Thursday, February 17, 2011

Nice Work

I'm quite sure someone qualified would be willing to manage it for a lot less.

DAVID: Well, Dylan, I think this is a very revealing move. You know, Aristotle taught us the tyrants first surround themselves with bodyguards who will go after anybody who challenges what they do. We shouldn’t forget that historical lesson. You know, the pensions they want to go after, they’re not very big in Wisconsin. I just calculated the numbers. The average Wisconsin state employee gets $24,500 a year. That’s not a very big pension. The state pension plan, 15% of the money going into it each year is being paid out to Wall Street to manage the money. That’s a really huge high percentage to pay out to Wall Street to manage the money. And what I think is going on here is this is the state as we began where public employee unions were first by law allowed, and if this governor can break these unions then you’re going to see this happen all across the country and further drive down wages. And if you can drive down wages in the public sector, it means private employers can drive down wages in the private sector.