Monkeyleg
May 7, 2003, 12:06 AM
Those who have read my posts here on THR and back on TFL know that I'm not a kook (or let's hope I didn't come across as one).
Last year the Milwaukee County government made front-page news for months concerning sweetheart deals in the pension plan that gave the top elected officials millions of dollars upon retirement.
For most cities, this story would have been buried on the seventh page of the seventh section of the seventh-ranked paper. This being Milwaukee, though, it garnered enough attention to have some officials recalled.
Lost in all the hoopla was a story that reported that the county employees' pension fund would be short $20 million for last year. It seems the pension board was assuming a 10% return on the fund through the stock market.
Wouldn't we all like 10% return, especially in a bear market?
What was bigger news to me was that the county expected me and the rest of the taxpayers to make up for their mistaken clairvoyance.
An angry call from me to my county supervisor resulted in the following promise: the pension fund mess would resolve itself in less than three months, without an increase in taxes, and my county supervisor would call me to let me know when that alignment of the stars had occurred.
He never called back.
A couple of days ago, the local papers reported that--surprise!--the state government had been running its pension fund in much the same fashion, and has suffered similar losses.
Once again, the government powers-that-be expect the taxpayers to make up the difference between the Dream Returns promised by the pension boards and the realities of the markets since 2000.
Like most people who don't work for the government, my retirement funds have been slaughtered in the last two years.
Wisconsin ranks in the top five states with the highest taxation.
I dearly want to put more money into my retirement funds, but the county and state governments seem determined to force me to pay for their retirees' comfort before I can even begin considering my own Golden Years.
It's now reached the point where I'm giving very serious thought to refusing to pay my taxes, at least that portion that I know is going to prop up the pension boards' stupidty.
If the state of Wisconsin is willing to give me a FULL credit to offset my taxes equivalent to the amount my IRA's have lost since 2000, I'll reciprocate by paying "my fair share" of the state worker's pension losses. If not, they can kiss my skinny white behind and I'll await their visit.
So, to THR members I have two questions: would you ever consider refusing to pay taxes, and how long do you think it will be before they shoot me?
Last year the Milwaukee County government made front-page news for months concerning sweetheart deals in the pension plan that gave the top elected officials millions of dollars upon retirement.
For most cities, this story would have been buried on the seventh page of the seventh section of the seventh-ranked paper. This being Milwaukee, though, it garnered enough attention to have some officials recalled.
Lost in all the hoopla was a story that reported that the county employees' pension fund would be short $20 million for last year. It seems the pension board was assuming a 10% return on the fund through the stock market.
Wouldn't we all like 10% return, especially in a bear market?
What was bigger news to me was that the county expected me and the rest of the taxpayers to make up for their mistaken clairvoyance.
An angry call from me to my county supervisor resulted in the following promise: the pension fund mess would resolve itself in less than three months, without an increase in taxes, and my county supervisor would call me to let me know when that alignment of the stars had occurred.
He never called back.
A couple of days ago, the local papers reported that--surprise!--the state government had been running its pension fund in much the same fashion, and has suffered similar losses.
Once again, the government powers-that-be expect the taxpayers to make up the difference between the Dream Returns promised by the pension boards and the realities of the markets since 2000.
Like most people who don't work for the government, my retirement funds have been slaughtered in the last two years.
Wisconsin ranks in the top five states with the highest taxation.
I dearly want to put more money into my retirement funds, but the county and state governments seem determined to force me to pay for their retirees' comfort before I can even begin considering my own Golden Years.
It's now reached the point where I'm giving very serious thought to refusing to pay my taxes, at least that portion that I know is going to prop up the pension boards' stupidty.
If the state of Wisconsin is willing to give me a FULL credit to offset my taxes equivalent to the amount my IRA's have lost since 2000, I'll reciprocate by paying "my fair share" of the state worker's pension losses. If not, they can kiss my skinny white behind and I'll await their visit.
So, to THR members I have two questions: would you ever consider refusing to pay taxes, and how long do you think it will be before they shoot me?