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| Robert Vienneau |
 Posted: Sat Jan 14, 2006 3:04 am |
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In article <dq9t1v$hjg$1@news.tdl.com>, "Phil Scott"
<philscott@philscott.net> wrote:
[quote:1a2ad8d516].
http://money.cnn.com/2006/01/13/news/economy/pension_fortune/?cnn=yes
I missed the CBS show this evening, I think they must have
cloned it from CNN's.... seems to be on the same issue with
the same title.
Mentions how the state and feds have hidden pension costs and
amounts from the tax payer, but a new law now requires that
disclosure...
its going to be nasty according to this report...
estimated unfunded and currently unfundable govt pension
liability is over a Trillion dollars...with a T.. that would
be more than one years net domestic product ...
[/quote:1a2ad8d516]
That would be comparing a stock with a flow, a cause for
confusion.
[quote:1a2ad8d516][ Usual unsubstantiated balderdash - deleted ]
....and mention that no way in hell can the tax base be hit
for these sums ... the turnip has been bled dry.
[/quote:1a2ad8d516]
I see Mr. Scott is unaware of how the U.S. tax rate compares
to other OECD countries - or even how the U.S. compares with
itself back in, say, the 1950s, back when we had corporate
and progressive income taxes.
[quote:1a2ad8d516][ Usual unsubstantiated balderdash - deleted ]
[/quote:1a2ad8d516]
--
Mostly economics: <http://www.dreamscape.com/rvien/#PublicationsForFun>
r c
v s a Whether strength of body or of mind, or wisdom, or
i m p virtue, are found in proportion to the power or wealth
e a e of a man is a question fit perhaps to be discussed by
n e . slaves in the hearing of their masters, but highly
@ r c m unbecoming to reasonable and free men in search of
d o the truth. -- Rousseau |
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| Phil Scott |
| Posted: Sat Jan 14, 2006 3:25 am |
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"Robert Vienneau" <rvien@see.sig.com> wrote in message
news:rvien-6A5C2D.03042714012006@news.dreamscape.com...
[quote:020138c790]In article <dq9t1v$hjg$1@news.tdl.com>, "Phil Scott"
philscott@philscott.net> wrote:
.
http://money.cnn.com/2006/01/13/news/economy/pension_fortune/?cnn=yes
I missed the CBS show this evening, I think they must have
cloned it from CNN's.... seems to be on the same issue with
the same title.
Mentions how the state and feds have hidden pension costs
and
amounts from the tax payer, but a new law now requires that
disclosure...
its going to be nasty according to this report...
estimated unfunded and currently unfundable govt pension
liability is over a Trillion dollars...with a T.. that
would
be more than one years net domestic product ...
That would be comparing a stock with a flow, a cause for
confusion.
[ Usual unsubstantiated balderdash - deleted ]
....and mention that no way in hell can the tax base be hit
for these sums ... the turnip has been bled dry.
I see Mr. Scott is unaware of how the U.S. tax rate compares
to other OECD countries - or even how the U.S. compares with
itself back in, say, the 1950s, back when we had corporate
and progressive income taxes.
[/quote:020138c790]
You might consider posting those figures then or at least
some approximations... the conclusion that state and federal
civil service retirements are a train wreck are from various
city and state govts in the nation who are now unable to fund
them and many who are now facing bankrupcy.
can you explain how your 'flow' issue will cure this train
wreck level insolvency? Or why it hasnt so far...
something. The entire nation would be interested.
Phil Scott
Phil Scott
[quote:020138c790]
[ Usual unsubstantiated balderdash - deleted ]
--
Mostly economics:
http://www.dreamscape.com/rvien/#PublicationsForFun
r c
v s a Whether strength of body or of mind,
or wisdom, or
i m p virtue, are found in proportion to
the power or wealth
e a e of a man is a question fit perhaps
to be discussed by
n e . slaves in the hearing of their
masters, but highly
@ r c m unbecoming to reasonable and free
men in search of
d o the truth. -- Rousseau[/quote:020138c790] |
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