While your retirement investments implode in what is shaping up to be the worst economic downturn since the Great Depression, city bureaucrats expect YOU to pay higher taxes in order to save their multi-million dollar pensions.
Over the years tens of millions of dollars that should have gone for roads, infrastructure and other necessities has been siphoned off to CalPERS in a futile attempt to fund ridiculous and unaffordable pensions.
Recently the city experienced a surplus in excess of $3 million. What did they do with the money? They didn’t spend a penny of it on the roads and instead shipped $400,000 of it off to CalPERS for pensions. (See https://chicotaxpayers.com/2020/03/15/time-for-true-pension-reform/ ) This is ON TOP of the money they already sent to CalPERS for the fiscal year!
In today’s ER city bureaucrat Constantin says the tax increase is “absolutely needed.” From the ER:
It’s likely, Constantin believes, that the city’s “most substantial needs” would be addressed.
It’s likely? He believes? Those are weasel words, folks. The ER goes on:
And yes, said Constantin, it could be used for pensions.
Hah! Ya think? OF COURSE IT WILL BE USED FOR PENSIONS!
If you want to read the rest of Constantin’s drivel you can read it here
If voters are stupid enough to pass this tax increase it will only enable them to continue what they’ve been doing for many years.
You may never be able to afford to retire but the city council and Constantin believe you should pay MORE TAXES so city bureaucrats can retire as multi-millionaires! ARE YOU GOING TO LET THEM GET AWAY WITH THAT?
LET THE CITY COUNCIL KNOW YOU WILL NOT PASS THEIR SALES TAX INCREASE AND DEMAND THEY REFORM THE PENSIONS!