Pensions Are NOT Bankrupting States

Ben Mankiewicz breaks down an excellent piece in McClatchy that explains why public employee pensions are not bankrupting states, despite anti-union rhetoric from the likes of Republican Wisconsin Governor Scott Walker.

On Facebook: http://www.facebook.com/tytnation

On Twitter: http://twitter.com/theyoungturks

TYT Mobile: http://bit.ly/dNKfpf

Subscribe: http://bit.ly/eWuu5i

http://www.theyoungturks.com/membership

Read Ana's blog and subscribe at:
http://www.examiner.com/x-5445-Politics-in-Education-Examiner

Read Cenk's Blog:
http://www.huffingtonpost.com/cenk-uygur

http://www.mcclatchydc.com/2011/03/06/109649/why-employee-pensions-arent-bank...

Category:

News & Politics

Tags:

• wisconsin
• pension
• funds
• money
• public
• employees
• retirement
• collective
• bargaining
• mcclatchy
• news
• myth
• bankrupting
• bankrupt
• spending
• budget
• deficit
• governor
• scott
• walker
• busting
• government
• tyt
• young
• turks
• ben
• mankiewicz
• states
• lies

[xinecallaw]

@Efteling4Ever You do not get the American Anti-tax obsession? There nothing 'to get' you would not believe how many selfish idiots are in the US. Every single day I am amazed at how stupid people are. The anti-tax jackasses are unable to comprehend what taxes pay for that they use DAILY. Our roads, bridges, railroads, mail, water system, ect. Then there are the emergent services that taxes pay for like firemen, police, army, Lifesaving ER Care even if you cant pay.

[Efteling4Ever]

Of course a state pension bankrupts a state if no tax revenue comes in. In my country our pool of pension funds is among the largest sources of money on the planet and my country among the strongest economies on earth. Why? Cause we also have among the highest taxes (based on income) on the planet. And guess what, after all the rich people here have paid taxes, they are still rich. Tax works. See it every day. Totally dont get the American anti-tax obsession.

[Dunkleosteus3691]

@Knightmessenger "Pulling down the wage payer"-- ??? What a famous pile of misleading crap. All of these "pulled down" wage payers are doing their damndest to create Universal Serfdom in the United States. NONE of them has been "pulled down" - the earnings gap has been growing since the 1980s from 20x the national working wage to 400x the average working wage. While: NONE of these people have shown an ounce of honesty or decency to anyone. 

[Dunkleosteus3691]

@kingsalamander123 That's not news. The distinction and "honor" still go to the rightist extremists because they've outdone the Democrats consistently when it comes to propaganda and undercutting everything to do with public services. Obama has apparently sold out to Corporate America too and so have all the other politicians who are dependent on "corporations as persons" donating to their campaigns.

[kingsalamander123]

@Dunkleosteus3691 got news for you bro, the dems are doing much better here in california either.

[kndrice]

@Neosaigo Wisconsin didn't have a deficit problem before the last Democrat governor(Jim Doyle) who spent like a drunken sailor and who instituted combined reporting(double taxing for businesses who had locations in other states). This has nothing to do with tax cuts and everything to do with typical liberal tax and spend policies.

[BlacksAreBeautiful]

In order for these studies to have any real merit, they are going to have to show what is bankrupting these states? Unless that's a lie as well?

[Knightmessenger]

@Neosaigo Isn't the goal fix the deficit before it is a problem?

The middle class have to pay for tax cuts to the rich? Do most middle class people get their income from the government or from a rich boss? How is it coming out of their pocket? Does pulling down the wage payer lift up the wage earner?

Remember government doesn't create any wealth in the first place. If you can find ways to make it function without consuming as much taxpayer money, that leaves more in the economy for jobs.

[Neosaigo]

@Knightmessenger

Wisconsin didn't have a deficit problem before the tax cut to the rich. Union is not even a problem in this case, it is simply Republican agenda at play. Give money to the rich, and then says the middle class have to pay for it.

Remember, the Unions already agreed to a take pay cuts and increased taxes to get the country through the tough time, but Republican went back on their words and try to bust Unions and give tax cuts to the rich as the first thing they did.

[Dunkleosteus3691]

Fear mongering from Republicans: exposed here and in every other area. The public is finally beginning to see through the Republican scam operation.  Exaggerate some "threat" like hell and then pass laws which "seem" to fight the "threat" but really just advance the welfare and wealth of... Republican big shots.

The Republicans are the real America haters: they hate and want to control the entire American population.