporations in the city limits? Zero tab abatements? Most business decisions are significantly evaulated for tax consequences.

Businessess are like church. They are not a "building". They are people who work under a given name. Those people will just up and move to the suburbs taking their "business and corporations" with them.

Publicly traded businesses aren't sustained/built on emotions. They're built on dollars.

So you now have 50% less business/corporations to provide money.

Where will the money come for the $19,000?

Dollars that ought to be TAXED just like any dollar is taxed. When a business is only paying .25 cents on every dollar of profit and the CEO is being paid MILLIONS (most of which used to be TAX) what good is teh business?