Smile, Wisconsin Public Sector Workers!

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.

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One Response to Smile, Wisconsin Public Sector Workers!

  1. Steve says:

    Two Harvard and one University of Chicago professor wrote an op-ed for the WSJ on Monday talking about the decline in public support for unions in 2011 (http://online.wsj.com/article/SB10001424052702303640104577440390966357830.html?mod=googlenews_wsj).

    Warren Buffett wrote in his 2001 Berkshire Hathaway chairman’s letter: “You only find out who is swimming naked when the tide goes out.” It would not surprise me to know that as private sector workers are driven to examine their financial pictures and make sacrifices, information like that which you present here stands even more at odds with the backdrop of fiscal deficits, spending cuts, burgeoning student loans than it does in normal times. It really is a bit shocking.

    One of the best presentations of this issue I think was made by Chris Christie at this town hall (http://www.youtube.com/watch?v=PkuTm-ON904) where he commented on the juxtaposition in circumstances between those paying the benefits and those receiving, in which the New Jersey union officials called a proposed 1-year pay freeze and a 1.5% of salary contribution to health benefits the “greatest assault on public education in the history of the state” (~3:00 in the video), while some private sector workers had been out of work for years despite being asked to continue to pay property taxes or face eviction from their homes.

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