In Las Vegas (Clark County) the average firefighter earns $199,678 per year. When he retires at age 45 or 50, we owe his pension based on that obscene salary. But here’s the clincher –when he finally dies, the taxpayer has to continue paying the pension to his spouse. Add up the damage to the economy. It is catastrophic. Talk about a 1 per center — a single firefighter could retire with $8 to $10 million for not working for the rest of his life.
How did America become broke and insolvent? How did we build up an unimaginable $115 trillion in debt and unfunded liabilities? How did we allow the American Dream to become a nightmare?
All we need do is look at the primary demand the Eurozone and IMF are placing on hopelessly bankrupt Greece to get their new $170 Billion bailout — Greece has agreed to cut 150,000 government employees. Even Cuba’s leader Raul Castro recognizes government employees are at the root of economic destruction, as he is cutting over 2 million of them to save Cuba from bankruptcy.
The truth is that government employees are the true 1%. We have far too many of them (21 million), many of them are paid too much, and their union demands are straining taxpayers to the breaking point.
They have become a privileged class that expects to be treated superior to the taxpayers — the same folks who pay their salaries and pensions. But it is their obscene pensions that are the big problem moving forward for America.
How would you like to retire with $6 million? $8 million? $10 million? All you have to do is become a government employee to hit the jackpot.
You don’t believe me? Do the math.
I recently talked with a retired New York City toll taker. His salary averaged about $70,000 per year over 20 years. But in his last few years he worked loads of overtime and added in accumulated sick days to get his salary in those final years up to $150,000.
His pension is based on his final years’ salary. This is a common pension-padding ploy.
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