Quote: (03-26-2013 09:22 PM)worldwidetraveler Wrote:
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Basically you are saying it is ok she is getting 400k a year for life from a bankrupt state because Wallstreet is full of crooks.
No, I agree 400k is an excessive pension.
California is not bankrupt, we recently voted to increase taxes and the budget is about balanced now. California's pension fund
has about 256.1 Billion in thousands of diversified worldwide companies. I've examined the list of investments, it's like 200 pages.
http://www.calpers.ca.gov
Pension grabbers howl how it's not enough, but compared to Social Security which Congress has been looting for decades ( has zero saved up as far as I know) we in California have been the savers regarding our pensions. We not only save for our pensions, but give a lot of money to Red States too.
In fact, we blue states subsidize the "independent, conservative" states to the tune of about 50 Billion a year.
Cuz we're smarter and pay more taxes.
I can see why haters get worked up:
California is the biggest in population, the biggest economy by FAR-- our economy is the 8th largest in THE WORLD ( if CA was a country).
it's 1/8 of the whole economy of the USA. Bankrupt? Employment is easier in some other states right now, true; but the country
would be quite fucked if it lost all this tax income.
http://en.wikipedia.org/wiki/Economy_of_California
It's hilarious how people are so brainwashed they applaud the slime that skim 50 million dollar bonuses off the top of the economy in the misguided hope they will someday be appointed thieves as well. Those million dollar jobs are right around the corner, like in an Arthur Miller play. Just keep plugging along.