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Teachers Cheated of Their Pensions While Banksters Enjoy Tax Payer Funded Bonuses [View All]

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McCamy Taylor Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-26-10 05:14 PM
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Teachers Cheated of Their Pensions While Banksters Enjoy Tax Payer Funded Bonuses
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The veteran teacher at your sons school is not being fired, because she does not do her job. She gets amazing results, considering that her school is

1. Under funded
2. The classrooms are too crowded
3. The kids come to school hungry
4. There is no health care available to treat their many medical problems
5. And the economy has forced many parents from their homes, requiring the kids to change school frequently as they are shuffled from one relatives house to another.

Right now, it has become fashionable in certain (government) circles to criticize teachers for not lifting kids up by their bootstraps---kids that society has failed. The teacher has to be the social worker, the doctor, the nutritionist and the counselor, because we do not want to pay someone else to do these jobs.

In order to lure people to take on this difficult and often frustrating task, local governments offer generous benefits. Teachers do not make the highest wages, but they have good health insurance, time off for vacations---and they are all guaranteed a pension, like any other dedicated government worker who chooses not to pursue higher paying work in the private sector.

Apparently, state and local governments never really intended to keep their part of the bargain. If they had, they would have made sure that teachers retirement funds were solvent.

The Manhattan Institute has an alarming new report out on teacher pension plans. Either some big changes need to be made, or state taxpayers across the country are going to have to cough up $933 billion to pay for the unfunded pension liabilities of public school teachers


The report also debunks the persistant myth that underfunded public-sector pension plans are in trouble because of the downturn in the economy. In fact the report finds that only a $116 billion of the $933 billion in unfunded liabilities "is attributable to the stock market drop precipitated by the 2007 financial crisis."

Teachers pensions were never appropriately funded. States never intended to make good on their promises.

The next bit of editorializing is important:

In other words, there's no escaping the conclusion that politicians were either too generous in bestowing absurd retirement benefits to their valued union constituencies, too susceptible to union arm-twisting, or both. But the problem is structural, and not a temporary blip in the economy.

The government lured teachers to do difficult work with promises of benefits they were never going to pay. Now the government is attempting to whitewash its own illegal and immoral behavior by blaming the victim. The problem, according to the Washington Examiner and the Manhattan Institute, is not that government made promises it never intended to keep. No, the problem is that foolishly generous politicians bowed to the absurd demands of greedy unions.

Now, think about that for a moment. Politicians love to give tax breaks to the rich. They love to give bailouts to criminally negligent banksters. They will get on TV and tell you that this is money well spent stimulating the economy. And few in the mainstream media complain about the greedy wealthy or greedy corporations.

At the same time, corporate lackeys in the news media will claim that education spending is frivolousit is breaking the budget---even though education spending does more to stimulate the economy than tax breaks and corporate welfare. They will attempt to portray public servants, like teachers, as less deserving than Dick Cheneys Halliburton and Morgan Chase ("too big to fail"). Money spent honoring our contractual obligations to public servants can be better spent---as tax breaks for the wealthy.

Why would the corporate media attempt to spoon feed us this horseshit? Because it is the corporate media. It is owned by a handful of extremely wealthy and powerful companies, who, like Blanche Dubois in A Streetcar Named Desire depend upon the kindness of (taxpaying) strangers to keep their corporate jets in the air and their CEO salaries seven digits.

The hunger of the elite for dwindling public funds means that others will have to do without. Teachers are among the most numerous public servants. Contrary to reports from the mainstream media, they are not the most highly paid public servants. Check out this table comparing teachers salaries in 2009 dollars from 1950 to the present. Average pay has gone from $36,000 to $53,000.

Note that the average wage for a registered nurse is closer to $90,000. Why is the corporate media silent when discussing the salaries nurses make? Maybe because nurses are necessary for hospitals and doctors to make even more money. All teachers do is attempt to give every child an opportunity to learn---

And opportunity for all is a suspect goal, at best, in a corporate fascist state like ours.

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  -Teachers Cheated of Their Pensions While Banksters Enjoy Tax Payer Funded Bonuses McCamy Taylor  Jul-26-10 05:14 PM   #0 
  - K&R  DJ13   Jul-26-10 05:18 PM   #1 
  - Believe it, they are doing it. Right out in the open.  madfloridian   Jul-26-10 05:19 PM   #2 
  - Yup.  closeupready   Jul-27-10 01:22 PM   #35 
  - i can. it's been in the works since the DLC took control of the dim party.  KG   Jul-26-10 05:27 PM   #6 
     - Jerry Brown finally got his act together long enoough to put out an ad  truedelphi   Jul-26-10 05:38 PM   #10 
        - brown is not the liberal hero some think he is. & he never was. he's onboard with ed deform &  Hannah Bell   Jul-27-10 01:00 AM   #20 
  - K and R  proud2BlibKansan   Jul-26-10 05:20 PM   #3 
  - k and r  Stuart G   Jul-26-10 05:21 PM   #4 
  - Didnt you get the memo? Teachers will do the stoop labor the illegals used to.  WingDinger   Jul-26-10 05:23 PM   #5 
  - Thank you..  sendero   Jul-26-10 05:30 PM   #7 
  - Where has all this pension money gone?  rucky   Jul-26-10 05:32 PM   #8 
  - the same folks that would manage everyones Social Security funds  onethatcares   Jul-26-10 05:35 PM   #9 
  - Here are some ways that Texas Teachers Retirement Fund has been misused  McCamy Taylor   Jul-26-10 05:40 PM   #11 
  - In many cases it the actuarily appropriate amount was never paid in.  ProgressiveProfessor   Jul-26-10 07:21 PM   #15 
  - It was never there to begin with.  Statistical   Jul-27-10 01:21 AM   #21 
  - Thank to Bush and conservadems they just pass the cost off to the feds  uponit7771   Jul-27-10 02:13 PM   #39 
  - In Illinois it was never there  AngryAmish   Jul-27-10 11:40 AM   #31 
  - They've never put in enough to fund it to actuarial levels.  donco6   Jul-27-10 04:34 PM   #47 
  - i wish i could rec this more than once. it's criminal.  nashville_brook   Jul-26-10 05:55 PM   #12 
  - Truth!  erodriguez   Jul-26-10 05:58 PM   #13 
  - All public pensions are underfunded, have been for years  ProgressiveProfessor   Jul-26-10 07:20 PM   #14 
  - Well said. And it's not just public pensions underfunded  txlibdem   Jul-27-10 07:41 AM   #25 
     - I am no longer a supporter of defined benefit (old style) pensions) for industry or government  ProgressiveProfessor   Jul-27-10 11:29 AM   #29 
        - I agree. The unfunded, underfunded status of pensions makes me not want one even if it were availal  Statistical   Jul-27-10 02:10 PM   #38 
        - What you describe is what FERS is today.  ProgressiveProfessor   Jul-27-10 06:41 PM   #51 
        - Right.  sulphurdunn   Jul-27-10 03:28 PM   #45 
           - I agree but there are those here holding tooth and nail to defined benefit which is not viable  ProgressiveProfessor   Jul-27-10 06:41 PM   #50 
  - Thanks for putting this out there. nt  LWolf   Jul-26-10 07:24 PM   #16 
  - Thank you for posting..this is a disgrace!..There needs to be heads rolling in the Teachers Union  flyarm   Jul-26-10 10:56 PM   #17 
  - Well, now...  chervilant   Jul-26-10 11:22 PM   #18 
  - Absurd retirement benefits.  hay rick   Jul-27-10 12:57 AM   #19 
  - the chart shows the real problem  hfojvt   Jul-27-10 01:23 AM   #22 
  - K & R nt  laughingliberal   Jul-27-10 01:43 AM   #23 
  - terribly sad to renege on pensions for anyone! The 90K average wage  nightrain   Jul-27-10 05:15 AM   #24 
  - Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne Arne  Stinky The Clown   Jul-27-10 07:46 AM   #26 
  - K and R  OwnedByFerrets   Jul-27-10 11:11 AM   #27 
  - Teachers have been the reich's whipping boy forever, but the woodchucks seem to  Greyhound   Jul-27-10 11:19 AM   #28 
  - Absolutely  AngryAmish   Jul-27-10 11:32 AM   #30 
  - One more thing - isn't this out fault?  AngryAmish   Jul-27-10 11:42 AM   #32 
  - Karma's a bitch  MissDeeds   Jul-27-10 12:06 PM   #33 
  - K&R  closeupready   Jul-27-10 01:20 PM   #34 
  - Cannot be said enough too may different too many different places,  BrklynLiberal   Jul-27-10 01:31 PM   #36 
  - Yes. It is.  aquart   Jul-27-10 01:56 PM   #37 
     - And a lot of them call themselves "self employed and proud of it" - they are dishonest cretins.  Leopolds Ghost   Jul-27-10 04:36 PM   #48 
  - What nurses are making close to $90,000??? I never met one, and I certainly  NC_Nurse   Jul-27-10 02:15 PM   #40 
  - My sister is a nurse, and she doesn't make anywhere near that either.  donco6   Jul-27-10 02:22 PM   #41 
     - Yep. WTF?  NC_Nurse   Jul-27-10 02:40 PM   #42 
        - Maybe we live in the wrong place.  donco6   Jul-27-10 02:44 PM   #43 
           - LOL. How do I get there?  NC_Nurse   Jul-27-10 02:49 PM   #44 
  - But but but... Arne Dunkin said...  Fearless   Jul-27-10 04:32 PM   #46 
  - A Plea to All Professional Educators Who Do Care about Learning!  cjbgreen   Jul-27-10 05:19 PM   #49 
  - Better than macain?  Jakes Progress   Jul-27-10 07:50 PM   #52 
  - Kick  Jakes Progress   Jul-28-10 09:19 AM   #53 
  - You've made some great points  MissDeeds   Jul-28-10 12:14 PM   #54 
     - He hasn't represented me for some time.  Jakes Progress   Jul-28-10 06:14 PM   #55 
     - "If he doesn't act as a Democrat, is he really representing us?"  cstanleytech   Jul-29-10 04:39 AM   #57 
        - no and no  cjbgreen   Jul-29-10 02:00 PM   #58 
           - Now where in my post did I say I agreed with that policy hmm?  cstanleytech   Jul-29-10 04:24 PM   #59 
           - +1  MissDeeds   Jul-29-10 04:29 PM   #60 
  - OK, I'll grant ya its wrong of the government  cstanleytech   Jul-29-10 01:44 AM   #56 
     - Teachers  cjbgreen   Jul-30-10 01:49 PM   #61 

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