why was the Greatest Generation followed by the worst generation?
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CA already has 4th highest state tax burden in the country. Do we really want to be #1?
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I think your options are outlined in that screenshot.
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1990s pension reforms where 3% at 50, 2% at 55, and retroactive. They sweetened the pot assuming astronomical returns forever
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Plus middleman investment cos. taking cut plus admin overhead. These funds underperform a simple low cost
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look at calpers last 2yrs return. It's a joke. Who makes that up? Taxpayers! State will end up putting more in.
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nothing is forever and neither is this prop. also changing tax structures, new fees, politics have warped public views.
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Pension debt is a problem but saying it’s $1 trillion is meaningless. Have to compare PV of debt to PV of future revenue.
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'...saw a majority of voters support levies on narrow groups of taxpayers'
the organizing principle of California tax policypic.twitter.com/0iVJJTja9l
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Wow that article tho. Why socialism doesn't work in a nutshell. Look at all the problems created by underfunded promises
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(Can I like my own tweet? Lol)
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