(WOW!) The Wisconsin Lie Exposed – Taxpayers Actually Contribute Nothing To Public Employee Pensions

[kpete]

The Wisconsin Lie Exposed – Taxpayers Actually Contribute Nothing To Public Employee Pensions

section 13 of the Wisconsin Association of State Prosecutors collective bargaining agreement –“For the duration of this Agreement, the Employer will contribute on behalf of the employee five percent (5%) of the employee’s earnings paid by the State.”

The pension plan is the direct result of deferred compensation- money that employees would have been paid as cash salary but choose, instead, to have placed in the state operated pension fund where the money can be professionally invested (at a lower cost of management) for the future.

That is the point. While the governor of Wisconsin is busy trying to shift the blame to the workers in an effort to put an end to collective bargaining, the reality is that it was the state who punted on this – not the employees.

Further, by the state employee unions agreeing to the deal proposed by Walker on their benefits (as they have despite Walker’s refusal to accept it) they are taking on much - and possibly all – of the obligation out of their own pockets.

............

more:
http://blogs.forbes.com/rickungar/2011/02/
http://tax.com/taxcom/taxblog.nsf/Profiles/DavidCayJohnston?OpenDocument
http://tax.com/taxcom/taxblog.nsf/Permalink/UBEN-8EDJYS?OpenDocument
via:
http://www.dailykos.com/story/2011/02/25/949925/-The-Big-LIE

[krispos42]

1. K&R

[emulatorloo]

12. K&R - more fact-free Republican BS

Strange that people still fall for their lies.

[krispos42]

14. It sounds like Social Security writ small

All active workers pay into the pension fund, and withdraw based on years worked once they retire.


Unlike SSA, it's invested in the market, though, so it can generate value above and beyond what the contributions are. It is also subject to financial catastrophe, though.

[DeadEyeDyck]

2. KnR

[Solly Mack]

3. K&R

[Cirque du So-What]

4. K & R

My RW hosebag boss was promulgating this particular lie just yesterday, such is the power of FAUX & WorldNutDaily.

[OHdem10]

5. Divide and Conquer. Always playing one group against another.

Heck, they had people who do not pay taxes, the
working poor(EITC) believing they paid for people
on Welfare. Some still do--not even realizing
Wselfare has been reformed.

This has been the Republican strategy for eons.

It is a pure joke anytime a Republican says they
wish to bring the country together.

They win races by dividing the populace over some
imaginary resentment.

What is amazing no one ever calls them on it.

[drokhole]

8. The rich eat the cake while we fight over the crumbs.

[rfranklin]

6. The Republicans just will not acknowledge facts that disprove their talking points...

Just like they never include FICA in their calculations about what percent of income people are paying to the government. They only focus on income taxes.

[Zoeisright]

7. Fucking lying repukes.

I wish that, just for one day, repukes would be unable to lie, like Jim Carrey in "Liar Liar". Just one day. That's all it would take for them to be discredited forever.

[DCKit]

9. Corporations have gotten away with raiding corporate pension funds for decades now...

it was just a matter of time before that target became too juicy for the corporate politicians to ignore.

It doesn't matter if it's self-funded, deferred compensation, they want a cut for their campaign contributors. It's pay to play, and they won't be funded in their next elections if they can't produce additional ill-gotten gains - passed along in the form of outrageous tax cuts as Walker did in WI.

[SpiralHawk]

10. The Republicon lies & spin are staggeringly stupid

But with Billionaire Boy-Os like the Kochs funding the Republicon Propaganda catapult, Americans continue to be SUCKERED.

[fascisthunter]

11. the Republicans will pay for this

and so will their upper class.

[kpete]

13. Gov. Scott Walker says

.......... he wants state workers covered by collective bargaining agreements to “contribute more” to their pension and health insurance plans. Accepting Gov. Walker’ s assertions as fact, and failing to check, creates the impression that somehow the workers are getting something extra, a gift from taxpayers. They are not.

Out of every dollar that funds Wisconsin’ s pension and health insurance plans for state workers, 100 cents comes from the state workers.

http://www.dailykos.com/story/2011/02/26/949915/-This-Is-A-TestAnd-Im-Betting-You-Dont-Answer-Correctly

[EC]

15. I think the state is trying to get ahold of

the treasury. As I understand it the unions are in charge of the treasuries for health care and pensions. I think Walker is trying to gain control of those. Then they'll raid those funds like they did in other states - say they are broke - and viola!!! no pensions or insurance!!

[gkhouston]

16. K&R. n/t

[cui bono]

17. Plus he cut taxes for corporations which is why he now claims the budget is in trouble.

Everything about this is a lie. Wisconsin's budget was fine until he gave away money to the rich.

My protest sign for today will be:

WALKER: THE
OPPOSITE
ROBIN HOOD

[CLANG]

18. I just emailed the forbes link to my local paper (wi state journal)

I sent it to George Hesselberg, a very good reporter that's been around for years and told him to please verify the facts and then put it into the paper. The people of Wisconsin need to know this!

Thanks, kpete. K&R!

[Quantess]

19. K & R

[City of Mills]

20. This has been said before

And it probably can't be said enough!

Another thing that can't be said enough -

Public employees are taxpayers.