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The Wisconsin Lie Exposed – Taxpayers Actually Contribute Nothing To Public Employee Pensions – Rick Ungar – The Policy Page – Forbes.

If the Wisconsin governor and state legislature were to be honest, they would correctly frame this issue. They are not, in fact, asking state employees to make a larger contribution to their pension and benefits programs as that would not be possible- the employees are already paying 100% of the contributions.

How can this be possible?

Simple. The pension plan is the direct result of deferred compensation- money that employees would have been paid as cash salary but choose, instead, to have placed in the state operated pension fund where the money can be professionally invested (at a lower cost of management) for the future. (etc. – really worth reading all of it.)

http://blogs.forbes.com/rickungar/2011/02/25/the-wisconsin-lie-exposed-taxpayers-actually-contribute-nothing-to-public-employee-pensions/

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Amazing. Absolutely Amazing.

I am so thoroughly amazed and stunned that somebody finally said something about this – accurately, honestly and clearly.

Yes, absolutely amazing.

– cricketdiane

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