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Thursday, July 13, 2017

Post #3286 M

Quote of the Day

Every profession is a conspiracy against the laity 
George Bernard Shaw  

Tweet of the Day














Game of Thrones, Libertarian Edition




The Opportunity For Interns




Illinois Parasite

Okay, I'm going on a rant here. Let's first point out that most of us pay 12.2% of our income in social security taxes.(plus another 2.9% in Medicare). Technically speaking, employers pay half of that, but in reality the employer pays us compensation, benefits of which are a part. There are nuances, e.g., Social Security tax is capped in the lower $100K's, not for Medicare. If you look at IL, the median pension is over $52,000. (Now Illinois for its education system does not participate in the social security system, but let's point out that the maximum benefit for retiring at the full retirement age (just past 66) is roughly $32K--and one isn't even eligible by the late 50's when this teacher starts her retirement. $52K is 5.2% of $1M. Most long-term teachers will essentially get $1M+ pension plans in early retirement. Illinois pension funds are just unbelievably underfunded. 15 years ago, retirement costs may have been 6% of the budget; you have some entities now facing around 25% of their budget. Pension is not a "taking" from teachers. What happened is past legislators unconscionably transferred their fair costs to future taxpayers. Not only that--but many teachers who leave the state before minimum vesting get nothing towards their own retirement. I personally have not had vested employer contributions because of vesting schedules (of course, one is always vested in his own contributions/investment gains). I've built up a reasonable retirement nest egg over the years, but it's grown mostly due to prudent investments.



Social Conservatism and Blacks




Entrepreneurship




Do Airlines Charge Too Much?

I will say some of the pricing is weird. For instance, while I lived in Arizona, I found a round trip to San Antonio was costing about what it had cost to fly to much further northern Florida (roughly around $600), although my former supervisor, who also has family in the area,  did say that he found a Phoenix RT for roughly half that.




Choose Life










Political Cartoon


Courtesy of Steve Kelley via Townhall


Musical Interlude: My Favorite Vocalists


Neil Diamond, "Pretty Amazing Grace". We close the Neil Diamond retrospective with one of my all-time favorite Diamond hits, one I've personally sung dozens of times, although it only barely touched the A/C charts.