OK, pay 100% of the pensions up to $40,000 per year and limit the haircut to pension amounts above $40,000 per year. That would be a fairer way to deal with the hardships. My point is to question the unions’ objectives. Eventually there will be a solution to this underfunding problem … probably bankruptcy. Every dollar that goes toward the pension underfunding is a dollar that doesn’t go to classrooms and active teachers. The unions and students are letting themselves be used to fight the retirees’ fight. If the unions and students win what they claim to want, the result will be MORE money into unsustainable pensions + retiree health care and less money into teachers’ salaries and classrooms. The unions will say, of course, that there’s plenty of money for everything we want — just raise taxes on the wealthy. Certainly infinite money could produce that result. However, there is not infinite money so now there is a 5-way or 6-way fight for available money: taxpayers, legislators (who supposedly represent the taxpayers who are voters), students, active teachers, retired teachers, highways, water pipelines, — you get the idea. We can look for people to blame for the mess, but we can’t collect money from those people. So clever people like teachers, retired teachers, union officials etc. should work toward a way to clean up the mess rather than fight about who made the mess.
– Dear Anon,
Have you read a newspaper lately? The Illinois Supreme Court ruled that a contract and the rule of law as defined by our constitution means that current retirees shall be paid the pension we earned. This is not a bargaining position. This is the law. Your opinion may be interesting to some, but the unanimous opinions of the members of the ISC is the law and trumps your opinion.
Chicago…next Detroit…you cannot tax a problem away..
-No Free Handouts
Chicago….will follow Detroit!!!
-You cannot tax your way out of this problem
Dear NFH and YCTYWOOTP,
If I were playing a drinking game every time one of you mentioned Detroit I would not be able to sl.nfaowp egjzfdsfpwpq4itr
Get your head out of the sand.
-Two sides to the story
Dear Two sides,
I will as soon as I finish this last drink.