California's New Governor Doesn't Touch Pensions in Big Budget Cuts

[Craig234]

Yup as soon as Moonbeam rescinds Prop 13 and doubles my $9,000 a year property tax to $18,000. I'll make sure to mail in my keys to my bank mortgage lender, foreclose, and give a big FU to the California State Government and take the $40,000+ a year we pay in state taxes (excluding sales taxes) to somewhere else.

What's the market value of your home, and what did you pay for it, when?

 

[olds]

Arnie is in good company with that strategy. I believe it the system all pension programs at all levels of government are based on.

I thought California did that IOU thing again two years ago or something. I seem to remember making a joke you should mail the IOUs as tax payment to the government offices.

They can give IOU's to business (vendors).
her209 covered it above.

 

[drebo]

What's the market value of your home, and what did you pay for it, when?

As we saw two and three years ago, market value is easily manipulated and therefore means exactly dick.

Prop 13 is not a necisarily bad thing.

 

[chucky2]

Who cares what the value of the home was, isn't $9k a year super F'ing high already???? How much more possibly would need to be charged to stay within reason?

Unless it's a bonafide mansion, $9k a year is plenty.

Chuck

 

[Infohawk]

SO what do you think is going to happen to your and your childrens generation?

It probably shouldn't be viewed so much as a generational thing (although I did put it in those terms) since most baby boomers are not on government employment pensions.

But what's going to happen to the younger California generations? They're going to have less government services and infrastructure than the older generations. Some people (but not that many) will be poorer as they will be cut off from government-run higher education (25% cut in budgets for CSU/UCs. The baby boomers are going to be live longer and be more unproductive during those years than any generation in the past.

What do you think is going to happen? Nothing? Seems unlikely. Maybe the economy and technology will improve so much that these pensions will be a drop in the bucket but that seems hard to believe.

 

[Patranus]

Heh.

I was talking to my dad who had retired but was because he was an expert in his field he was roped into consulting for the state. He worked for 5 years for the state of California and now received a pension for the rest of his life.

He even said the system was ludicrous but when asked if he would give it up, he replied "hell no".

 

[Red Dawn]

It probably shouldn't be viewed so much as a generational thing (although I did put it in those terms) since most baby boomers are not on government employment pensions.

But what's going to happen to the younger California generations? They're going to have less government services and infrastructure than the older generations. Some people (but not that many) will be poorer as they will be cut off from government-run higher education (25% cut in budgets for CSU/UCs. The baby boomers are going to be live longer and be more unproductive during those years than any generation in the past.

What do you think is going to happen? Nothing? Seems unlikely. Maybe the economy and technology will improve so much that these pensions will be a drop in the bucket but that seems hard to believe.

You guys might have to work harder than you had envision growing up and you probably wont be able to spoil your kids as you were spoiled but they'll actually be better off for it.

 

[Infohawk]

You guys might have to work harder than you had envision growing up and you probably wont be able to spoil your kids as you were spoiled but they'll actually be better off for it.

So basically, "tough shit younger generations." There's a reason the baby boomers are never called the greatest generation.

 

[Red Dawn]

So basically, "tough shit younger generations." There's a reason the baby boomers are never called the greatest generation.

You act as if you have it rough.

 

[olds]

Heh.

I was talking to my dad who had retired but was because he was an expert in his field he was roped into consulting for the state. He worked for 5 years for the state of California and now received a pension for the rest of his life.

He even said the system was ludicrous but when asked if he would give it up, he replied "hell no".

5 Years? $100 a month?

 

[EagleKeeper]

Arnie is in good company with that strategy. I believe it the system all pension programs at all levels of government are based on.

I thought California did that IOU thing again two years ago or something. I seem to remember making a joke you should mail the IOUs as tax payment to the government offices.

They can give IOU's to business (vendors).
her209 covered it above.

But they would not accept the IOUs when it came time to pay taxes on income.

 

[olds]

But they would not accept the IOUs when it came time to pay taxes on income.

I don't know if that was an issue as it didn't apply to me.
But hey, I am sure the state knew they were worth the paper they were printed on.

 

[Infohawk]

You act as if you have it rough.

It's irrelevant whether I personally have it rough or not. Obviously most Americans of any age have it easy compared to people in third world countries. Not really relevant here either.

The real question is whether it makes sense for a society to prioritize its dying and unproductive population when allocating resources.

 

[EagleKeeper]

But they would not accept the IOUs when it came time to pay taxes on income.

I don't know if that was an issue as it didn't apply to me.
But hey, I am sure the state knew they were worth the paper they were printed on.

Recycled TP?