Academic

NEW YORK TIMES: The Coming Class War Over Public Pensions. ?The haves are retirees who were once s?

By Glenn Reynolds

NEW YORK TIMES: The Coming Class War Over Public Pensions. “The haves are retirees who were once state or municipal workers. Their seemingly guaranteed and ever-escalating monthly pension benefits are breaking budgets nationwide. The have-nots are taxpayers who don?t have generous pensions. Their 401(k)s or individual retirement accounts have taken a real beating in recent years and are not guaranteed. And soon, many of those people will be paying higher taxes or getting fewer state services as their states put more money aside to cover those pension checks. At stake is at least $1 trillion. That?s trillion, with a ‘t,’ as in titanic and terrifying.”

Full post as published by Instapundit.com on August 07, 2010 (boomark / email).