spitzer on romney, taxes

[dellinger63]

Originally Posted by jms62

Obviously you do not understand me. I am fine with the amounts of the pensions I just think they should collect it starting at 65 no in their 40's.

OK I didn't understand you and I completely disagree.

Public pensions are contributed to every year by the taxpayer. That money is put into an account and invested by the pension fund manager. Should that pension manager make a bad financial decision and lose money, just like a private citizens 401K, the balance is decreased. However unlike the private citizen public sector pensions are insured by the fact taxpayers (private citizens) will be required to pay for any loses.

Recently my work lead me to review the WorldCom BK case. The number of public pension funds listed as creditors was outstanding. That money is gone forever and it is the mistake of the pension fund manager hired by whatever public union not the taxpayer.

Since the taxpayer also pays the salary of the public worker, putting food in their childrens mouths, clothing them, paying for vacations, healthcare etc. It would be a nice gesture for them to give something back to the taxpayer. Maybe restoring their 401k's etc.