September 5, 2010
For those who want to bone up on this stuff, here is a fascinating presentation that was given to the Commission. All of this teeth-nashing result in a ‘catastrophic’ 4% reduction in payout- for people who retire in 15 years at the 200% level ( the 150% numbers were not included in this part of the slide show; why? We must have these!). At 10 years 2-1 reduces pension 2.5%.
The real kicker is on slide page 8; look at the graph of the required rate at 200% with a $5M lump sum. Half of ANY of the 250%! Again the 150% numbers are missing here; where are they?
Big benefit for small loss at retirement. However, like the private sector, the ‘pain’ should be shared. How about a 2.5 – 4% reduction in the Commissioner’s CURRENT pay to show leadership?
Some of the other side are calling for holding off on any decrease until some ‘study’ is done; how many times does that get used in government to kill action via delay? The numbers are there, and even Joe Jaynes and Jerry Hoagland voted with the majority for the 200% number. The numbers haven’t changed since.
Again: WHERE ARE THE 150% NUMBERS??
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Posted by Mike O
September 4, 2010
After years of insisting that tax cuts actually hurt the economy, the Democrats are now proposing a tax cut to stimulate the economy.
Amongst all the tax hikes scheduled to impact small businesses on Jan 1, the Democrat’s most likely proposal is a payroll tax “holiday”. Will saving a week’s worth, or a month’s worth of payroll taxes, incentivize small businesses to go on a hiring binge? Will this provide the economic certainty needed by corporate America to begin hiring again?
Apparently Congress has already approved (but I don’t think Obama has signed) a payroll tax break for hiring someone who has been unemployed 60 days or more. Of course, this also serves to add more paperwork burden to the small business. The burden will be on the employer to prove the new employee’s prior unemployment status, which requires additional work, and adds yet more cost.
When hiring at the professional level, what is more attractive to an employer? Someone they can get a 6.2% temporary tax break on, or someone currently employed, or someone unemployed only briefly? As a professional in the staffing industry I can tell you, the longer someone has been unemployed, the more difficult it is for them to get hired. A 6.2% tax break won’t help much, if at all.
Will this 6.2% temporary tax break be enough to incentivize more hiring, when the end consumer is not buying products/services?
I think not. Businesses are not hiring because of all the uncertainty in the economy, and the uncertainty of future tax burdens.
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Posted by jimbright
September 2, 2010
The North Texas Tea Party met tonight and reviewed two State Representative candidates for TeaApproval consideration. After reviewing the candidates backgrounds, previous political work, statement and position, and responses to our questionnaires, the group as a whole determined both will be truly supportive of the 5 Principles in office (Personal Responsibility, Financial Responsibility, Limited Government, Rule of Law, National Sovereignty) Congratulations to Stefani Carter and Cindy Burkett!
Now for fellow Tea Partiers: this is just the beginning. It is time for us to show up for the walks, the sign building, and the phone banks to help these great candidates in their campaigns. And, while volunteerism is most important, do not forget to donate financially to their causes as well. These are two key State races that can make a REAL difference.
Click the links above: volunteer. They have walks and phone calling you can be helping with right now. And it sure is more important than whatever is on TV at the moment.
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Posted by Mike O
