Good God I hope this person knows how to pay for CA’s $200B+ and SF’s $5.7B in unfunded pension liabilities. Bay Area represents ~40% of all personal income tax paid in the state of California.https://twitter.com/markranneberger/status/959898551907115008 …
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Replying to @kimmaicutler
There's an easy way: rein in CA's runaway spending
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Replying to @pmohme
can't legally do that under the way that the court system interprets pension law. http://civilgrandjury.sfgov.org/2016_2017/2016_17_CGJ_Final_Report_The_SF_Retirement_System.pdf …pic.twitter.com/d1JlBCpPCJ
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Replying to @kimmaicutler
The state of CA spends $183 billion annually, so there's plenty of $.
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Replying to @pmohme
we're the sixth largest economy in the world, so one would expect us to have a large budget. https://en.wikipedia.org/wiki/List_of_countries_by_government_budget …
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Replying to @kimmaicutler
Great non-response. There's plenty of $ available, yet the narrative always seems to be "if we just had more"
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Replying to @pmohme
Kim-Mai Cutler Retweeted Richard Rubin
Kim-Mai Cutler added,
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Replying to @kimmaicutler
"Other countries have higher taxes so that makes it ok." Even better when it comes from a former GS CEO who moved on to Washington to help implement tax increases after making his billion.
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I personally like more comprehensive education, health systems that European countries have. Just saying. But I also recognize the need for accountability. Right now, we have a situation where back spending on retirements (which we can't change) is cannibalizing the future...
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Replying to @kimmaicutler
Agree that education & health care need to be done better...but think that begins with accountability, which is all but absent in each. The pension problem will eventually end up before the U.S. Supreme Court. It has to...
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Replying to @pmohme @kimmaicutler
...if the biggest pension of them all, Social Security, can be altered out of necessity then state public employee programs can
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End of conversation
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