“Gov. Jerry Brown has a dirty little secret. He is trying to sell his tax hike to voters this November by saying it will go to schools.
In actuality, the new revenues are to backfill the insolvent teachers’ pension fund.
A report presented to the board of the California State Teachers Retirement System this month indicated that pension contributions would have to increase by 68 percent to pay down its $65 billion unfunded liability over the next 30 years. If investment returns are lower than projected, school districts could be on the hook for an additional $3.5 billion to $10 billion annually over the next 30 years.
The leadership in Sacramento doesn’t want to upset the public unions and are in no rush to act since they’re counting on Mr. Brown’s tax to save the day.”
Here is the Brown Chicago Two Step Dance: First you take $9 billion a year from businesses and families. Then you give it to the schools for “education”. Then “education takes the money to PARTIALLY pay for the pensions they agreed to in sweetheart deals with unions.
Not a cent is spent on children or education—this is a union grab. They think we are stupid and suckers—just say “education” and we will bankrupt ourselves.
BLOG: Jerry Brown’s tax bait-and-switch
Written by Gordon M. Webster, Business Journal, 5/3/12
Gov. Jerry Brown has a dirty little secret. He is trying to sell his tax hike to voters this November by saying it will go to schools.
In actuality, the new revenues are to backfill the insolvent teachers’ pension fund.
A report presented to the board of the California State Teachers Retirement System this month indicated that pension contributions would have to increase by 68 percent to pay down its $65 billion unfunded liability over the next 30 years. If investment returns are lower than projected, school districts could be on the hook for an additional $3.5 billion to $10 billion annually over the next 30 years.
The leadership in Sacramento doesn’t want to upset the public unions and are in no rush to act since they’re counting on Mr. Brown’s tax to save the day. This fall, the governor is promoting a ballot initiative to soak millionaires i.e. (anyone earning more than $250,000 a year) to raise between $6 billion to $9 billion annually.
We all know those new revenues won’t help reinstate arts education, sports programs or bus service.
Instead, schools will have to use the money to cover their pension bills, or to pay teachers more to offset the higher contributions that teachers may be asked to make to their retirements.
The tax hike won’t improve schools or even educational-related services — it will merely postp
“I am Governor Jerry Brown
My aura smiles
And never frowns
Soon I will be president…
Carter Power will soon go away
I will be Fuhrer one day
I will command all of you
Your kids will meditate in school
Your kids will meditate in school!
[Chorus:]
California Uber Alles
California Uber Alles
Uber Alles California
Uber Alles California
Zen fascists will control you
100% natural
You will jog for the master race
And always wear the happy face
Close your eyes, can’t happen here
Big Bro’ on white horse is near
The hippies won’t come back you say
Mellow out or you will pay
Mellow out or you will pay!
[Chorus]
Now it is 1984
Knock-knock at your front door
It’s the suede/denim secret police
They have come for your uncool niece
Come quietly to the camp
You’d look nice as a drawstring lamp
Don’t you worry, it’s only a shower
For your clothes here’s a pretty flower.
DIE on organic poison gas
Serpent’s egg’s already hatched
You will croak, you little clown
When you mess with President Brown
When you mess with President Brown
[Chorus]
“
May 11, 2012 at 4:51 pm
The government, like everyone else, needs to be responsible for its debts. One of its debts is to the grossly underpaid teachers it employed. Yes, the funds are going to education. And I want the public education system to be able to hire teachers in the future. So the government should pay those pensions…just like social security.
May 6, 2012 at 10:14 am
Grace, your generosity to teachers is good. But you might compare teachers salaries – even brand new, inexperienced teachers – with other salaries available to graduates with B.A. degrees. It is not at all a bad deal to get a solid wage for 8-9 total months of work.
May 6, 2012 at 5:45 pm