Imagine you’re on a ship…let’s call it the…I dunno…Titanic. That says “strength,” right?
So, you’re on the Titanic and suddenly, it strikes a…um…let’s say a…an iceberg, okay?
The Titanic you’re sailing on hits an iceberg and begins to sink. You suddenly hear over the loudspeaker, “Attention, passengers. This is your captain. We have hit an iceberg and we are taking on water at an incredible rate and will most likely sink within the next two hours. If all the passengers and crew would kindly make their way down below, into the hull near the bulkheads and begin bailing, it would be greatly appreciated. If all goes well, we will most likely be able to resume our voyage across the vast, freezing Atlantic in a short while. Thank you!”
Now, do those words (in any universe) sound feasible? What I mean to say is, if the real Titanic was to have had all the members of its crew and passengers, right down to the captain himself, go down below to bail, might the ship have been saved?
Of course, the answer is, “Not a chance.” Knowing the enormity of the problem (massive sinking ship in the middle of the Atlantic), no sane person would ever suggest the very stupid and irrelevant action of bailing out the ship.
Why then is the Kentucky state government suggesting that its taxpayers (passengers and crew) bail out the sinking Titanic (underfunded and overfed teachers pensions)?
Read on the next page how the state is asking its taxpayers to pick up a $3.2K per year, per household tab in order to shore up a lucrative teachers union Ponzi scheme that has nearly bankrupted the state!NEXT PAGE »
I don’t think so amen sounds like a scam to me amen
Hell NO
Myron Schippers A board, appointed by the Governor, that answers to the state legislature screwed the investments up, not the teachers. In fact there a lawsuit currently filed that is going after these people who unlawfully placed their money in risky hedge funds.
Steve Fagan 1. This is the teacher retirement system of Kentucky. It’s the only option they have as teachers in regards to where their retirement money goes. Just like many of us do, they pay a percentage of their paychecks into the plan and their employer(district & state) pay a match. They can open up other accounts such as Roth IRA, etc; however, that’s money outside their retirement fund money. With what teachers make in this state that will be very little money to begin, nothing more than supplemental to their pension. They cannot, by Federal law draw Social Security.
Ronald Ronald then good luck with the lawsuit but the taxpayers owe the pension fund NOTHING.
I can’t go to the teachers union for money when I screw up and overspend my budget. Sorry your future belongs to you so it is solely up to you to protect yourself and your own future. The well is dry. The taxpayers are broke. They are struggling for their own survival.
Steve Fagan 2. There are only two districts in this state that I’m aware of being actually unionized. What exists are a couple of associations that lobby and provide legal representation on behalf of schools and teachers, however, no one is forced to join these organizations.
Gerald Hamer Jr. I live here. Teachers have made no such demand.
And yes, it is your problem, if you live here.
No it’s not Ronald Ronald even if I do or don’t live there. The teachers retirement issue is the responsibility of the individual not the community. Period. And even if I did live there I would not pay one red cent to there retirement. There retirement fund is not my concern. Even if that was the issue here were I live I would not be forced into paying for teachers retirement fund period. Not my problem.
Seize all his assets….