"The Wisconsin Lie Exposed: Taxpayers Actually Contribute Nothing To Public Employee Pensions"


Rick Ungar has a great post up over at Forbes. You'll have to pop over to get the details. He speaks in tongues that I can't possibly recap, because as I've told you before, I glaze right over when anyone, including my CPA, starts in on pensions, taxes, and other financey stuff.

Here's the gist:

Pulitzer Prize winning tax reporter, David Cay Johnston, has written a brilliant piece for tax.com exposing the truth about who really pays for the pension and benefits for public employees in Wisconsin.

Out of every dollar that funds Wisconsin’ s pension and health insurance plans for state workers, 100 cents comes from the state workers.


Johnston goes on to point out that Governor Walker has gotten away with this false narrative because journalists have failed to look closely at how employee pension plans work and have simply accepted the Governor’s word for it. [...]

They are not, in fact, asking state employees to make a larger contribution to their pension and benefits programs as that would not be possible- the employees are already paying 100% of the contributions.

What they are actually asking is that the employees take a pay cut.

Suffice it to say, lies are being pushed, bought, and publicized. Corporate interests are getting their money's worth, the media is shirking their responsibility to educate America, let alone report accurately, and once again, democracy suffers as a result.

The good news? Unions and their supporters are making themselves heard and are finally having their say. Hopefully their message will be heard loudly, clearly, and repeatedly.

You can pick up the rest here.

H/t: ItzMeB