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Bill Gates Says State Pensions Draining Education Money

I

Infohawk

Lifer
http://news.yahoo.com/s/yblog_thelo...-says-state-pensions-draining-education-money

Education reform champion Bill Gates is giving a speech today urging states to get pension fund and health care costs under control so as not to drain public money away from education.

...

The talk is obviously unnerving the country's largest teachers union, which often butts heads with reformers over issues like seniority, merit pay, and charter schools. "People within public services know they are not going to make a high salary but they know that you have some semblance of retirement security," National Education Association President Dennis Van Roekel told the Journal.
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I completely agree. It doesn't make any sense to "invest" in senior citizens and retired people. It does make sense to invest in the young people and their education since it will hopefully generate higher tax revenues. Extreme measures have to taken to reduce the liability to pensioners.
 
There was an article I posted about a year ago from barons that showed some cities can't even afford cops or teachers due to pensions obligations of 75-90%. Imagine that. for no services consuming 75-90% of tax revenue. Needless to say people GTFO and makes it worse. Basically at every level we are fucked and it's nice to see someone of Gates stature recognizing it. What are we going to do about it is a bit more challenging.
 
As a young American, a guaranteed pension for a job is kind of foreign to me. Most of my retirement plans rely on investment and percentages of savings. Someone who invests in a pension should have to forgo a good amount of current wages to do so. It's their way of making sure they have income in their old years. They shouldn't be able to do it by getting decent wages, most decent benefits and forgetting the rest.
 
Now if we could just get Steve Jobs, the Google Marxists and Mark Zuckerberg on board too most of the nerd/lefties here might see the light and deem it all good.

Obama would fuck the whole thing up though.
 
boomerang said:
Now if we could just get Steve Jobs, the Google Marxists and Mark Zuckerberg on board too most of the nerd/lefties here might see the light and deem it all good.

Obama would fuck the whole thing up though.
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How is it that Bill Gates is the ideal, anti-trust, capitalist and has done more for the people than any other CEO?
 
The funny thing is that the union bosses and senior members couldn't care less about a unions members.

Just look at teachers. Instead of cutting teachers who can't do their job, they get paid to no teach while qualified teachers will less seniority get the axe.

What this country needs is competition in the form of charter schools. Sadly, this is something that the "progressive" and the unions are against.
 
I wish all the luck for politians who try to do something about the big fat entitlement programs of SS, Medicare/Mediaid.

Just look at how tough it is with the Wisc. state thing, can you imagine to do that in a national scale?
 
Patranus said:
The funny thing is that the union bosses and senior members couldn't care less about a unions members.

Just look at teachers. Instead of cutting teachers who can't do their job, they get paid to no teach while qualified teachers will less seniority get the axe.

What this country needs is competition in the form of charter schools. Sadly, this is something that the "progressive" and the unions are against.
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This. It's not about enlightenment or education, it's about increasing budgets and union membership.
 
Infohawk said:
http://news.yahoo.com/s/yblog_thelo...-says-state-pensions-draining-education-money



I completely agree. It doesn't make any sense to "invest" in senior citizens and retired people. It does make sense to invest in the young people and their education since it will hopefully generate higher tax revenues. Extreme measures have to taken to reduce the liability to pensioners.
Click to expand...

you may not be aware of this but today's young people are tomorrow's old people.

You aren't going to create a successful society by treating the weak and the old like some kind of inconvenience.
 
Svnla said:
I wish all the luck for politians who try to do something about the big fat entitlement programs of SS, Medicare/Mediaid.

Just look at how tough it is with the Wisc. state thing, can you imagine to do that in a national scale?
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uhhh, dealing with those issues in Wi went smoothly. The Protests have nothing to do with Pensions/Benefits.
 
If we put food on Americans tables building things instead of Chinese tables we wouldn't have a problem. Instead all that cheap stuff we buy has a price - warehousing people making them tax liabilities instead of tax payers. There aint no such thing as a free lunch we always have to pay. Cheap goods costs social welfare and diminished tax returns. Not to smart to give up our standards unless we want to live like them..
 
Politicians intentionally underfunded public pension systems for decades in order to deliver tax cuts while ignoring the growing liability. Time for folks to pony up and pay the taxes they didn't pay earlier.
 
IronWing said:
Politicians intentionally underfunded public pension systems for decades in order to deliver tax cuts while ignoring the growing liability. Time for folks to pony up and pay the taxes they didn't pay earlier.
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What the politicians have also done is disguise the real cost of government. They've understated it by shoving a large part of the cost into these unfunded liabilities. Out of sight, out of mind.

They've also managed to hand themselves very large and generous benefits in a manner that's mostly hidden. If you had to purchase that kind of retirement benefit by buying an annuity, the cost would be astronomical. Welp, that's pretty much what they're getting (in some cases they actually do just purchase an annuity).

Then there's +$20k annual health care plans.

How about instead of taxing the h3ll out of everybody these people act a little less greedy?

Fern
 
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IronWing said:
Politicians intentionally underfunded public pension systems for decades in order to deliver tax cuts while ignoring the growing liability. Time for folks to pony up and pay the taxes they didn't pay earlier.
Click to expand...


Nah, you don't have to pay them. Here in Virginia the state just with held pensions for retired state employees for twenty years. They dragged it through the courts and the state offered to settle with them individually out of court for half of what they were owed. By the time the case was settled a lot of them were already dead.

Problem solved! And we didn't even really need the money!
 
Svnla said:
Uhhhh, shake up the status quo/changes (for better or worse is still debatable) = not smoothly, not by a long shot.
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Yes, smoothly. The concession was made, already, and without fuss. What you're seeing now has nothing to do with it.
 
Tom said:
you may not be aware of this but today's young people are tomorrow's old people.
Click to expand...
Just because people don't agree with you doesn't mean they're not aware of obvious facts.

You aren't going to create a successful society by treating the weak and the old like some kind of inconvenience.
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We're not talking about inconvenience at this point. It's beyond that if you haven't been paying attention to the news.

The point is that we are now providing older people with luxuries at the expense of investing in the young. This thread is not about social security benefits, which arguably provide basic living needs for the retired. This thread is about pensions that most private workers know are way out of line with what the private sector gives.
 
sandorski said:
Yes, smoothly. The concession was made, already, and without fuss. What you're seeing now has nothing to do with it.
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Correct, the unions completely rolled over on the concessions.


Walker over reached like a Koch-head on a funding binge; decided he wanted more carnage, started shooting the wounded.







.
 
IronWing said:
Politicians intentionally underfunded public pension systems for decades in order to deliver tax cuts while ignoring the growing liability. Time for folks to pony up and pay the taxes they didn't pay earlier.
Click to expand...


Who are these folks that you expect to pony up and pay, the millions on unemployment but still own homes and have to pay property taxes which directly fund most local government like schools, the families that have jobs and are barely scraping by, or perhaps the rich who somehow everyone thinks should pay more yet end up paying less because of their influence with the politicians who write the laws full of loopholes that they exploit.

No, the reason this country is where it is today is because of the everyone for themselves attitude not looking at the long term consequences of their decisions,

the profit for me first the hell with everyone else mentality.


For the love of money is the root of all evil.
 
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