[quote]Tex Ag wrote:
[quote]MaximusB wrote:
Sento,
I hear you man, but WI has a $3 BILLION deficit, and you want to yell about $140 million? I agree that if that money is in fact spent on some bullshit, then it should be addressed. But you are talking ridiculously unfunded pension liabilities, they would still be paying LESS THAN HALF what the private sector pays. The average government worker makes $89k/year (which includes pension, benefits, etc.) Average private sector worker makes $61k/year. The pension/benefit package for gov’t workers is nearly 3 times better than that of the private sector and pay a shit ton less into it. And consider this, who pays for these pension/bennies? Taxpayers. And it is a wonder why this shit would go under so quickly.[/quote]
I do not disagree that there needs to be some movement when it comes to pensions and people’s expectations. (That said, I think upping the retirement age up is a no brainer yet look at the political tracking that it getting.)
I am not going to argue your numbers, those what I have seen have been when compared at the job level (so job in govt verse same job in private) the govt job paid less with better benefits but worked out about the same as in private sector in overall cost. Those studies were site specific. Looking at it on the macro level might be misleading in come cases, though probably not all.
If you could clarify for me something, when you said that the ave govt worker makes $89k, do you mean take home, or rather, costs $89k once the cost of pension, insurance, etc. when included? If cost, then the $89k is closer to about $40k take home salary.
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Public vs. private total earnings are fairly close when like jobs are compared. Part of the difference is that far more public job require profession credentials for the most part then do median private secctor jobs.
Despite the justifiable anger at certain compensation in certain places, such as the city manager who made 800k, median public salaries just aren’t as high as people claim.
Another point to be made is that only 36% or so of public workers are unionized.
Also to a large degree, much of the underfunding was caused by states choosing to skip their yearly funding contributions for years. Of course the money that was supposed to be funded was spent on some other project and the pension liability was pushed off for another day.
I’m no big fan of unions and watched them make the US steel industry uncompetetive but I’m not going to blame them for stuff they didn’t do either.