[BPt111]

DMV fees going up $72 license might be over $100 and other DMV fees, registration

Sales Tax, Restaurant Tax and DMV fees to increase in proposed state budget plan

[Henry10]

Originally Posted by GeoffD

So death by 1000 paper cuts.

Exactly. Small incremental burdens in due time break the camel's back. Some people just can't grasp that concept. Population shifts in CT confirm that economic policies of the last 2-3 decades have had detrimental effect on CT. CT is losing its middle class fast.

[GeoffD]

Originally Posted by Henry10

So are we supposed to believe that we only have two options -- either "virtually zero safety net" or CT's model of Socialism? There can't be moderation?

In addition, do we have to throw in here excessive pensions to Public Unions, in exchange for Democrat votes?

You can't turn back the clock. Those underfunded pension problems happened decades ago. There are existing labor contracts with the unions. You can correct things moving forwards but the problem is unfunded pension liability for retired workers and for workers who have been in the system for decades. Personally, I would have made the change over the last few years and told the unions that they'd be replaced if they went on strike. It's not like those "essential services" are really essential.

At the macro level, you can't have moderation. You either pick the red state model or the blue state model.

[Henry10]

Originally Posted by GeoffD

You can't turn back the clock. Those underfunded pension problems happened decades ago.

Wrong premise. CT continues to underfund current obligations. IN this thread, I have posted links for this. If you think that CT is funding current obligation, you are very mistaken.

Originally Posted by GeoffD

Personally, I would have made the change over the last few years and told the unions that they'd be replaced if they went on strike. It's not like those "essential services" are really essential.

You are speaking like a responsible adult, but Hartford politicians do not possess such character traits. Or as things are, given the fact that Public Unions are a significant Democrat constituency, no Democrat will be shooting himself in the foot.

Originally Posted by GeoffD

At the macro level, you can't have moderation. You either pick the red state model or the blue state model.

Again, wrong premise. You can definitely have moderation without caring for labels. Several states have shown it. Take Massachusetts for example, although I am not a proponent of MA.

[MrGompers]

Originally Posted by GeoffD

You can't turn back the clock. Those underfunded pension problems happened decades ago. There are existing labor contracts with the unions. You can correct things moving forwards but the problem is unfunded pension liability for retired workers and for workers who have been in the system for decades. Personally, I would have made the change over the last few years and told the unions that they'd be replaced if they went on strike. It's not like those "essential services" are really essential.

At the macro level, you can't have moderation. You either pick the red state model or the blue state model.

The real tragedy of this situation is that pension funds have to be shored up with today's dollars. It would have been a lot cheaper to fund those pensions when they were due.

Just accounting for inflation one dollar in 1990 would be worth 1.87 in 2017.

If we added compounding to the equation it would have a much greater effect.

One dollar compounded annually at 5% for 30 years would equal $4.32 today
This is a very conservative estimate because the real return is probably closer to 8% and would be compounded quarterly.

It appears to me there's no finance or math majors advising the legislature on issues like this.

They really need to set up some type of committees that include industry experts and outsiders to look deeper into issues.

[GeoffD]

Originally Posted by MrGompers

The real tragedy of this situation is that pension funds have to be shored up with today's dollars. It would have been a lot cheaper to fund those pensions when they were due.

Just accounting for inflation one dollar in 1990 would be worth 1.87 in 2017.

If we added compounding to the equation it would have a much greater effect.

One dollar compounded annually at 5% for 30 years would equal $4.32 today
This is a very conservative estimate because the real return is probably closer to 8% and would be compounded quarterly.

It appears to me there's no finance or math majors advising the legislature on issues like this.

They really need to set up some type of committees that include industry experts and outsiders to look deeper into issues.

As I said, you can't turn back the clock. All you can do is fix the problem today. Part of it is killing off public sector pensions completely starting now and shifting to defined contribution like the private sector did in the 1980's. The other part is establishing a schedule to fully fund the existing unfunded pension liability.

If I were emperor, I'd freeze all defined benefit pensions. What you're vested in today is what you get. You're now on a defined contribution plan. You don't like it and go on strike? We replace you. There are thousands of people lined up happy to take your job.

The real problem is the 50% of the budget that funds the safety net. Medicaid/CHIP is almost half of that. Most of the money goes to fund expensive chronic problems that are caused by poor lifestyle decisions and nursing homes for people who didn't save for their retirement. CHIP kid Medicaid is dirt cheap. I'm a death panel guy. I'd ration the costly stuff that is largely behavior-induced. If you eat and couch potato yourself to diabetes and coronary disease, the taxpayers shouldn't be paying big bucks. Ditto all the tobacco and drug/alcohol chronic and expensive problems. That's what the Brit NHS does.

[BPt111]

News12CT

STAMFORD -
Politicians in western Connecticut are getting a crash course today in attracting tech jobs and the millennials that come with them.

Stamford has attracted a number of high-tech jobs, but the rest of the area has really struggled.

Today, Sen. Chris Murphy toured a start-up called Arccos Golf, which makes an app that tracks your golf game.

The senator came to Stamford to find out what Connecticut can do better to attract tech jobs.

"To attract more start-up companies, the state probably could work on the rebranding effort, like when people think of Connecticut today, they think of hedge funds,” says Arccos Golf CEO Sal Sayed.

When GE left Fairfield, they say it's because they couldn't attract tech-savvy millennials to the suburbs.

But at Arccos, most of their employees live in small towns, such as Wilton.

[Mr_250]

Hey,
Did anyone get their $55 check we were promised because CT was doing so well?

[BPt111]

Murphy wants new startups to help fill the void left behind when General Electric left Fairfield last year. The company blamed its departure in part on the reluctance of tech-savvy young people to move to the region.

"Honestly, we haven't had any problems," Sayed says.

Arccos employee Tom Williams moved to Wilton from Washington, D.C. to work for the company.

"I think Connecticut is a pretty amazing place to live," he says.

And successful companies may well attract others, according to Williams.

"If you look around at the places around the country that are thriving tech centers -- there's an anchor company that is bringing in a lot of workers. And then, from that anchor company, you have startups that are offshoots," he says.

Another criticism of Connecticut is that its business taxes are too high, but Arccos says that has not been a factor. The main concern is attracting qualified workers.

[kidyankee764]

Originally Posted by Mr_250

Hey,
Did anyone get their $55 check we were promised because CT was doing so well?

Laughed out loud.