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Thread: Detroit Files for Largest Municipal Bankruptcy in US History

  1. #131
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    Re: Detroit emergency manager files bankruptcy

    Quote Originally Posted by MMC View Post
    Heya LD .....yeah a major City is pretty bad. But don't you worry the Democrats in Illinois are pushing for even a Bigger Slice of the Pie. As they want the State of Illinois to file Bankruptcy.
    How is using bankruptcy to overturn union contracts going to win the Dems in Illinois a bigger slice of the pie?

  2. #132
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by rabbitcaebannog View Post
    Yes, and when you look at the cost, pensions actually costs the tax payers less. They benefit from the social security money teachers put into the system but will not collect. They benefit when teachers contribute more to the pension system. The important thing is that these pensions need to be be protected from corruption like any system does.
    Here's a shock. Teachers do not put money into Social Security while they're teaching. If they have another career out of the teacher retirement system and have paid into Social Security for the necessary 40 quarters? They get that, too.

    Taxpayers need to protect themselves from a public sector pension system that's used to buy votes and campaign contributions all the while saddling The Average Joe with a debt he cannot afford.
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    Re: Detroit emergency manager files bankruptcy

    Quote Originally Posted by rabbitcaebannog View Post
    Other countries around the world heavily subsidies their auto industry. They maintain a mix of tariffs and non-tariffs regimes protecting the car industries at significantly higher levels than the US.
    Bull****. The European car market has been free and open for decades. Japan may have limits, but that is about it.
    PeteEU

  4. #134
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    Re: Detroit emergency manager files bankruptcy

    Quote Originally Posted by Hatuey View Post
    ....Which? I'd love to know. These ones?



    The reality is a simple one. If a state is getting bailed out, the money will come from rich blue states.
    Your cute little chart is way off. California is irreversibly bankrupt already. They're using their Amex card to pay the Visa bill, which is maxed out from paying the MasterCard bill.

  5. #135
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by LowDown View Post
    What's especially stupid is this "us vs them" mentality with regard to the corporations and the people. What kind of loser isn't connected in some way with corporations in terms of his savings, investments, employment, corporate taxation, or his needs for goods and services? Corporations are the people, or a big part of them.
    Yes, corporations were a large part of employees health as far as all you mentioned except over time risks that corporations use to take on now have been shifted to the employers so it's not the same company your grandfather worked for years ago. Now corporations not only want to shift risks to workers but also want to pocket bigger profits by not paying taxes, setting up subsidiaries to shelter money from a country, use social safety nets to their benefit and the list goes on. People just want to have some kind of checks and balance in place because it doesn't exist like it once did. Model legislation is now being used by such groups as ALEC to give them more power to do as they please with less oversight.

  6. #136
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by rabbitcaebannog View Post
    Oh, I've participated and contributed to social security my entire life. I started working at 16 and entered the teaching field at 25 and have held a second job my entire working history.

    Also, did I mention as a survivor I will only be able to collect one third of my husbands social security.
    I understand that but as I stated there are a lot of states that do not have their public employees participating in SS and offer their own pension program. SS was established as a retirement supplement not sole retirement benefits.

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by Hicup View Post
    I dunno, if I were an aspiring politician, no matter where I was running for office, I'd make a documentary (not too long winded but just enough for the ill-informed voter to grab a clue) of Detroit, and show people everywhere what happens when liberalism is left untouched. I'd point to it, and say "see.. Damit, see".. Detroit is a gift to conservative politicians. The people of Detroit can't blame ANYONE other than themselves. Republicans', the GOP have nothing to do with what happened in Detroit. Can't blame Bush, can't blame a single republican for that turd! Only Democrats are to blame, and they OWN it incontrovertibly.


    Tim-
    yeah.... sure .... whatever ..... it was the favorite whipping boy of the far right - LIBERALISM.

    The fact that 0ver 60% of the population shifted to the suburbs - had nothing to do with it.
    The fact that the Big Three auto companies shut down many plants in the city - had nothing to do with it.
    The fact that other ancillary businesses then moved also following the Big Three - had nothing to do with it.
    The fact that the riots happened driving out massive numbers of middle class people - had nothing to do with it.
    The fact that the tax base was radically decreased year after year after year - had nothing to do with it.
    The fact that the state legislature passed laws agreeing to pay Detroit certain revenue sharing money and then reneged on the deal - had nothing to do with it.

    Its liberalism don't you know.
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by MaggieD View Post
    Here's a shock. Teachers do not put money into Social Security while they're teaching. If they have another career out of the teacher retirement system and have paid into Social Security for the necessary 40 quarters? They get that, too.

    Taxpayers need to protect themselves from a public sector pension system that's used to buy votes and campaign contributions all the while saddling The Average Joe with a debt he cannot afford.
    Maggie - I taught for 33 years. I paid into SS all that time.
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  9. #139
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by MaggieD View Post
    Here's a shock. Teachers do not put money into Social Security while they're teaching. If they have another career out of the teacher retirement system and have paid into Social Security for the necessary 40 quarters? They get that, too.

    Taxpayers need to protect themselves from a public sector pension system that's used to buy votes and campaign contributions all the while saddling The Average Joe with a debt he cannot afford.
    No, but I do get to chose which system I get to collect from even though I've contributed quite a bit over my life time to both systems. I may collect less than 10% on my social security though. Pension systems are less expensive than setting up 401K systems for public workers.

  10. #140
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    Re: Detroit emergency manager files bankruptcy

    Quote Originally Posted by PeteEU View Post
    Bull****. The European car market has been free and open for decades. Japan may have limits, but that is about it.
    Is that suppose to be a joke!

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