Wisconsin public sector employees, don’t forget to thank your neighbors for the still incredibly generous pay and benefits they are providing you, at their own family’s expense.
To our public sector brethren in Wisconsin, please keep in mind the following:
1. You will now have to contribute 5.8% towards your pension. Take solace knowing that the people funding that pension have to pay almost 100% of their retirement out of their own pocket because they have no pension. Almost none of them will earn in retirement even 50% of what you will earn, no matter their job. Take this deal and run as it is literally worth millions to you.
2. You will now have to pay 12% of your health insurance costs. I’m sure your blood pressure will go down when you realize the good people of Wisconsin who are funding this benefit for you are contributing on average 21% for their own health insurance costs.
3. Your healthcare until the day you die will be paid for by Wisconsin private sector employees, except for the 12% you have to contribute. Your fellow Wisconsin-ites will have no such benefit and will have to fund their health coverage on their own, with the help of perhaps Medicare. Their out of pocket expense will be 3-4 times what yours will be.
4. Instead of facing a $3.6 billion deficit in 2013, which would have grown exponentially and then be left to your children to pay off, Wisconsin is now generating a surplus. Your children, and those of private sector employees, will now be more secure.
Yes, you lost the battle on the recall. But you are still sitting pretty, so count your blessings and return to work. And, thank your neighbors for their generosity.