Cut spending? How ’bout earning more?

Oh those Republicans! They hate taxes even when we’re starved for revenue. They don’t much like caring for ‘the least among us’ or – as modern reality would have it  – the sick, the poor and the elderly. They say they believe in education, but think every eight year old is able to set the course for a successful life – not the taxpayers problem. They love our hi tech future but don’t worry about who’s going to have the education and skills to fill those hi tech jobs. They’re big fans of moving Social Security from a defined benefit and exposing it to the volatile wonders of the ‘market’. Which worked so well for folks who pensions evaporated in ’08-’09.

A local city has for some time been dipping into their diminishing reserves to cover pensions for police and firemen. Now they’re actually considering tax increases. They (tea party favorites) – and the previous city council – refused till now to own the looming problem. Now it’s biting them in the butt.

As property tax revenue has plummeted along with values, the council for four years has not increased the tax rate as many communities have done. Instead it has relied on reserves to plug the hole. Now it does not have that option, especially as officials anticipate another pension shortfall next year.

7 responses to “Cut spending? How ’bout earning more?

  1. Pingback: Cut spending? How ’bout earning more?….Whatever Works… - Politicaldog101.Com

  2. Maybe , just maybe , all of those union campaign contributions that got former city officials elected , who promised more in pay and pensions than the city could ever afford , are to blame .

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    • That’s not the case Alan. The pension funds lost a bunch of money and now the earnings aren’t enough to keep up. This is only police and fire – city staff is small, not unionized and the cost of teachers is shared with county.

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  3. ” The pension funds lost a bunch of money and now the earnings aren’t enough to keep up ”

    But this is the tea party’s fault? Just how much will they have to raise property taxes on the Widows and Orphans to pay the pensions ?

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    • Tea Party’s fault? Not really. More a matter of irony that their candidates are now having to do the very thing they ran against.

      It’ll be a very small tax increase probably – the shortfall is less than $2million. Widows and Orphans? My, how 19th century a concept.

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  4. Former President Bush’s face appears to be on fire here.

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