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Old 03-02-2017, 05:09 PM   #26
Noodle Wazlib
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Re: March LC Thread

If you can fly in firefighters from Arkansas every day, I'm sure you can get away with paying them $20k/year
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Old 03-02-2017, 05:26 PM   #27
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Re: March LC Thread

Quote:
Originally Posted by simplicitus View Post
In 2015, five San Jose police officers each made more than $400,000.

A payroll error? In fact, they earned every penny by the book.

Hefty compensation, it turns out — including regular pay, overtime and benefits — is not unusual for public safety employees in California.

“It is routine now for firefighters to be up over $200,000, $300,000,” said Mark Bucher, chief executive officer of the California Policy Center, a public policy think tank. “Look at just about any city and you’ll see the same thing.”

Take, for example, the San Ramon Valley Fire Protection District, which covers a portion of southern Contra Costa County.

More than half of the district’s roughly 150 full-time workers — among them battalion chiefs, captains and firefighter paramedics — earned more than $300,000 in total compensation in 2015, according to data collected by Transparent California, a nonprofit watchdog.
...
Pensions guaranteed to California police and fire personnel allow them to retire in their 50s and draw 70 percent or more of their peak pay as long as they live. Most private sector employees have no pensions.


https://www.nytimes.com/2017/03/02/u...=top-news&_r=0
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Old 03-02-2017, 05:26 PM   #28
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Re: March LC Thread

We need to work the pensions vs 401k angle into this discussion.
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Old 03-02-2017, 05:32 PM   #29
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Re: March LC Thread

401k's are basically a failed scam. (Though many private pensions are also something of a scam.) America's retirement investment, by in large, seems to be based around the idea of housing appreciation. That's fine, but the 35 and under crowd is saddled with education debt and isn't paid particularly well. The American economy is the revenge of the olds (well, a subset of them).
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Old 03-02-2017, 05:36 PM   #30
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Re: March LC Thread

The City of San Francisco has an annual budget roughly equal to the state of Nevada's.

9.6 billion dollars and ~31,000 employees.

Avg employee gets 108k salary and 50k in benefits. Good work if you can get it.

Good luck with that when/if San Francisco ever falls even slightly out of fashion.
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Old 03-02-2017, 05:44 PM   #31
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Re: March LC Thread

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Originally Posted by simplicitus View Post
401k's are basically a failed scam. (Though many private pensions are also something of a scam.) America's retirement investment, by in large, seems to be based around the idea of housing appreciation. That's fine, but the 35 and under crowd is saddled with education debt and isn't paid particularly well. The American economy is the revenge of the olds (well, a subset of them).
Yea this is correct afaik.

I think I read only one-third of Americans had any retirement savings whatsoever.

And you are correct that many Boomers have a large percentage of their net worth tied up in their homes whist Millennial home-ownership rate and income is substantially lower than their parents generation. Which begs the question, who is going to cash the Boomers out?
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Old 03-02-2017, 06:06 PM   #32
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Re: March LC Thread

Quote:
Originally Posted by simplicitus View Post
401k's are basically a failed scam. (Though many private pensions are also something of a scam.) America's retirement investment, by in large, seems to be based around the idea of housing appreciation. That's fine, but the 35 and under crowd is saddled with education debt and isn't paid particularly well. The American economy is the revenge of the olds (well, a subset of them).
The dream is to be able to save nothing and have an adequate retirement. Public pensions are in the best position to do this, since they can just make whatever promises they want and leave the saving part to the federal government or future taxpayers when their pension plans go bust. Private pensions are kind of terrible at it since ERISA makes them save a bunch of money to go with their promises and then they exacerbate the problem by blowing it all on hedge fund fees. 401ks are actually the best at achieving the save-nothing prong of the dream, but obviously suuuper dicey on the adequate retirement side. Hope for a UBI I guess?
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Old 03-02-2017, 06:11 PM   #33
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Re: March LC Thread

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Originally Posted by thenewsavman View Post
The City of San Francisco has an annual budget roughly equal to the state of Nevada's.

9.6 billion dollars and ~31,000 employees.

Avg employee gets 108k salary and 50k in benefits. Good work if you can get it.

Good luck with that when/if San Francisco ever falls even slightly out of fashion.
If and when it does, living expenses should fall precipitously, which won't necessitate such high incomes.
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Old 03-02-2017, 06:18 PM   #34
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Re: March LC Thread

omg, I just found a whole thread of liberals hand waiving away the things learned in the DNC email hack!!! yesss!

omnomnom so delicious.
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Old 03-02-2017, 06:24 PM   #35
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Re: March LC Thread

Quote:
Originally Posted by simplicitus View Post
401k's are basically a failed scam. (Though many private pensions are also something of a scam.) America's retirement investment, by in large, seems to be based around the idea of housing appreciation. That's fine, but the 35 and under crowd is saddled with education debt and isn't paid particularly well. The American economy is the revenge of the olds (well, a subset of them).

How are 401k plans a scam?
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Old 03-02-2017, 06:28 PM   #36
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Re: March LC Thread

Wake up guys, this California thing is fake news. All of those shortfalls can be recovered by killing Betsy DeVos and taking her money.
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Old 03-02-2017, 08:13 PM   #37
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Re: March LC Thread

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Originally Posted by thenewsavman View Post
Yea this is correct afaik.

I think I read only one-third of Americans had any retirement savings whatsoever.

And you are correct that many Boomers have a large percentage of their net worth tied up in their homes whist Millennial home-ownership rate and income is substantially lower than their parents generation. Which begs the question, who is going to cash the Boomers out?
I see this as one of the bigger upcoming disasters for our country, we essentially have a huge chunk of people who are at or near the point where they should be retiring, but they just can't for one reason or another. It is, in my opinion, inevitably going to cause a lot of pain to not just the boomers themselves, but their children as well. And like, the current solution is just social security/medicare, which isn't bad, but it doesn't at all cover living expenses for a significant chunk of people.
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Old 03-02-2017, 09:30 PM   #38
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Re: March LC Thread

Well the good news is Paul Ryan wants to "fix" Social Security and Medicare. So even those minimal safety nets could be gone soon.
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Old 03-02-2017, 09:49 PM   #39
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Re: March LC Thread

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Old 03-02-2017, 09:56 PM   #40
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Re: March LC Thread

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Well the good news is Paul Ryan wants to "fix" Social Security and Medicare. So even those minimal safety nets could be gone soon.
I never understood why so many of you who look forward to olds dying out are so pro SS and Medicare.
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Old 03-02-2017, 10:03 PM   #41
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Re: March LC Thread

Maybe they aren't being literal when they talk about them dying off?
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Old 03-02-2017, 10:55 PM   #42
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Re: March LC Thread

Maybe I think the richest country on earth should take care of it's seniors?
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Old 03-03-2017, 12:34 AM   #43
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Re: March LC Thread

suzzer, that doesn't really address my question, not that I am accusing you of taking the position of looking forward to old people dying off.

stinkubus, perhaps you are right, but there are probably more than a couple people who weren't saying it in jest and who didn't realize the contradiction.

There is some philosophical ideas that should be debated here though about the value of capitol vs labor and the time value of money and how death is the great equalizer.
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Old 03-03-2017, 12:39 AM   #44
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Re: March LC Thread

We owe Beysy Devos an apology. http://www.chicagotribune.com/news/w...302-story.html
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Old 03-03-2017, 12:54 AM   #45
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Re: March LC Thread

Quote:
Originally Posted by einbert View Post
Quote:
Critics have accused Chelgren of trying to impose a political litmus test on new hires for the state's university system.
This is the most disturbing part of the article imo.
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Old 03-03-2017, 12:58 AM   #46
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Re: March LC Thread

Critics call it a litmus test but really it is political affirmative action, though obviously they can't use that term.
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Old 03-03-2017, 01:00 AM   #47
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Re: March LC Thread

Quote:
Originally Posted by thenewsavman View Post
The City of San Francisco has an annual budget roughly equal to the state of Nevada's.

9.6 billion dollars and ~31,000 employees.

Avg employee gets 108k salary and 50k in benefits. Good work if you can get it.

Good luck with that when/if San Francisco ever falls even slightly out of fashion.
$108k in SF is equivalent to what in Nevada?

One bedroom apartment median rental price in SF is $3590. Two bedroom is $4870.
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Old 03-03-2017, 01:01 AM   #48
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Re: March LC Thread

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Originally Posted by amoeba View Post
Critics call it a litmus test but really it is political affirmative action, though obviously they can't use that term.
I'd have gone with something more like "it's really ****ing insane" but they probably couldn't use that term either.
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Old 03-03-2017, 01:02 AM   #49
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Re: March LC Thread

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This is the most disturbing part of the article imo.
That's kind of old news, and it's the only reason why anyone was looking at the guy's credentials.
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Old 03-03-2017, 01:03 AM   #50
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Re: March LC Thread

Of course its a terrible idea. I was just pointing out one of the many routes of attack defenders of that initiative could use.
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