gmallast Wrote:
Nov 20, 2012 8:01 AM
One thing that usually gets lost in the debate over public union benefit packages for both current "workers" and retirees is that, while, as a general rule, private pension plans, 401Ks, etc. are financed out of the returns on productive investments, most public plans are financed out of current revenue. Up here in Macomb County Michigan, a few year ago with multiple home foreclosures on every block, the County Board increased property taxes to keep up funding for the luxury retirement plans of county bigwigs. Hey, you must be willing to sacrifice for the common good. Why should some big shot have to give up retiring at 55 on a pension income far greater than you make working just so you can selfishly keep your home or business?