LOL!!! Love reading stories like this.
https://www.msn.com/en-us/money/ret...-—-twice-his-old-salary/ar-BBJp2N2?li=BBnbfcL
https://www.msn.com/en-us/money/ret...-—-twice-his-old-salary/ar-BBJp2N2?li=BBnbfcL
Retired NYC Sanitation Worker paid $285,000 in yearly public pension
- Thread starter Knight_Light
- Start date
83 at retirement, he could have retired 20 years earlier and no one would say shit about his 90k per year plan which would have been more expensive.
On the other hand, corporations take billions upon billions of taxpayers dollars to fund their pensions that they refuse to fund themselves while taking profits.
GE had over $40 Billion in profits over the last two years, while underfunding their employees' pension by $28 Billion. GE also fired their CEO, but he walked out with over $100 Million.
Lockheed Martin, over $11 Billion in profits, underfunding employees by $17 Billion and paying their CEO $50 million.
Boeing earned almost $20 Billion in profit, underfunding their pensions by $16 Billion.
These guys really needed a huge tax cut to be competitive...
GE had over $40 Billion in profits over the last two years, while underfunding their employees' pension by $28 Billion. GE also fired their CEO, but he walked out with over $100 Million.
Lockheed Martin, over $11 Billion in profits, underfunding employees by $17 Billion and paying their CEO $50 million.
Boeing earned almost $20 Billion in profit, underfunding their pensions by $16 Billion.
These guys really needed a huge tax cut to be competitive...
He worked 60 years and was grandfathered in before the post-'73 change. Yes, it's pretty ridiculous, but a contract is a contract. They changed it for people post-'73 for a reason.
In the private sector, those types of deal bankrupted companies, including GM. In the public sector, we just raise taxes to unsustainable levels and give poor results to constituents.
Since it's unfair to both the government employee to change the contract ex-post-facto and it's unfair to the taxpayer, there is only one solution that we Libertarians constantly point out.
Smaller government.
Both stop making an agency for everything (socialism), and stop 'privatizing' things with taxpayer dollars (crony capitalism/monopolies). It's what drives us up-the-wall with both the left and right.
In the private sector, those types of deal bankrupted companies, including GM. In the public sector, we just raise taxes to unsustainable levels and give poor results to constituents.
Since it's unfair to both the government employee to change the contract ex-post-facto and it's unfair to the taxpayer, there is only one solution that we Libertarians constantly point out.
Smaller government.
Both stop making an agency for everything (socialism), and stop 'privatizing' things with taxpayer dollars (crony capitalism/monopolies). It's what drives us up-the-wall with both the left and right.
Let's say he lives 10 years. 2.85 million.
Let's say he retired 20 years ago at 90K pension. 30 years at 90k = 2.7 million.
It's a wash.
Let's say he retired 20 years ago at 90K pension. 30 years at 90k = 2.7 million.
It's a wash.
