- Aug 1, 2004
- 70,049
- 24,223
http://www.forbes.com/sites/patrick...rnias-ticking-pension-time-bomb/#36feccae5a9c
California would turn into Greece da minute that happens.
California taxpayers have been financially supporting the Deep South and Appalachia for decades now. For every dollar we pay in Federal taxes, we get back 75 cents. If we could keep our tax payments within California we could fully fund our pension obligations and we could increase our funding for k-12 and our World beating higher education system.
Remember that an affordable education and a well paid and professional public work force is the back bone of a stable and prosperous middle class not your flash in the pan energy booms and 19th century labor and environmental regulations.
doubt California can handle that pension bomb without being wired some Fed money, and that exodus of money is something that will double once da rest of da tax cuts go into place January for da rest of da country.
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