100 cents of every dollar for WI state workers' pensions paid for by the state workers themselves
Which make Walker (and his enablers in our famously free press and in both legacy parties) nothing but common thieves. Quelle surprise. David Cay Johnston:
Out of every dollar that funds Wisconsin' s pension and health insurance plans for state workers, 100 cents comes from the state workers.
How can that be? Because the "contributions" consist of money that employees chose to take as deferred wages – as pensions when they retire – rather than take immediately in cash. The same is true with the health care plan. If this were not so a serious crime would be taking place, the gift of public funds rather than payment for services.
Thus, state workers are not being asked to simply "contribute more" to Wisconsin' s retirement system (or as the argument goes, "pay their fair share" of retirement costs as do employees in Wisconsin' s private sector who still have pensions and health insurance). They are being asked to accept a cut in their salaries so that the state of Wisconsin can use the money to fill the hole left by tax cuts and reduced audits of corporations in Wisconsin.
It's exactly the same scam that Pete Peterson and Obama are running with the Cat Food Commission at the national level, but just more crude, as befits Rs at the state level: They are stealing money, from us, that we have already paid into the system.
NOTE What the elite believe: All your money are belong to us. If there's a pile of money lying around somewhere, our elite is going to loot it. That's why they do; that's what they are paid to do, and are promoted for doing. That, and lying about it. Via DU.