I have an idea. Screw the old people and invest in the future
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does cutting spending on educating future tax payers to invest in the stock market help us cover future pension liabilities?
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perhaps it makes sense if we assume those future tax payers we're educating are forced to move out of state to afford homes.
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its much bigger than $241B. They need to change go forward returns to 5% instead of 7
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Are you working on a piece about older Californians devouring their young? Let's rebrand boomers as The Wolf Spider Generation
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Ah, but at least nobody's property taxes will go up
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just about every financial advisor out there is recommending a 5% return over 10 yrs for 401k. Why is CALPERS expecting 7%?
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With the bazillions we're underfunded in pensions & education, Prop 13's "third rail-ness" should be on life support at best
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Is there data on % of CA public employees who's children/grandchildren also utilize public education? CA's just robbing Peter to pay Paul
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Promised payouts too large for contribution rates & returns. Plus pers/strs should just fire all investment people & buy
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