Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: marcher who wrote (108820)	2/23/2010 9:17:20 PM
From: ajtj99	17 Recommendations Read Replies (1) \| Respond to of 116555

Public sector health insurance programs are about 40-50% more expensive than the average private sector program. If public sector employees have lost any benefits, it's minimal at best. My own local community is going to ask for a millage increase to make up for a budget deficit. They say it's to fund fire and safety in order to scare the local population into voting for higher taxes. I e-mailed the mayor telling him I'd rather take my own chances with my house burning to the ground than pay a dollar in higher taxes to fund firefighters with a high school education who make more than some college graduates with masters degrees. I would not pay a cent in extra taxes just so some guy can retire at 50 and soak me for his pension and medical benefits for the remainder of his and his spouse's life while the rest of us work until we're 70. If all the firefighters in my community were fired today, replacements could be hired at probably 60% lower compensation. Why should I pay higher taxes when the market rate for firefighters is 60% lower than what my community is paying them? As for police, I think the same applies. All could be fired, and all the jobs could be filled for probably 60% lower compensation. That's why bankruptcy makes sense. That's why it's important to change the laws so public entities must make all retirement compensation currently funded, not pay as you go. That will bring clarity to the system, unions or no unions. Oh, as far as firefighters and police officers putting their lives on the line, check the mortality rates for convenience store clerks and hotel receptionists. It's way up there, and in many cases even higher. There should be no premium for danger for a firefighter or police officer if a convenience store clerk doesn't get one. Soldiers in Afghanistan get paid about 1/3 what police officers make, and they have a much higher mortality rate. The system is broke, and the cities need to be broken to fix it.