Perhaps revenues were up because of inflation, an expanded tax base, an inflated housing market, etc. etc. etc. Maybe voters asked for more services. My question remains: why do previously solid programs - libraries, employee pensions, schools, etc. - now face so many cuts? These were here back in 98/99. Now suddenly we need to privatize everything, cut taxes, and so forth. I don't get it.
Fine, Sam, the line was overly inflammatory. But look, taxes are down for most Americans. And people are still talking about bringing them down further. We've made really bad spending decisions, too, but I'm not sure public employee retirement packages can qualify as one of them, and yet here they are on the chopping block.
Maybe if we cut spending on prison cells, foreign wars, and corporate subsidies we wouldn't have to have conversations about closing down public libraries, public schools, and hacking away at the public pension system.
I don't think you're a stingy jerk. I don't think people who want smaller government and lower taxes are bad or greedy. A lot of them are honest, hard-working people. But a lot of them, I think, undervalue many of the public services that are provided for them, and a lot of them are only too willing to support a huge military budget.
I'd have to look at the budget numbers in PA more closely. What accounts for the increase? Obviously the budget expanded as the economy bubbled up, and obviously that budget is going to have to go back down. Nobody's disputing that. But before the bubble we weren't talking about closing libraries, or huge unfunded pensions, or any of that. And now we are. What happened? It's not just an inability to cut spending or raise taxes. Where did all that money get diverted to?
Tom - tax rates are at their lowest ever, and still we see clamoring for further cuts. Still we see supply-side nonsense that further cuts will generate higher revenue. Anti-tax crusaders may be dramatic rhetoric, but it isn't that far from the truth in today's political climate.
Oh no, not Hayek though I do value a number of his insights. Liberal markets fall across a wide spectrum here. This is probably not best viewed as liberal-tarian, honestly.
Mike - I think this simplifies things a great deal. The history of the labor movement is fraught with corporate and government attempts to quash and disrupt and destroy organized labor through physical force or the strong arm of the law. When this failed it was to outsource jobs and bring in foreign, non-unionized workers. We can argue about the various benefits of these policies to the economy on a whole, and certainly trying to reconcile unionism and globalism is tricky, but the methods used and the intended results strike me as rather lopsided toward the elites at the expense of workers. Other countries - I keep mentioning Sweden - incorporate globalization and organized labor without subverting either.
Why just illegal immigration though? Why not outsourcing jobs? At least with immigration you get an increase in demand, more mouths to sell food to, etc. Outsourcing work takes the money out of the picture and doesn't add any new demand. Yes, it might lead to cheaper goods but is it an even trade? Is it as good a bargain as increased immigration?
Will - I'm not saying there doesn't need to be reforms. But what if that article, and the entire discussion so far surrounding public pensions, is only focusing on one tiny slice of a much bigger problem - namely, that people aren't going to have retirement savings. 401k's are fine, but a lot of people don't know how to manage them. The crisis extends far, far beyond the pension crisis in California. Even there, however, I think a much deeper problem is the inability of the state to pass a budget.
On “The Public Pension Problem”
Newspeak is a bit inflammatory Tom. Just sayin'.
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You should submit a guest post, mcclaren...
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Perhaps revenues were up because of inflation, an expanded tax base, an inflated housing market, etc. etc. etc. Maybe voters asked for more services. My question remains: why do previously solid programs - libraries, employee pensions, schools, etc. - now face so many cuts? These were here back in 98/99. Now suddenly we need to privatize everything, cut taxes, and so forth. I don't get it.
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Well said, Bob. Methinks there's a post in this....
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Fine, Sam, the line was overly inflammatory. But look, taxes are down for most Americans. And people are still talking about bringing them down further. We've made really bad spending decisions, too, but I'm not sure public employee retirement packages can qualify as one of them, and yet here they are on the chopping block.
Maybe if we cut spending on prison cells, foreign wars, and corporate subsidies we wouldn't have to have conversations about closing down public libraries, public schools, and hacking away at the public pension system.
I don't think you're a stingy jerk. I don't think people who want smaller government and lower taxes are bad or greedy. A lot of them are honest, hard-working people. But a lot of them, I think, undervalue many of the public services that are provided for them, and a lot of them are only too willing to support a huge military budget.
I'd have to look at the budget numbers in PA more closely. What accounts for the increase? Obviously the budget expanded as the economy bubbled up, and obviously that budget is going to have to go back down. Nobody's disputing that. But before the bubble we weren't talking about closing libraries, or huge unfunded pensions, or any of that. And now we are. What happened? It's not just an inability to cut spending or raise taxes. Where did all that money get diverted to?
"
Tom - tax rates are at their lowest ever, and still we see clamoring for further cuts. Still we see supply-side nonsense that further cuts will generate higher revenue. Anti-tax crusaders may be dramatic rhetoric, but it isn't that far from the truth in today's political climate.
On “The State of the Unions”
Oh no, not Hayek though I do value a number of his insights. Liberal markets fall across a wide spectrum here. This is probably not best viewed as liberal-tarian, honestly.
On “The Public Pension Problem”
Is this common? People wanting to work somewhere but not wanting to be part of a union? Other than scabs...?
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Which is exactly the point I'm afraid.
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Yep. Convenient scapegoats or lambs to the slaughter...
On “The State of the Unions”
Mike - I think this simplifies things a great deal. The history of the labor movement is fraught with corporate and government attempts to quash and disrupt and destroy organized labor through physical force or the strong arm of the law. When this failed it was to outsource jobs and bring in foreign, non-unionized workers. We can argue about the various benefits of these policies to the economy on a whole, and certainly trying to reconcile unionism and globalism is tricky, but the methods used and the intended results strike me as rather lopsided toward the elites at the expense of workers. Other countries - I keep mentioning Sweden - incorporate globalization and organized labor without subverting either.
"
Why just illegal immigration though? Why not outsourcing jobs? At least with immigration you get an increase in demand, more mouths to sell food to, etc. Outsourcing work takes the money out of the picture and doesn't add any new demand. Yes, it might lead to cheaper goods but is it an even trade? Is it as good a bargain as increased immigration?
"
John - I agree that income inequality is a problem, but especially when it is caused by the sort of financial wizardry we see in this economy.
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Will - I'm not saying there doesn't need to be reforms. But what if that article, and the entire discussion so far surrounding public pensions, is only focusing on one tiny slice of a much bigger problem - namely, that people aren't going to have retirement savings. 401k's are fine, but a lot of people don't know how to manage them. The crisis extends far, far beyond the pension crisis in California. Even there, however, I think a much deeper problem is the inability of the state to pass a budget.
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I've come to think quite the same thing, BlaiseP. Hubris is exactly the word.
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That's very true.
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I have no illusions about this. Reforms are certainly needed.
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That could work. It's an idea in any case and right now we need lots of ideas.
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Working on that still, North.
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No doubt reform is needed, Pat. Not sure what though.
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Glad to put you out if tour misery, Mike.
On “The Financial Class and the Middle Class”
Happens to the best of us, Bob.
On “I’m Not a Conservative…”
Agreed, excellent comment, Pat.
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Yes.
On “Important Poll to Determine the Respectability of our Readership”
Best poll ever, Will.
*Comment archive for non-registered commenters assembled by email address as provided.