California is gonna

[buckeye45_73]

It goes without saying that all initiatives and proposals and taxes and fees proposed Republicans are terrible if you are a Democrat.

And you will probably oppose initiatives and proposals and taxes and fees proposed by Democrats if you are a Republican.

That is why we have two political parties. Opposing concepts. Opposing ideas. Opposing processes.

But for the life of me, I can't see the rationale for how the when the Republicans have the power in Congress and the Whitehouse, everything bad that happens is all the Republicans fault.

But when the Democrats have the power in Congress and the Whitehouse, everything bad that happens is still all the Republicans fault.

thats basically what this meatball is saying about California........Prop 13 was thought of by a Republican for what seemed a good idea for the Retirees,voted in by the electorate,who are mostly Democrats,and has been kept as law ever since by both parties in this State,including the MOSTLY Democratic citizens here......but the Republicans are the ones responsible for the States ills.....Star is just another die hard Lefty who cant imagine Democrats ever being part of a problem....

So either these democrats are tired of liberal policies are they're too stupid to know what the issues are? Wow liberals really do hold people in contempt.

 

[Harry Dresden]

It goes without saying that all initiatives and proposals and taxes and fees proposed Republicans are terrible if you are a Democrat.

And you will probably oppose initiatives and proposals and taxes and fees proposed by Democrats if you are a Republican.

That is why we have two political parties. Opposing concepts. Opposing ideas. Opposing processes.

But for the life of me, I can't see the rationale for how the when the Republicans have the power in Congress and the Whitehouse, everything bad that happens is all the Republicans fault.

But when the Democrats have the power in Congress and the Whitehouse, everything bad that happens is still all the Republicans fault.

thats basically what this meatball is saying about California........Prop 13 was thought of by a Republican for what seemed a good idea for the Retirees,voted in by the electorate,who are mostly Democrats,and has been kept as law ever since by both parties in this State,including the MOSTLY Democratic citizens here......but the Republicans are the ones responsible for the States ills.....Star is just another die hard Lefty who cant imagine Democrats ever being part of a problem....

So either these democrats are tired of liberal policies are they're too stupid to know what the issues are? Wow liberals really do hold people in contempt.

most of them are like everyone else......they are tired of Sacramento spending more than what they have coming in....and then try to raise taxes to offset that but then just spend the extra money and then still ask for more.....after a while even a Liberal will say.....ENOUGH.....

 

[Foxfyre]

It goes without saying that all initiatives and proposals and taxes and fees proposed Republicans are terrible if you are a Democrat.

And you will probably oppose initiatives and proposals and taxes and fees proposed by Democrats if you are a Republican.

That is why we have two political parties. Opposing concepts. Opposing ideas. Opposing processes.

But for the life of me, I can't see the rationale for how the when the Republicans have the power in Congress and the Whitehouse, everything bad that happens is all the Republicans fault.

But when the Democrats have the power in Congress and the Whitehouse, everything bad that happens is still all the Republicans fault.

thats basically what this meatball is saying about California........Prop 13 was thought of by a Republican for what seemed a good idea for the Retirees,voted in by the electorate,who are mostly Democrats,and has been kept as law ever since by both parties in this State,including the MOSTLY Democratic citizens here......but the Republicans are the ones responsible for the States ills.....Star is just another die hard Lefty who cant imagine Democrats ever being part of a problem....

So either these democrats are tired of liberal policies are they're too stupid to know what the issues are? Wow liberals really do hold people in contempt.

It is my experience that a hardcore leftist is a hardcore leftist and will generally stick to those roots in all aspects of his/her life. But I also think a whole lot of Democrats are not hardcore leftists. In fact if you can get them out of political mode and focused on issue by issue, many, if not most Democrats will be on the right side of the ledger on most.

But the dishonesty in our sociopolitical life continues. From everything from DOMA to the Patriot Act to farm subsidies to entitlements to an overhaul of the tax code, neither a majority of Democrats or Republicans have been willing to seriously upset the status quo.

But, with an Obama-friendly left centered media, everything is still all the Republicans fault. And because you can convince enough voters to believe that, California and a lot of other states keep voting in the same people who have tolerated and/or been responsible for creating the problems.

 

[Star]

It goes without saying that all initiatives and proposals and taxes and fees proposed Republicans are terrible if you are a Democrat.

And you will probably oppose initiatives and proposals and taxes and fees proposed by Democrats if you are a Republican.

That is why we have two political parties. Opposing concepts. Opposing ideas. Opposing processes.

But for the life of me, I can't see the rationale for how the when the Republicans have the power in Congress and the Whitehouse, everything bad that happens is all the Republicans fault.

But when the Democrats have the power in Congress and the Whitehouse, everything bad that happens is still all the Republicans fault.

thats basically what this meatball is saying about California........Prop 13 was thought of by a Republican for what seemed a good idea for the Retirees,voted in by the electorate,who are mostly Democrats,and has been kept as law ever since by both parties in this State,including the MOSTLY Democratic citizens here......but the Republicans are the ones responsible for the States ills.....Star is just another die hard Lefty who cant imagine Democrats ever being part of a problem....

To funny, instead of telling/showing us how much faster CA's economy has grown and how much better CA's economy is post Prop 13, compared to how CA's economy had grown and how much worse CA's economy was pre Prop 13, the righty's on this M/B choose to whine and name call-------I wonder why?

 

[Meister]

It goes without saying that all initiatives and proposals and taxes and fees proposed Republicans are terrible if you are a Democrat.

And you will probably oppose initiatives and proposals and taxes and fees proposed by Democrats if you are a Republican.

That is why we have two political parties. Opposing concepts. Opposing ideas. Opposing processes.

But for the life of me, I can't see the rationale for how the when the Republicans have the power in Congress and the Whitehouse, everything bad that happens is all the Republicans fault.

But when the Democrats have the power in Congress and the Whitehouse, everything bad that happens is still all the Republicans fault.

thats basically what this meatball is saying about California........Prop 13 was thought of by a Republican for what seemed a good idea for the Retirees,voted in by the electorate,who are mostly Democrats,and has been kept as law ever since by both parties in this State,including the MOSTLY Democratic citizens here......but the Republicans are the ones responsible for the States ills.....Star is just another die hard Lefty who cant imagine Democrats ever being part of a problem....

To funny, instead of telling/showing us how much faster CA's economy has grown and how much better CA's economy is post Prop 13, compared to how CA's economy had grown and how much worse CA's economy was pre Prop 13, the righty's on this M/B choose to whine and name call-------I wonder why?

Whine and name call? You're the one doing the whining...deny it all you want, but......

 

[Harry Dresden]

It goes without saying that all initiatives and proposals and taxes and fees proposed Republicans are terrible if you are a Democrat.

And you will probably oppose initiatives and proposals and taxes and fees proposed by Democrats if you are a Republican.

That is why we have two political parties. Opposing concepts. Opposing ideas. Opposing processes.

But for the life of me, I can't see the rationale for how the when the Republicans have the power in Congress and the Whitehouse, everything bad that happens is all the Republicans fault.

But when the Democrats have the power in Congress and the Whitehouse, everything bad that happens is still all the Republicans fault.

thats basically what this meatball is saying about California........Prop 13 was thought of by a Republican for what seemed a good idea for the Retirees,voted in by the electorate,who are mostly Democrats,and has been kept as law ever since by both parties in this State,including the MOSTLY Democratic citizens here......but the Republicans are the ones responsible for the States ills.....Star is just another die hard Lefty who cant imagine Democrats ever being part of a problem....

To funny, instead of telling/showing us how much faster CA's economy has grown and how much better CA's economy is post Prop 13, compared to how CA's economy had grown and how much worse CA's economy was pre Prop 13, the righty's on this M/B choose to whine and name call-------I wonder why?

who had a major part in voting Prop 13 in.....and who till this day,BECAUSE,it helps even Democratic homeowners,do not want it repealed?....now mr "lefty" give me an answer,and then lets see you put the blame on Republicans.....

 

[American_Jihad]

CA Cities Consider Seizing Mortgages

7/6/12 By Arnold Ahlert

In a move best described as an unholy alliance between over-reaching government and crony capitalism, some local government officials in California are exploring ways to invoke eminent domain in order to restructure mortgages for underwater homeowners. California’s San Bernardino County and two of its largest cities, Ontario and Fontana, would seize mortgages from the private investors who currently own them, cut the loan and principle to the current property value, and resell them to new investors.

---
CA Cities Consider Seizing Mortgages | FrontPage Magazine

[Spreading the wealth to criminalcrats]

 

[flacaltenn]

But smoking pot is fun!!!!

California born and raised, proud of it. Cali gettin stuff done.

I too was born and raised in cali. At 65yrs of age I moved to Oregon. The libs killed paradise and I couldn't stand it anymore. Moving was the best thing I ever did.

Oregon wasn't far enough says flaCAL-TENN..

 

[Pho_King]

tax cigarettes another $1.00 per pack.. supposedly to get smokers to stop smoking.. and then they want ya to amoke some pot. California is nutzoid.

Don't smoke. Easy Peasy.

Mind your own business. Even easier

 

[American_Jihad]

lol red star

1 Percent of Households Will Pay 80 Percent of California’s Income Taxes​

November 27, 2012
By Daniel Greenfield

This is a problem that can only be solved with higher taxes, union ownership of government and illegal immigration. And by solved, I mean empty the state of everyone who earns a living without working for the government and speaks English which will turn California into a place that Greece favorably compares itself to.


---
People will go on doing that. There will be just less and less of them doing it in California. New lands of opportunity keep opening up, even as an old land of opportunity turns into a place that King George III would have said was too repressive and tax-hungry.

When your economy is based on unsustainable spending on the backs of the middle class, then the middle class will shrink through attrition or escape through the moving van. Either way the ObamaPhone economy loses.

1 Percent of Households Will Pay 80 Percent of California’s Income Taxes

 

[American_Jihad]

California Dems Fight to Let Illegal Alien Criminals Loose


January 8, 2013
By Michael Volpe

Ever since California’s Governor Jerry Brown vetoed legislation that would have all but entirely ended all cooperation between the State of California and ICE on detainers less than ninety days ago, liberals, both in Sacramento and in specific localities, have been plotting to institute the legislation in whole or at least in parts.

ICE detainers are holds, up to two business days, that ICE places on municipal prisoners it wants held for additional time because ICE believes they are eligible for deportation. In early October, Governor Jerry Brown vetoed what was then referred to as the TRUST Act (Transparency and Responsibility Using State Tools).

...

California Dems Fight to Let Illegal Alien Criminals Loose

 

[Inthemiddle]

I think it would be unconstitutional to unfairly tax something in an attempt to make people stop using it.

What in the California state constitution would make it unconstitutional? The state of California is entitled to tax whatever they want, however they want. If the people don't like it, they can address their state legislatures about it.

 

[Foxfyre]

There isn't anything unconstitutional about any state imposing whatever taxes it wants. However, if it wants people to do business and live in that state and pay taxes, it generally does much better by making the tax environment as friendly as possible. In that regard, California consistently shoots itself in its own foot, which is why so many people flee that state for more business friendly and/or affordable climes. We probably have more Calfornians in our area than we do native New Mexicans.

But government has applied sin taxes for a very long time now. As the theory goes, if you want something to increase, subsidize it.

If you want something to decrease, tax it.

 

[American_Jihad]

California Pols Create Fake Mandatory “Retirement” Fund to Raid

July 31, 2013 By Daniel Greenfield

It was either this or pass another tax. And even with a Democratic supermajority of the welfare state running the state, California politicians apparently decided that it would be easier to create a fake mandatory retirement fund. (via American Digest)

California lawmakers are pushing a controversial, first-in-the-nation plan that would require private-sector employers to remove 3 percent from every worker’s paycheck. The money would go into a new state fund with a guarantee that all withheld funds plus investment gains will be available for distribution at retirement age.

The idea behind the Secure Choice Retirement Savings Program, which got preliminary approval, is for it to be a state-run supplement to Social Security, but only for people who don’t have traditional workplace retirement plans. For an estimated 6 million working Californians, the benefit of a pension or 401(k) is out of reach — so state lawmakers are trying to implement the new mandatory retirement fund for private sector workers.

Let’s call this magical ball of money what it actually is, a slush fund to cover the shortfalls on CALPERS, California’s insane public sector pension crisis.

...

Any promise to cover the money is a fantasy. This just makes it a bigger fantasy. Once again workers are being raided to cover for unions.

California Pols Create Fake Mandatory ?Retirement? Fund to Raid | FrontPage Magazine

 

[Meister]

California Pols Create Fake Mandatory “Retirement” Fund to Raid

July 31, 2013 By Daniel Greenfield

It was either this or pass another tax. And even with a Democratic supermajority of the welfare state running the state, California politicians apparently decided that it would be easier to create a fake mandatory retirement fund. (via American Digest)

California lawmakers are pushing a controversial, first-in-the-nation plan that would require private-sector employers to remove 3 percent from every worker’s paycheck. The money would go into a new state fund with a guarantee that all withheld funds plus investment gains will be available for distribution at retirement age.

The idea behind the Secure Choice Retirement Savings Program, which got preliminary approval, is for it to be a state-run supplement to Social Security, but only for people who don’t have traditional workplace retirement plans. For an estimated 6 million working Californians, the benefit of a pension or 401(k) is out of reach — so state lawmakers are trying to implement the new mandatory retirement fund for private sector workers.

Let’s call this magical ball of money what it actually is, a slush fund to cover the shortfalls on CALPERS, California’s insane public sector pension crisis.

...

Any promise to cover the money is a fantasy. This just makes it a bigger fantasy. Once again workers are being raided to cover for unions.

California Pols Create Fake Mandatory ?Retirement? Fund to Raid | FrontPage Magazine

Report: California’s Actual Debt At Least $848B; Could Pass $1.1T

According to the report — at 5.5 percent interest — an additional $200 billion would be added to unfunded pension liability.

The total $848.4 billion state and local government debt is called a “low estimate” by the report.

Adding, California’s long-term debt acquired by K-12 schools, cities, counties, special districts and redevelopment agencies as well as unfunded pension liabilities and future retirement healthcare could balloon the debt to $1.13 trillion.
http://sacramento.cbslocal.com/2013...nias-actual-debt-set-at-848b-could-pass-1-1t/


What was "Moonbeam" touting not so long ago?

 

[Star]

California Pols Create Fake Mandatory “Retirement” Fund to Raid

July 31, 2013 By Daniel Greenfield

It was either this or pass another tax. And even with a Democratic supermajority of the welfare state running the state, California politicians apparently decided that it would be easier to create a fake mandatory retirement fund. (via American Digest)

California lawmakers are pushing a controversial, first-in-the-nation plan that would require private-sector employers to remove 3 percent from every worker’s paycheck. The money would go into a new state fund with a guarantee that all withheld funds plus investment gains will be available for distribution at retirement age.

The idea behind the Secure Choice Retirement Savings Program, which got preliminary approval, is for it to be a state-run supplement to Social Security, but only for people who don’t have traditional workplace retirement plans. For an estimated 6 million working Californians, the benefit of a pension or 401(k) is out of reach — so state lawmakers are trying to implement the new mandatory retirement fund for private sector workers.

Let’s call this magical ball of money what it actually is, a slush fund to cover the shortfalls on CALPERS, California’s insane public sector pension crisis.

...

Any promise to cover the money is a fantasy. This just makes it a bigger fantasy. Once again workers are being raided to cover for unions.

California Pols Create Fake Mandatory ?Retirement? Fund to Raid | FrontPage Magazine

But-----but in reality...


Fox News falsely claimed California workers would be forced to participate...

But in reality no one will be forced to contribute to California's proposed Secure Choice Retirement Savings Plan. The program would only be for workers whose employers don't already sponsor a pension plan or a 401(k) for their retirement, allowing them to pay into an account that would pay benefits based on account contributions and investment returns. Any workers who don't want to participate can opt out.

Ben Harris, a former senior economist with the President's Council of Economic Advisers, wrote at the Tax Policy Center's TaxVox blog that the program is "entirely voluntary," and the use of automatic enrollment which workers can opt out of has the potential to "bring more than 6 million workers into the retirement saving universe":


And-----and "the plan is reportedly likely to cost the California state government nothing"
.

 

[Katzndogz]

This could be a bone the state is throwing to the drug cartels. Legalize pot, and to pay the cartels back, create a black market in both untaxed pot and untaxed cigarettes.

The local tobacco shop is selling mostly electronic cigarettes now anyway.

 

[Meister]

California Pols Create Fake Mandatory “Retirement” Fund to Raid

July 31, 2013 By Daniel Greenfield

It was either this or pass another tax. And even with a Democratic supermajority of the welfare state running the state, California politicians apparently decided that it would be easier to create a fake mandatory retirement fund. (via American Digest)

California lawmakers are pushing a controversial, first-in-the-nation plan that would require private-sector employers to remove 3 percent from every worker’s paycheck. The money would go into a new state fund with a guarantee that all withheld funds plus investment gains will be available for distribution at retirement age.

The idea behind the Secure Choice Retirement Savings Program, which got preliminary approval, is for it to be a state-run supplement to Social Security, but only for people who don’t have traditional workplace retirement plans. For an estimated 6 million working Californians, the benefit of a pension or 401(k) is out of reach — so state lawmakers are trying to implement the new mandatory retirement fund for private sector workers.

Let’s call this magical ball of money what it actually is, a slush fund to cover the shortfalls on CALPERS, California’s insane public sector pension crisis.

...

Any promise to cover the money is a fantasy. This just makes it a bigger fantasy. Once again workers are being raided to cover for unions.

California Pols Create Fake Mandatory ?Retirement? Fund to Raid | FrontPage Magazine

But-----but in reality...


Fox News falsely claimed California workers would be forced to participate...

But in reality no one will be forced to contribute to California's proposed Secure Choice Retirement Savings Plan. The program would only be for workers whose employers don't already sponsor a pension plan or a 401(k) for their retirement, allowing them to pay into an account that would pay benefits based on account contributions and investment returns. Any workers who don't want to participate can opt out.

Ben Harris, a former senior economist with the President's Council of Economic Advisers, wrote at the Tax Policy Center's TaxVox blog that the program is "entirely voluntary," and the use of automatic enrollment which workers can opt out of has the potential to "bring more than 6 million workers into the retirement saving universe":


And-----and "the plan is reportedly likely to cost the California state government nothing"
.

Kinda of wish the video worked from mediamatters, I really don't know if it's by design or not, what I got was this. "

"The video could not be loaded, either because the server or network failed or because the format is not supported"

So I really don't know how Fox presented it. The OP's site is wrong and there is an opt out option to SB 1234.
I just hope that if this passes that Ca. can invest more wisely with this pension bill than it does with the state employee pensions. It's been a disaster, so.....if it was me, I would take that 3% and invest it myself which which would have a much better chance of making money than the state of Ca.

 

[Foxfyre]

California Pols Create Fake Mandatory “Retirement” Fund to Raid

July 31, 2013 By Daniel Greenfield

It was either this or pass another tax. And even with a Democratic supermajority of the welfare state running the state, California politicians apparently decided that it would be easier to create a fake mandatory retirement fund. (via American Digest)

California lawmakers are pushing a controversial, first-in-the-nation plan that would require private-sector employers to remove 3 percent from every worker’s paycheck. The money would go into a new state fund with a guarantee that all withheld funds plus investment gains will be available for distribution at retirement age.

The idea behind the Secure Choice Retirement Savings Program, which got preliminary approval, is for it to be a state-run supplement to Social Security, but only for people who don’t have traditional workplace retirement plans. For an estimated 6 million working Californians, the benefit of a pension or 401(k) is out of reach — so state lawmakers are trying to implement the new mandatory retirement fund for private sector workers.

Let’s call this magical ball of money what it actually is, a slush fund to cover the shortfalls on CALPERS, California’s insane public sector pension crisis.

...

Any promise to cover the money is a fantasy. This just makes it a bigger fantasy. Once again workers are being raided to cover for unions.

California Pols Create Fake Mandatory ?Retirement? Fund to Raid | FrontPage Magazine

But-----but in reality...


Fox News falsely claimed California workers would be forced to participate...

But in reality no one will be forced to contribute to California's proposed Secure Choice Retirement Savings Plan. The program would only be for workers whose employers don't already sponsor a pension plan or a 401(k) for their retirement, allowing them to pay into an account that would pay benefits based on account contributions and investment returns. Any workers who don't want to participate can opt out.

Ben Harris, a former senior economist with the President's Council of Economic Advisers, wrote at the Tax Policy Center's TaxVox blog that the program is "entirely voluntary," and the use of automatic enrollment which workers can opt out of has the potential to "bring more than 6 million workers into the retirement saving universe":


And-----and "the plan is reportedly likely to cost the California state government nothing"
.

Kinda of wish the video worked from mediamatters, I really don't know if it's by design or not, what I got was this. "

"The video could not be loaded, either because the server or network failed or because the format is not supported"

So I really don't know how Fox presented it. The OP's site is wrong and there is an opt out option to SB 1234.
I just hope that if this passes that Ca. can invest more wisely with this pension bill than it does with the state employee pensions. It's been a disaster, so.....if it was me, I would take that 3% and invest it myself which which would have a much better chance of making money than the state of Ca.

I got error messages on the video too but finally did get it to work. I am not finding much evidence, howver, that there is any opt out. Employers who already provide 401Ks or retirement programs can opt out of the state program, but those who do not cannot.

The program is not targeted at individuals but what employers will be required to provide employees. And that has the effect of the 3% contribution from the employees unless the employer decides to include that as a benefit.

Benartzi, who teaches at UCLA and represents the Allianz Global Investors Center for Behavioral Finance, understands the argument of critics but but disagrees that this is an area where the government should butt out.

"We eat too much. We drink too much. We don't save enough. I think the difference in the case of savings is that I think we can fix it. By making it easier to spend less and save more," he said.

Fox News talked to several California workers whose employers don't offer them retirement benefits -- the exact people the Secure Choice program is designed to help. Each liked the idea. . . .

. . . . Employers who don't conscript workers into the program are subject to fines, though they will not have to provide any matching funds.

Burgat wonders if that requirement will soon follow.

"So for the employer in California, it becomes another huge burden in a state that CEO magazine is already calling the state that is the hardest to do business in America. It just becomes another opportunity for liability. Another opportunity for a lawsuit and yet another burden we're placing on the employer," Burgat said.

The California plan is the first in the nation, though other states have expressed interest as well as lawmakers in Washington. Before Secure Choice can go into effect, it must get approval from the IRS and U.S. Labor Department. Lawmakers must also vote on it again once a feasibility study is complete. That is expected to happen next year.

Read more: California tries to mandate retirement savings for private workers | Fox News

Not a great deal different than a government mandate that employers provide healthcare coverage for their employees or pay a fine.

 

[Star]

California Pols Create Fake Mandatory “Retirement” Fund to Raid

July 31, 2013 By Daniel Greenfield

It was either this or pass another tax. And even with a Democratic supermajority of the welfare state running the state, California politicians apparently decided that it would be easier to create a fake mandatory retirement fund. (via American Digest)

California lawmakers are pushing a controversial, first-in-the-nation plan that would require private-sector employers to remove 3 percent from every worker’s paycheck. The money would go into a new state fund with a guarantee that all withheld funds plus investment gains will be available for distribution at retirement age.

The idea behind the Secure Choice Retirement Savings Program, which got preliminary approval, is for it to be a state-run supplement to Social Security, but only for people who don’t have traditional workplace retirement plans. For an estimated 6 million working Californians, the benefit of a pension or 401(k) is out of reach — so state lawmakers are trying to implement the new mandatory retirement fund for private sector workers.

Let’s call this magical ball of money what it actually is, a slush fund to cover the shortfalls on CALPERS, California’s insane public sector pension crisis.

...

Any promise to cover the money is a fantasy. This just makes it a bigger fantasy. Once again workers are being raided to cover for unions.

California Pols Create Fake Mandatory ?Retirement? Fund to Raid | FrontPage Magazine

But-----but in reality...


Fox News falsely claimed California workers would be forced to participate...

But in reality no one will be forced to contribute to California's proposed Secure Choice Retirement Savings Plan. The program would only be for workers whose employers don't already sponsor a pension plan or a 401(k) for their retirement, allowing them to pay into an account that would pay benefits based on account contributions and investment returns. Any workers who don't want to participate can opt out.

Ben Harris, a former senior economist with the President's Council of Economic Advisers, wrote at the Tax Policy Center's TaxVox blog that the program is "entirely voluntary," and the use of automatic enrollment which workers can opt out of has the potential to "bring more than 6 million workers into the retirement saving universe":


And-----and "the plan is reportedly likely to cost the California state government nothing"
.

Kinda of wish the video worked from mediamatters, I really don't know if it's by design or not, what I got was this. "

"The video could not be loaded, either because the server or network failed or because the format is not supported"

So I really don't know how Fox presented it. The OP's site is wrong and there is an opt out option to SB 1234.
I just hope that if this passes that Ca. can invest more wisely with this pension bill than it does with the state employee pensions. It's been a disaster, so.....if it was me, I would take that 3% and invest it myself which which would have a much better chance of making money than the state of Ca.

What disaster are you talking about? After taking a hit (they did better than the market) during the Bush recession (didn't we all?) California pension fund investments have done better than the market.


"Both funds benefited from a year-long runup in global stock prices. They also made strategic investment changes in response to the 2008 market crash; CalPERS, for instance, overhauled its real estate portfolio to create more predictable results.

"These numbers are convincing evidence that CalPERS has the ability to produce good returns on a sustainable basis," said Joe Dear, chief investment officer at the California Public Employees' Retirement System.

Still, each organization is wrestling with major long-term deficits, known officially as unfunded liabilities, that will strain state and local government budgets over the next several decades.

While both funds have plenty of cash to pay claims for the foreseeable future, CalPERS is $100 billion short over the long term and CalSTRS's deficit is $70 billion."

And

"Let’s start by assuming you left the Earth on Dec. 31, 2007, returned June 3, 2013, and had no news in the interim five-plus years.

When you left, the Dow Jones Industrial Average stood at 13,264. On your return it was 15,252, up 15 percent. Dividends provided an additional 2 percent each year. Fixed-income investments did even better because interest rates declined while you were away, with AA corporate bonds producing returns bettering 8 percent per annum.

From your perspective, it looks as if investments did just fine during your trip. And for long-term investors, you would be right. For example, the assets reported by the largest U.S. public pension fund, the California Public Employees’ Retirement System, are greater today than in 2007. So to whom is Sacramento County’s executive referring?

He’s referring to short-term investors who were forced to sell at the wrong time. Handed a newspaper from 2009, you learn that the country suffered a recession while you were away and that at one point the stock market dropped below 7,000. When that happened, short-term or leveraged investors who had borrowed money to buy stocks suffered investment losses when they were forced to sell equities at low prices.

Long-Term Investors

That category of investor doesn’t include public pension funds. They don’t have short-term liabilities and aren’t forced to sell at the wrong time. Instead, they are invested for the very long term -- decades -- and are run by professional investors with the expertise to take advantage of market volatility. They are more like Warren Buffett’s Berkshire Hathaway Inc., another long-term investor that isn’t forced to sell when prices decline and has the resources to take advantage when prices fall."

But

..."public pension liabilities continue to grow faster than assets, Calpers recently announced a 50 percent increase in pension costs for governments, starting in 2015.

Looks to me like California is addressing a future-----future problem - good on them. If only the US House of Representatives could look beyond the next election, but alas...
.