There was once a time when General Motors was not only the leading industrial corporation in America, but it was an authentic automobile company producing cars. Sadly, it is no longer an auto company, but a pension fund that happens to use an auto company as a funding mechanism.
In the same vein, we are seeing California’s municipalities transition between being cities collecting taxes for providing its residents with essential services and infrastructure to merely an entity raising taxes for the purposes of meeting its pension obligations.
How is it that California cities are still using “defined benefit” programs rather than “defined contribution” programs like the 401(k) programs in the private sector?
- How come pension costs are rising far beyond the inflation rate?
- Why are pension tricks like converting overtime into salary for pension purposes still allowed?
- Why do public employee unions seem to dominate California’s political system when they overwhelmingly support a single party and use their unified strength to ensure that the State, its municipalities, and its legal residents are continually disadvantaged by union make-work programs, scheduling issues, inflated costs, quality control problems, and late deliveries?
- How can a corporation that makes a hundred million dollar mess out of an IT project, rebate ten percent of the monies spent and then qualify for additional contracts?
All good questions with few good answers.
In a time of rising taxes, reduced services, perhaps it is time for Californians to set aside their differences and agree on one thing: the progressive socialist democrats and their unions are killing the golden goose. Driving productive individuals and corporations out of California.
Bottom line …
While politicians are spinning tales of increased taxes necessary for maintaining quality police, fire, medical, and core services, repairing, replacing, or building out infrastructure, providing for the needs of the homeless, welcoming illegal aliens, and subsidizing nonsensical “arts” programs – the truth is that most of the tax increase will be consumed by pension fund increases, with little or no improvement in anything. The very same police and fire “heroes” we see feted in the progressive media are the very same ones bilking the pension and medical programs with impunity. You cannot tell me that a janitor – even if you refer to them as environmental engineers – needs $100,000/year as a “living wage.”
We are truly screwed. Both by the progressive socialist democrats and their “go along to get along” RINO (Republican In Name Only” cohorts. The progressive socialists are always talking about a revolution. How about a revolutionary idea: quit rewards those very people who have nearly destroyed our state with their nonsense and throw the bums out of office.
"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius