Best & Worst States To Be A Taxpayer

[MikeG22]

Originally Posted by BlueStreak

Okay, I see. Sorry for the misunderstanding. When I see catch phrases typically used by individuals who simply attack anything connected to the government as Zozialism, it raises my ire. Nothing personal intended, I apologize that I came across that way.

Dave

I didn't take it personally and I see the way you interpreted I'd take offense to that as well. Things like my pension are the reason I work here and not private sector. I'd make more now money in the private sector but the future wouldn't be as good. The NY fund is strong unlike many other states, unfortunately it was also very filled with corruption in the last decade.

[merrylander]

Originally Posted by MikeG22

No Dave, some people need to work and not spend all day on PC. Trust me your the last person who will leave me speechless. Pensions, social security, are not ponzi schemes? Hit a nerve or something? Of course they are! You just interpret that as a negative thing, it is how it needs to be.

I paid into the fund for the current retirees which I gladly did for the fact in the future it will benefit me the same. What I fear is what happens when you keep screwing over the current contributors at some point the fund will no longer be funded. Doing things like making contribution caps which NY has done will encourage new hires to deny the system and invest on a conventional retirement plan since the pension is not as valuable. The system will fail if there are no contributions.

Maybe that's the way yours works, mine from Bell Canada is based on actuarial data and is fully funded. I did much as you did, took less money than I might have gotten elsewhere but knew that they would stand behind their defined benefit pension - they have for 30 years now.

[noonereal]

Originally Posted by djv8ga

Where does your state rank? - http://wallethub.com/edu/best-worst-...taxpayer/2416/

Meaningless numbers without taking into account other relative costs.

[MikeG22]

Originally Posted by merrylander

Maybe that's the way yours works, mine from Bell Canada is based on actuarial data and is fully funded. I did much as you did, took less money than I might have gotten elsewhere but knew that they would stand behind their defined benefit pension - they have for 30 years now.

That's the way to do it, live long and prosper.

The pension was fully funded for several years, even had a surplus many years when market conditions were better. The market collapse hurt bad but it will recover. They just need to keep corrupt wall street scum out of the fund's management.

[piece-itpete]

Someone close to me is on Ohios' state pension, very well funded, run by employees. They told him they have a staff of lawyers to keep the politicians hands off it.

Pete

[Boreas]

Originally Posted by merrylander

Maybe that's the way yours works, mine from Bell Canada is based on actuarial data and is fully funded. I did much as you did, took less money than I might have gotten elsewhere but knew that they would stand behind their defined benefit pension - they have for 30 years now.

The USPS is required to endow its pension fund 75 years out. So, postal workers not yet born are fully vested. Ponzi?

John

[Pio1980]

The tricky part with any pension scheme is sustainability, it cannot be based on an expanding population, rising economic cdx, or other self limiting factors.

[Ike Bana]

Originally Posted by 4-2-7

Ya but my opinion is still mine.

And...opinions are like assholes. Pretty much everybody's got one.

"Nothing exists except atoms and empty space, everything else is opinion." - Democritus.

[icenine]

Originally Posted by BlueStreak

When I hear people bitch about high wages here and pension benefits there, I let them say their piece.........

.......then I ask them; "Really? So, where do I apply?"

Most of these fools know damn well if they saw a hiring sign outside the business that pays strong salaries and great benefits, especially if it offers a lifetime pension, they'd apply in a heart-beat. They're lying if they tell you they wouldn't. They're full of shit, Robbin, they just don't want each other to know it.

Dave

Yes
I understand the anger among citizens who are not receiving pensions yet funding state or federal retirement plans themselves. Being on the good end of the stick I just lay low and pay the high taxes here in Cali. It is the least I can do.

[Dondilion]

Originally Posted by Boreas

The USPS is required to endow its pension fund 75 years out. So, postal workers not yet born have are fully vested. Ponzi?

John

Serious question!