Kansas Tea Party governor proposes to use pensions to cover tax cuts

[Vandalshandle]

Kansas Governor Proposes Using Pension Money to Cover Budget Gaps Created By His Tax Cuts


"In 2012, Kansas Gov. Sam Brownback signed a landmark bill that delivered big tax cuts to high income earners and businesses. Less than two years after that tax cut, the state's income tax revenues plummeted by a quarter-billion dollars -- and now Brownback is pushing to use money for public employees’ pensions to instead cover the state's ensuing budget shortfalls.

Brownback's proposal: Slash the state’s required pension contribution by $40 million to balance the state budget. But Kansas already has one of the worst-funded pension systems in the nation. The state was also recently sanctioned by the Securities and Exchange Commission for not accurately disclosing the shortfalls.

Brownback, an icon of tea party economics who was re-elected in 2014, defended his proposal to divert money from the Kansas Public Employees Retirement System (KPERS), telling the Wichita Eagle: “It’s kind of, uh, well where are you going to go for the funds? And I don’t like it, but it’s kind of what’s your other option if you don’t hit K-12 and higher ed with allotments?”
"

So, Kansas employees, how is that Tea Party thingy working out for ya?

 

[Dont Taz Me Bro]

Sounds like a stupid thing to do.

 

[Toro]

It is enormously fiscally irresponsible.

Eventually, Kansas taxpayers are going to pay for it anyways. But it allows the ideologue to crow about his sacred cow while being financially reckless.

 

[JakeStarkey]

Sam needs to go after Big Business who got the breaks in the first place, not the working class tax payers.

 

[bucs90]

Kansas will end up with some really shitty cops teachers and other govt employees. They'll get only the ones who cant find work elsewhere.

Im all for small reasonable governments. But you have core functions. And you want good people doing them.

 

[Moonglow]

Is this the so called conservative version of robbing Peter to pay Paul?

 

[Toro]

Is this the so called conservative version of robbing Peter to pay Paul?

Pretty much.

Many conservatives say we shouldn't have public pensions then behave in the manner they say will bankrupt the pensions in the first place.

 

[rdean]

Wow, I think it sounds like a great idea. Republicans are always coming up with new and exciting ways to screw over Americans. Seems this could be a very successful plan.

 

[Book of Jeremiah]

I have a better idea. Let them cut off all the lifetime paychecks to Congressmen & Senators. Set up a program to recoup those losses and make it a law that all living recipients start paying back the American tax payer the money they have already collected on. Until they have returned every dime. They were never entitled to it in the first place. Serving in public office should be just that - a service to our country - not a way to collect a life time paycheck.

Now we have solved their tax cut problem with money to spare. How's that?

 

[Statistikhengst]

This makes Sam Brownback the second Governor from the state of Kansas to fudge on the finances.

Alf Landon also did it back in 1935 - misappropriated all of the NEW DEAL funds from the FEDS to balance his budget and more Kansans than ever before went without food.

What a shame. Kansas is actually a very nice place in many ways.

 

[Luddly Neddite]

Is this the so called conservative version of robbing Peter to pay Paul?

At the cost of the working class.

Poor fools voted for him and now get to bend over for him.

 

[Moonglow]

Is this the so called conservative version of robbing Peter to pay Paul?

At the cost of the working class.

Poor fools voted for him and now get to bend over for him.

What really sucks is he told them what he planned to borrow....and they still elected him....along with his trashing the education dept of Kanass...

 

[Stephanie]

And, do you live there?

If the people in Kansas don't like it they will stand up and say something.

 

[JakeStarkey]

He never should have been elected in the first place, which proves people deserve the government for which they voted.

 

[Stephanie]

omg, people can't put into their own pensions. Many people do it all the time. Wean yourself off the taxpayers tit

that's what bankrupted DETROIT

 

[thereisnospoon]

Kansas Governor Proposes Using Pension Money to Cover Budget Gaps Created By His Tax Cuts


"In 2012, Kansas Gov. Sam Brownback signed a landmark bill that delivered big tax cuts to high income earners and businesses. Less than two years after that tax cut, the state's income tax revenues plummeted by a quarter-billion dollars -- and now Brownback is pushing to use money for public employees’ pensions to instead cover the state's ensuing budget shortfalls.

Brownback's proposal: Slash the state’s required pension contribution by $40 million to balance the state budget. But Kansas already has one of the worst-funded pension systems in the nation. The state was also recently sanctioned by the Securities and Exchange Commission for not accurately disclosing the shortfalls.

Brownback, an icon of tea party economics who was re-elected in 2014, defended his proposal to divert money from the Kansas Public Employees Retirement System (KPERS), telling the Wichita Eagle: “It’s kind of, uh, well where are you going to go for the funds? And I don’t like it, but it’s kind of what’s your other option if you don’t hit K-12 and higher ed with allotments?”
"

So, Kansas employees, how is that Tea Party thingy working out for ya?

Umm, it's not their money. It's the taxpayers money.
Oh, the revenue shortfall is not entirely the doing of the tax cuts. You deliberately leave out the part about the slow economy over the last 7 years

 

[Stephanie]

Kansas Governor Proposes Using Pension Money to Cover Budget Gaps Created By His Tax Cuts


"In 2012, Kansas Gov. Sam Brownback signed a landmark bill that delivered big tax cuts to high income earners and businesses. Less than two years after that tax cut, the state's income tax revenues plummeted by a quarter-billion dollars -- and now Brownback is pushing to use money for public employees’ pensions to instead cover the state's ensuing budget shortfalls.

Brownback's proposal: Slash the state’s required pension contribution by $40 million to balance the state budget. But Kansas already has one of the worst-funded pension systems in the nation. The state was also recently sanctioned by the Securities and Exchange Commission for not accurately disclosing the shortfalls.

Brownback, an icon of tea party economics who was re-elected in 2014, defended his proposal to divert money from the Kansas Public Employees Retirement System (KPERS), telling the Wichita Eagle: “It’s kind of, uh, well where are you going to go for the funds? And I don’t like it, but it’s kind of what’s your other option if you don’t hit K-12 and higher ed with allotments?”
"

So, Kansas employees, how is that Tea Party thingy working out for ya?

Umm, it's not their money. It's the taxpayers money.
Oh, the revenue shortfall is not entirely the doing of the tax cuts. You deliberately leave out the part about the slow economy over the last 7 years

You don't expect any lib/leftwinger here to be honest do you? It's the most disgusting thing I've ever seen. PARTY over country for them. they are the ones tearing this country apart

 

[thereisnospoon]

Kansas will end up with some really shitty cops teachers and other govt employees. They'll get only the ones who cant find work elsewhere.

Im all for small reasonable governments. But you have core functions. And you want good people doing them.

Do public employees only take the jobs with the expectation of upon the end of their careers they will be paid to not work?
I oppose defined benefit pensions not paid for in their entirety by the pensioner unless the employer and employee contributions are equal.
This idea of government employees contributing 5 or 10% of their pension while the taxpayers pick up the rest is absurd.

 

[Stephanie]

Kansas will end up with some really shitty cops teachers and other govt employees. They'll get only the ones who cant find work elsewhere.

Im all for small reasonable governments. But you have core functions. And you want good people doing them.

Do public employees only take the jobs with the expectation of upon the end of their careers they will be paid to not work?
I oppose defined benefit pensions not paid for in their entirety by the pensioner unless the employer and employee contributions are equal.
This idea of government employees contributing 5 or 10% of their pension while the taxpayers pick up the rest is absurd.

They'd rather see Kansas go down because it supposedly has a, TEA PARTY governor. Detroit never had a Republican run that city and LOOK where it sits. Their pensions are in bankruptcy while their elected offices lived high off the hog

 

[initforme]

Yes stick it to the kindergarten teachers, cops, firemen, etc. Those terrible nasty people. Yet corporations get massive tax breaks and laugh all the way to the bank. Way to treat your people. What is absurd is people voted for this guy... he has everything messed up and wants to stick it to the middle class even more. Unreal. He's all in for the wealthy and that is it.