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Old 04-02-2011, 03:44 PM
 
887 posts, read 533,357 times
Reputation: 388
So I guess you are saying that you are counting on the Feds to bail us out. Good plan.- Never said that.
Another big problem is giving pensions to people in their 40s.- that does not happen with teachers and other public workers which is what I was discussing. Those pensions are funded by the State. The funding of police and fire requires a much greater employer contribution- approximately 15% instead of 4%.
Another is state workers padding the last few years of their employment with massive overtime, Overtime does not count in the salary used for pension calculations
It needs to be scrapped and replaced with 401Ks. Fine scrap it but you do realize the cost of a 401k with a 50% match is more than the pension cost if you pay it every year.
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Old 04-03-2011, 04:41 PM
 
Location: New Jersey
991 posts, read 1,737,337 times
Reputation: 713
Default Tired of the 'productive class' getting screwed?

Quote:
Originally Posted by bababua View Post
Honestly as jades as I am I dont think your statement is true. What I will say is that a lot of them are and the whole Dem vs Reb is just a ploy to distract all of us.
What irks me is the thought that Christie is different. He falls right in line when its one of his boys. Big tough guy when its easy but when the going gets tough he is silent wind bag. Go ahead and bash me if you want but its the truth. I am with the guy on a lot of things but the notion that he is different is just plain dumb.
...'the whole Dem vs Reb is just a ploy to distract all of us'... AGREED!

Editorial follow-up not to be missed: Joe D: Austerity for others, but a feast for him. Get a good look at that picture of 'political enemies.' Yeah... right!

All the politicos are bedding down together while taking the 'productive class' to the cleaners. Movie release in 12 days - Atlas Shrugged. Don't miss it!
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Old 04-03-2011, 07:22 PM
 
1,837 posts, read 1,764,643 times
Reputation: 810
Quote:
Originally Posted by MaverickDD View Post
...'the whole Dem vs Reb is just a ploy to distract all of us'... AGREED!

Editorial follow-up not to be missed: Joe D: Austerity for others, but a feast for him. Get a good look at that picture of 'political enemies.' Yeah... right!

All the politicos are bedding down together while taking the 'productive class' to the cleaners. Movie release in 12 days - Atlas Shrugged. Don't miss it!

I am actually buying into the divide and conquer stuff. Let me just say I know some reform is needed but the best our politicians can do is blame the little guy? Come on! Million Dollar homes are up in price year over year while everyone else is getting blasted. Things just dont add up.
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Old 04-03-2011, 07:40 PM
 
Location: Northern NJ/Amagansett, NY
4,075 posts, read 4,622,465 times
Reputation: 2831
Quote:
Originally Posted by bababua View Post
I am actually buying into the divide and conquer stuff. Let me just say I know some reform is needed but the best our politicians can do is blame the little guy? Come on! Million Dollar homes are up in price year over year while everyone else is getting blasted. Things just dont add up.
I'm not sure where you are seeing these houses, but around here, million dollar house prices have declined just as much as lower priced homes, on a percentage basis. That is one pain that is equally distributed.
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Old 04-04-2011, 06:54 PM
 
Location: Montgomery County, PA
2,771 posts, read 3,685,968 times
Reputation: 594
Quote:
Originally Posted by tom1944 View Post
So I guess you are saying that you are counting on the Feds to bail us out. Good plan.- Never said that.
Another big problem is giving pensions to people in their 40s.- that does not happen with teachers and other public workers which is what I was discussing. Those pensions are funded by the State. The funding of police and fire requires a much greater employer contribution- approximately 15% instead of 4%.
Another is state workers padding the last few years of their employment with massive overtime, Overtime does not count in the salary used for pension calculations
It needs to be scrapped and replaced with 401Ks. Fine scrap it but you do realize the cost of a 401k with a 50% match is more than the pension cost if you pay it every year.
The advantage of 401ks, for the tax payer, is that the taxpayer knows how much it costs up front. It makes it harder for politicians to use fraudulent accounting practices to conveniently shift costs far enough into the future that they won't be held accountable for the pain inflicted on the tax payer.

It does appear to cost more if you can't make fraudulent assumptions about projected returns but in the long term it's a much more transparent approach.

Alternatively, if they reformed pension accounting that would also address the problem but I just don't see that happening, because it would expose how badly underfunded defined benefit plans are.
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Old 04-04-2011, 07:07 PM
 
Location: Montgomery County, PA
2,771 posts, read 3,685,968 times
Reputation: 594
Quote:
Originally Posted by AnesthesiaMD View Post
If the world decides to abandon the US Dollar standard (which is becoming very likely), the entire U.S.A. could be in default of it's debts,
Few sovereigns enjoy the luxury of issuing debt in their own currency. A default is very unlikely but the bond markets will punish the treasury if it tries to take on too much debt -- that is, future treasury auctions won't go well unless the feds are able to maintain some credibility on spending.
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Old 04-04-2011, 09:18 PM
 
1,837 posts, read 1,764,643 times
Reputation: 810
Quote:
Originally Posted by AnesthesiaMD View Post
I'm not sure where you are seeing these houses, but around here, million dollar house prices have declined just as much as lower priced homes, on a percentage basis. That is one pain that is equally distributed.

While I agree everyone has taken a hit, the rich are buying things up. Besides housing luxury items are selling like hot cakes. If you would like I can find you that link as well.

Million Dollar Home Sales Rises Nearly 20% | Platinum Realty | Austin Texas
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Old 04-05-2011, 06:31 PM
 
4,711 posts, read 2,649,160 times
Reputation: 4357
Quote:
Originally Posted by bababua View Post
While I agree everyone has taken a hit, the rich are buying things up. Besides housing luxury items are selling like hot cakes. If you would like I can find you that link as well.
That's a good thing!
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Old 04-05-2011, 07:48 PM
 
1,837 posts, read 1,764,643 times
Reputation: 810
Quote:
Originally Posted by Sawdustmaker View Post
That's a good thing!
The fact the the rich are richer then ever and the poor are poorer then ever is a good thing? Good one.
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Old 04-05-2011, 08:45 PM
 
4,711 posts, read 2,649,160 times
Reputation: 4357
Quote:
Originally Posted by bababua View Post
The fact the the rich are richer then ever and the poor are poorer then ever is a good thing? Good one.
Who is buying "stuff" and stimulating the market....in the link YOU provided? Why weren't the "rich" buying those properties when said properties were a few-hundred grand or a few million more expensive? Because the market was inflated? The properties weren't worth it?

Why compare the middle-class to the super-rich? You can't. Folks can be envious of them all they want, and it doesn't matter if their money was trusted to them or if they earned it themselves....time to get OVER it. You're never going to find a way to make them hand over all their money and live as "poor" as the next "poor" person - although that seems to be the only way to make some happy.

You make your choices in life. If it's to have more kids than you can afford and work a blue-collar job where you could get laid off at any time- that's your problem. If it's to go to college and then on to medical school or grad school and work 18 hours a day and bring home a more than decent paycheck and be able to afford a million dollar lifestyle - what's the problem?

It's all about choices.

Bend over and pick up the gold the streets are paved with...or ride the back of someone who does and whine and moan that the person you're riding on makes more than you?


What kind of common sense is that?

Disclaimer: the word "you" is meant in general, not specific.

Last edited by Sawdustmaker; 04-05-2011 at 09:07 PM..
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