Tag Archives: pension fund

Norman Elarth: “they will speak of uncontrollable external cost increases, rather than overcompensated and underfunded employees”

8 Aug

From the Chico Enterprise Record:

Policies help conceal false allocation of resources

Aquatic centers, solar power, new sports arenas around Sacramento, etc. Many are seeking the notoriety, above-market compensation, or even the cheap entertainment that becomes available by taxing the workingman. The question is why our politicians want to destroy our wealth by investing in entertainment and doubly expensive electricity, particularly since businessmen will not increase production and employment until workers are capable of paying down debt and increasing expenditures.

Unfortunately, while democracy and capitalism are both succumbing to government overspending, public greed, and the faulty allocation of financial resources, the problem is amplified by the leaders of government and its related entities. In order to maintain their power, they must increasingly provide a free lunch even more grandiose than the public can stomach, and hence we often find that their policies are shrouded in falsehood and deceit.

Thus, while our school board obscures the cash bonus and cumulative 9.2 percent raise given to our teachers, they completely hide the additional 4.3 percent of their salary that we will be paying into their pension fund for the years 2014 and 2015 combined. Another 4.3 percent will be added next year under Assembly Bill No. 1469. Their poorly managed total compensation for 10-months work will be about $60 per hour.

When cities and water and power companies help bankrupt our workers and the elderly with increased fees and rates, they speak of uncontrollable external cost increases, rather than overcompensated and underfunded employees.

— Norman Elarth, Chico