Originally Posted By: Hankster
Originally Posted By: McMahon
Not to mention the state workers' pensions situation is, well, fine.


Yep..it's just right as rain... rofl

According to the Pew Foundation, Wisconsin has the fourth-largest unfunded pension liability per resident. The unfunded pension liabilities are over $77 billion.

· According to the Tax Foundation, for the past three decades Wisconsin’s state and local tax burden has consistently ranked among the nation’s highest. The state and local tax burden (as a percentage of income) currently ranks ninth nationally.

· It would take a 326 percent increase in the current $4,194 taxpayer burden per capita to eliminate the $13,690 unfunded liability per resident — making the overall tax burden 41.3 percent of income.

· Alternatively, to immediately close the shortfall would require raising the sales tax from 5 percent to 99.8 percent!

Of course, not all the current shortfall would need to be eliminated in the first year. But unless future growth in the shortfall is eliminated, no feasible plan for controlling the state budget can emerge.


Once again, you don't give the whole story. The $77 billion you speak of is 99.67% funded, putting it in the top 4 highest funded liabilities in the country, so your whole debunking of what I said is officially debunked. All but $252,600 is unfunded... out of $77 billion.

From the same Pew PDF you attempt to reference (these are bulleted points, not cherry-picked Hank-style "facts"):

"Some states are doing a far better job than others of managing this bill coming due. States such as Florida, Idaho, New York, North Carolina and Wisconsin all entered the current recession with fully funded pensions."

"In 2000, slightly more than half the states had fully funded pension systems. By 2006, that number had shrunk to six states. By 2008, only four—Florida, New York, Washington and Wisconsin—could make that claim."

This is not bulleted, but not taken out of context, Hank-style:

"Nine states earned the designation of being solid performers: Alaska, Arizona, Colorado, Kentucky, North Dakota, Ohio, Oregon, Virginia and Wisconsin."

On the other hand, the non-pension benefits receive an F, being only 24% funded.