MUST-WATCH VIDEO: Ohio Stands with Wisconsin (28/2/11) PDF Print E-mail
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Monday, 28 February 2011 13:48



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MUST-WATCH VIDEO: Washington Stands In Solidarity with Wisconsin (28/2/11) PDF Print E-mail
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Monday, 28 February 2011 13:47



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MUST-WATCH VIDEO: Wisconsin Rally 100,000 Strong (28/2/11) PDF Print E-mail
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Monday, 28 February 2011 13:45



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MUST-WATCH VIDEO: Wisconsin Police Union Announces Solidarity with Occupation of State House (28/2/11) PDF Print E-mail
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Monday, 28 February 2011 13:43



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The Wisconsin Lie Exposed - Taxpayers Actually Contribute Nothing To Public Employee Pensions - By Rick Ungar (28/2/11) PDF Print E-mail
Rick Ungar   
Monday, 28 February 2011 06:47

Pulitzer Prize winning tax reporter, David Cay Johnston, has written a brilliant piece for tax.com exposing the truth about who really pays for the pension and benefits for public employees in Wisconsin.

Gov. Scott Walker says he wants state workers covered by collective bargaining agreements to "contribute more" to their pension and health insurance plans. Accepting Gov. Walker' s assertions as fact, and failing to check, creates the impression that somehow the workers are getting something extra, a gift from taxpayers. They are not. Out of every dollar that funds Wisconsin' s pension and health insurance plans for state workers, 100 cents comes from the state workers.

How can this be possible?

Simple! The pension plan is the direct result of deferred compensation- money that employees would have been paid as cash salary but choose, instead, to have placed in the state operated pension fund where the money can be professionally invested (at a lower cost of management) for the future.

Many of us are familiar with the concept of deferred compensation from reading about the latest multi-million dollar deal with some professional athlete. As a means of allowing their ball club to have enough money to operate, lowering their own tax obligations and for other benefits, ball players often defer payment of  money they are to be paid to a later date. In the meantime, that money is invested for the ball player's benefit and then paid over at the time and in the manner agreed to in the contract between the parties.



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