California Proposition 15 A way to fund lavish state pensions
The truth about Prop 15 and why many cities in California potentially facing bankruptcy.
In this video, California State Senator John Moorlach will discuss the severity of unfunded pension liabilities in California, the consequences of not addressing them, and if it’s possible for California to recover at a time when special interests play a big role in funding elections. Moorlach has some serious problems. First, he is entirely too honest. Second, he is far too sensible. The average California citizen, I have sadly become convinced, is a moron incapable or understanding or appreciating what he is saying.
California Proposition 15
Our government needs to be run like a business. No business, country, state, city, county or town is sustainable if it spends more than it takes in. If it doesn’t make dollars it doesn’t make sense!
SB 400 in 1999 increased pensions by 50% retroactively for California public sector workers. It was sold as never costing the taxpayers a dime. Right. Sure. There was no one present arguing on the taxpayers’ behalf. Well, the chickens came home to roost. But has there been any discussion of repealing SB 400? Of course not. Benefits and taxes go only one way: UP. Question: in California, do the “public servants” work for us? Or do we work for them? I think we all know the answer…
The major reason why we haven’t gotten the latest Covid stimulus is because Pelosi is holding out for a trillion dollars to bail out blue state pension funds. If she gets it and they don’t restructure the pensions, we’ll be bailing out the pensions again in another 20 years. Let them pay for their own pensions.
I understand that a school librarian in San Diego county after 30 years now collects an unbelievably huge CalPers pension. She relocated to a very low cost of living town in North Carolina to avoid California’s taxes. It turns out that these cases of “financial vampirism” are pretty common here in California and that is one of the reasons there is so little money spent on the maintenance of our public infrastructure.
California needs a mass change in government. Completely CLEAN HOUSE! I doubt it will happen though. Most California politicians have their sheep convinced it’s someone else causing all their problems. The human mind is such an easy thing to manipulate especially with all the help from the media outlets.
This is what happens in socialist countries, you eventually run out of other people’s money! Democratic run city’s in USA are all going down this same route!
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