Political News and Commentary with the Right Perspective. NAVIGATION
  • Front Page
  • News
  • Multimedia
  • Tags
  • RSS Feed


  • Advertise on RightMichigan.com


    NEWS TIPS!

    Get the RightMighigan.com toolbar!


    RightMichigan.com

    Buzz

    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

    Display: Sort:
    Taxing Pensions (none / 0) (#18)
    by Bruce on Fri Feb 18, 2011 at 04:46:57 PM EST
    As a retiree, I expect that a return of inflation will not only come, but come with a vengeance given the spending spree in Washington.  When I was working, I could count on raises to make up for lost purchasing power... not so much with a pension.  But I could make it work with taxes on the pension even though the pension is not COLA protected and more of it will be needed for medical expenses as I age.

    Of course, what I would expect is something for that money.  It's not just a transfer of wealth thing that bothers me.  It's a transfer of wealth with no accountability, responsibility, or similar sacrifice for those who get a pass on retirement health care benefits and even get state pensions for one state job while getting paid for working in another state job.  I expect a basic philosophical shifting from the way the state presently operates.

    But when you get down to it, I have a choice as do hundreds of thousands [millions?] of other retirees.  It's called Florida... or Texas... or any other state that doesn't screw over the fixed and limited incomes of their seniors.

    Think Michigan has funding problems now?  Wait until the Baby-Boomers put paper to pencil and conclude that they are better off elsewhere.  Those are seniors who put an awful lot of money into the local economy.

    Maybe my home becomes my "summer home" and my residence goes elsewhere.  I like warm winters anyway.

    The solution: eliminate the state income tax and replace it with a higher consumption tax.  Everybody pays and each person determines how much.  If you collect state assistance and use it for a big screen TV, you don't get a tax-free ride.  The state then gets to live on what it gets.

    Display: Sort:

    Login

    Make a new account

    Username:
    Password:
    Tweet along with RightMichigan by
    following us on Twitter HERE!
    create account | faq | search