The collapse of government is coming at the Federal, State and Local level, the vast majority of which is promises made to employees long ago, by politicians now dead, for benefits to paid by us and our children. As a Federal employee with over 20 years service, my own benefits are worth anywhere from 1 to 2 million dollars, depending upon how long I live and other variables. I'm sensitive to what will happen to what I was promised by now dead politicians. However, I am coming to believe that public pensions - defined as promising employees a defined portion of the productivity of future workers - is a violation of the principle our government is to guarantee - life, liberty and the pursuit of happiness. Taxing my children to pay for my own and other govt employee benefits is a violation of their liberty.
Public servants should receive pay and benefits today, and the option for tax protected savings for the future like other citizens, and then have to sink or swim like the rest of the citizenry. Public service should not confer a no risk stream of money which is guaranteed by the power of the government to extract money from the citizenry at gunpoint.
"According to the schools' proposed FY2011 budget, employee benefits costs are increasing by $98M, of which $71M is for pensions and another $15M is for retiree medical benefits."
http://reason.com/blog/2010/02/21/even-more-on-the-coming-war-ov/print
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