Mr. Lynch gets to the heart of the matter when he says,
“We end up blindly subsidizing profitable corporations instead of properly compensating ordinary folks who work for us.
It’s disingenuous for politicians (or the Star-Ledger) to speak of pension reform without also discussing the massive tax breaks that created this crisis. If tax cuts for businesses and people who don’t need it were rescinded, there would be plenty of revenue to fund the pensions.”
by Brian T. Lynch, MSW
What follows is a letter I wrote to New Jersey’s principal newspaper, which is constantly trying to convince us that the huge pension deficits created by bad public policy decisions (or perhaps by intentional public union busting strategies) can’t be fixed without dismantling the whole system and starting over. All options to do this create great sacrifices by hard working servants of the people who were promised pensions in exchange for lower lifetime wages than the private sector would be paid for comparable work.
“Taxing the rich won’t solve pension problems” claims the Star-Ledger in its editorial. Their point is that the “millionaire’s tax”…
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