States' Fiscal Condition

[Zaphod]

CM wrote:

Crixus wrote:

Disgusting. Utterly disgusting when you peruse these salaries.

Click to expand…

That was eye-opening.

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State salaries and mostly benefits are ridiculous. Had you a sound mind as a young adult (obvious oxymoron) you would see how much more wealth could be had by going into some form of public service. Cops/fireman at the entry level make an easy six figures (you can see everyones salary in California online) in what is purported to be a low paying county, with higher ups doing better than the average doctor and seniors better than most specialists. Its a bit nutty when you then figure in pensions etc.

IMO pensions are highly unreasonable and need to be addressed on a contribution, crediting and rules for withdrawal etc...as it stands now people are abusing the rules in every way that is obvious because they are set up to have it happen. Low pay in, easy to game, etc...

I first looked into salaries of public servants due to always hearing that cops are paid so terribly (wholly untrue) and when I first went house hunting seeing so many cruisers in higher end neighborhoods but turned out they could afford it.

[notadoc]

Rich people move to Florida.

They move from California and many others.

 

How money walks

http://www.howmoneywalks.com/irs-tax-migration/

 

[Zaphod]

Crixus wrote:

Zaphod wrote:

CM wrote:

Crixus wrote:

Disgusting. Utterly disgusting when you peruse these salaries.

Click to expand…

That was eye-opening.

Click to expand…

State salaries and mostly benefits are ridiculous. Had you a sound mind as a young adult (obvious oxymoron) you would see how much more wealth could be had by going into some form of public service. Cops/fireman at the entry level make an easy six figures (you can see everyones salary in California online) in what is purported to be a low paying county, with higher ups doing better than the average doctor and seniors better than most specialists. Its a bit nutty when you then figure in pensions etc.

IMO pensions are highly unreasonable and need to be addressed on a contribution, crediting and rules for withdrawal etc…as it stands now people are abusing the rules in every way that is obvious because they are set up to have it happen. Low pay in, easy to game, etc…

I first looked into salaries of public servants due to always hearing that cops are paid so terribly (wholly untrue) and when I first went house hunting seeing so many cruisers in higher end neighborhoods but turned out they could afford it.

Click to expand…

We are the U.S.S.A. Just for shits and giggles try to apply for a public job. You practically have to be a “party” member to be considered. You already have to be within the government to be considered for a non entry level job.

We are already past escape velocity regarding this problem. There’s no way the math works when you look at the unfunded liabilities coming at us. Even if we reached 4% REAL growth for a decade w/o a recession we aren’t going to make it. Eric Janzen of iTulip touted 2012 as our last chance to grow our way out. It didn’t happen.

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Obviously thats true. Nothing at current idealizations and dreams can actually work. CalPers is currently fighting with the government to decrease their projected rate of return much faster than previously agreed upon to reflect reality, but for some reason if they do this it increases the unfunded liabilities on the books and makes everything terrible. Of course to me, that everyone knows theyre using a fake number and are simply doing so for book cooking purposes (seriously!) I think, well why dont we stop pretending, but whatever, I am not in charge.

They need to dramatically increase contributions and then do what they can in decreasing benefit payouts to be more in line with private and reality. Also need to shore up those accelerated benefits, etc....