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Started By
Message
re: Time to end state tax free treatment of government employee retirements
Posted on 11/29/16 at 3:08 pm to LSURussian
Posted on 11/29/16 at 3:08 pm to LSURussian
quote:
quote: So, people's income, that comes from state taxes, should be susceptible to a state tax? Yes. Just because you're a leach on society it doesn't mean you shouldn't pay taxes like the rest of us.
Wow. But why not just reduce the pensions and cut out all the theatrics? Or why not eleminate taxes on all pensions?
This post was edited on 11/29/16 at 3:09 pm
0
Posted on 11/29/16 at 3:14 pm to I B Freeman
Federal retirement is taxed in all but about 8 states. It is subject to federal tax.
Posted on 11/29/16 at 3:15 pm to WildTchoupitoulas
quote:
So, people's income, that comes from state taxes, should be susceptible to a state tax?
You are better than this. So by your logic, state employees should not pay state income tax? This is just dumb.
quote:Personally I agree. BUT, taxes change all the time, every year. If I open a business but then state government decides to hike taxes on business, is that fair?
First, these people signed up for this years ago. It would be wrong to change the rules for them at the end.
quote:
Second, if they went up on taxes, they would just go up on the income through COLAs.
Huh?
Posted on 11/29/16 at 3:15 pm to Wally Sparks
quote:
In Georgia, state employee pensions are taxed and we pay into SS.
I am a federal retiree and my wife is a State retiree, here in Florida, we pay taxes and paid SS. And of course pay taxes on our retirement incomes.
Posted on 11/29/16 at 3:19 pm to Mo Jeaux
quote:
Yes
Why not just pay them less and save on red tape?
Oh wait, we already DO that.
If I told you I'd pay you $120 to mow my lawn, but that I'd have to take $20 back, are you making $120 to mow the lawn? Wouldn't you just ask, "Why don't you just give me the $100?"
A rational person would.
Posted on 11/29/16 at 3:19 pm to I B Freeman
quote:
The rest of the taxpayers are being screwed---not the state employees.
I suspect not 1% of the Louisiana population working in the private sector has defined benefit plans as lucrative relative to salary as a state employee.
Instead of beating the drum to eliminate defined benefit plans for government employees maybe you should give some thought to figuring out how to extend them once again to the private sector. They were common at one time until the unions were emasculated in the last 50 years by right-to-work laws in the south.
You have a long history on this board and others of concerning yourself with the possibility that someone else is getting more than his share of the pie. Now you propose to reduce the net income of the most vulnerable among us, those whose working life is over and who depend on what is basically a fixed income that shrinks through inflation year after year. Let me tell you that the retirees won't go down withour a fight and they've got a strong case in the Louisiana consitution which prohibits the reduction of salaries and benefits for retirees.
Posted on 11/29/16 at 3:24 pm to LSURussian
quote:
Just because you're a leech on society it doesn't mean you shouldn't pay taxes like the rest of us.
Dude, the money IS taxes. You'd give them some and then take some back? Why not just skip a step and give them the net and call it even?
If you just look at is as a compensation package, you'd see how ridiculous your idea is. They still get taxed on everything else like everyone else.
But yeah, those damned civil servants are getting rich off our hard earnings! Soak the civil servants, that's where all the money is!!!1!
Posted on 11/29/16 at 3:31 pm to BigJim
quote:
So by your logic, state employees should not pay state income tax?
You're wrong, they often have other income that's not financed from tax revenues.
But ultimately, why should the state open their cash box and pay a worker $120 dollars and say, "But you're going to have to give $20 right back." Why not just give them the $100 in the first place?
I swear, it's like all of you are paper pushing loving state workers.
quote:
Huh?
If they suddenly required state retirees to pay state income tax, many of them would get pushed below the poverty line. This would be corrected by having a cost of living increaser to get them out of poverty.
I'm not sure where this idea that state retirees are some kind of moneyed class, they're generally near the poverty line. Why do you want to soak a bunch of retired secretaries, janitors and lunch ladies for what little retirement they have?
God forbid we try to get income tax from real estate moguls.
Posted on 11/29/16 at 3:59 pm to I B Freeman
quote:
federal government employees get tax free retirement income
Nope.
Posted on 11/29/16 at 4:02 pm to BigJim
quote:
1. Retirees don't need to be in the workforce to contribute to the economy since they have savings/pensions/SS. They dump money into the economy but don't take a job from citizen.
Most retirees that have enough money to make a difference, spend most of that money traveling. So I don't think the local economy, much less the tax base, is getting the juice out of this.
I really, REALLY hate to do this on an IB Freeman thread, but this is pretty close to a film tax credit debate. There is no doubt that having the film credit benefits the state economy, but is it worth it considering the loss to the treasury? Same here. No doubt these people spend money, but considering they don't pay income taxes and their property taxes are frozen, are they paying more in taxes than they are getting in services?
quote:
2. Retirees have medicare (and eventually medicaid). So states with a lot of older people are essentially getting their medical systems subsidized relative to other states by these federal programs
Wait every doctor I know tells me that reimbursement for Medicare/Medicaid is less than cost.
Posted on 11/29/16 at 4:47 pm to Sid in Lakeshore
Yep
Louisiana state income taxes on Federal pensions
As you can read it is not taxed. So the retired mailman does not pay Louisiana income taxes on his pension either.
Louisiana state income taxes on Federal pensions
As you can read it is not taxed. So the retired mailman does not pay Louisiana income taxes on his pension either.
This post was edited on 11/29/16 at 6:33 pm
Posted on 11/29/16 at 5:06 pm to WildTchoupitoulas
quote:
You're wrong, they often have other income that's not financed from tax revenues.
But for the salary they earn from being a state worker, you think they should not pay income tax??? You know 'cause paperwork.
Posted on 11/29/16 at 5:07 pm to Layabout
quote:
Instead of beating the drum to eliminate defined benefit plans for government employees maybe you should give some thought to figuring out how to extend them once again to the private sector. They were common at one time until the unions were emasculated in the last 50 years by right-to-work laws in the south.
Defined benefit plans broke many companies including GM. Union administrators took millions from them--legally I might add--and screwed their working members.
Why would anyone but a union thug be against right to work laws? Why should any worker be forced to pay money to a third party to work????
quote:
You have a long history on this board and others of concerning yourself with the possibility that someone else is getting more than his share of the pie.
Yes and I am very proud of it.
Of course I would prefer that nobody pay state income tax BUT I suspect you disagree with that since you wish to burden privately employed people with decades of retirement pensions of the government employed.
quote:
Now you propose to reduce the net income of the most vulnerable among us, those whose working life is over and who depend on what is basically a fixed income that shrinks through inflation year after year.
Most vulnerable my arse. These state employees in education that get $100k and $250k and more in drop payments tax free are far from vulnerable. The number of state employees making 6 figure salaries have sky rocketed and so have our pension obligations to them.
The low paid state employees should have the benefits of social security and we should pay into SS and reduce their state pensions benefits.
The idea that a low paid government worker should be able to retire at 50 or 55 while his privately employed counterpart has to wait to 63 or 65 is just ridiculous.
This post was edited on 11/29/16 at 5:10 pm
Posted on 11/29/16 at 5:10 pm to LSUFanHouston
quote:
Wait every doctor I know tells me that reimbursement for Medicare/Medicaid is less than cost.
Generally that is more Medicaid, HOWEVER for long-term care Medicaid is really the only game in town, minus a few wealthy folks who private pay.
Put another way. You think all those doctors in Florida are upset about the snowbirds moving down?
Posted on 11/29/16 at 6:00 pm to I B Freeman
Any government worker should not be entitled to any benefit that private workers do not get.
This is not debatable and should be outlawed.
This is not debatable and should be outlawed.
Posted on 12/1/16 at 5:42 am to I B Freeman
quote:
Most vulnerable my arse. These state employees in education that get $100k and $250k and more in drop payments tax free are far from vulnerable. The number of state employees making 6 figure salaries have sky rocketed and so have our pension obligations to them.
The average retirement benefit for the 43,000 retirees covered by LASERS is the princely sum of $24,000 a year and any social security they've earned is reduced by the government pension offset. They're really in high cotton, aren't they!
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