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.

Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (173163)	10/6/2011 3:52:59 PM
From: epicure	Respond to of 543013

There are difficult problems out there- but this one is simple. The pensions were too generous, and they need to be scaled down. Those fire and police and local government folks making 100 - 75% of what they were making when they were working, can forget it. I don't care if they've bought big ass houses because they thought they would rip off the taxpayers forever- they can start rethinking. You fix that, and the problem is fixed. It's so simple, so very simple, that everyone will figure it out. And then- no more problem. Obviously some retired public workers will have some problems adjusting to their new income levels- but really, do I care? No. Will most people care? No. So there you are. Problem solved. What can I solve for you next?

To: stockman_scott who wrote (173163)	10/6/2011 3:59:39 PM
From: JohnM	Read Replies (1) \| Respond to of 543013

Someone else posted the Michael Lewis' piece on California on some thread. Perhaps it wasn't here. As always with Lewis, it's a great read. My problem with his argument is that he doesn't emphasize as much as he should that a great deal of this stems from richer Californians not paying enough taxes. In my own simple minded view of California, I see this all stemming from the cap on property taxes. And, as a result, I think California is New Jersey's future.