tag:blogger.com,1999:blog-8817171247555815363.post1484915797466536311..comments2024-03-26T05:57:44.937+00:00Comments on True Economics: 28/12/2011: ECB: New evidence on public-private pay gap: part 1TrueEconomicshttp://www.blogger.com/profile/07350536454228478974noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8817171247555815363.post-50973291922726671792012-01-05T12:52:01.078+00:002012-01-05T12:52:01.078+00:00I appreciate that you are paying a large amount of...I appreciate that you are paying a large amount of taxes. However many of your assumptions are not true. I pay 520.47 in monthly required contributions for pension. Should I not derive some benefit from that?<br /><br />I pay for my own health insurance as well. There are no other benefits offered other than pension. Many multi-national private companies pay for health, dental and all kinds of perks.<br /><br />I agree it is difficult to see some senior public service retirees the last year with big lump sums. But not everyone is a senior public servant.<br /><br />I am not trying to be personal, but I am tired of all the anti-public sector frenzy.<br /><br />I took a huge paycut when I joined the public service in 2006. Though I did receive increases, they've now all been taken away. Should I not be compensated somewhat fairly for 25 years experience and having to pay for my own university education abroad to qualify me in my field? My wages are probably now what they were in the year 2000.<br /><br />I am not a life-long public sector employee. 5 and 1/2 years actually.<br /><br />It is unclear whether my retirement age will be raised to 67.<br /><br />So please don't assume we are all senior public servants with huge pensions. I'm not attacking you personally, but trying to make you better informed to counteract the mis-information against the public sector in the media.Brett Williamsnoreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-10013200092459753092012-01-04T18:33:11.967+00:002012-01-04T18:33:11.967+00:00Well said Constantin.
Unfortunately, human nature...Well said Constantin. <br />Unfortunately, human nature being what it is, no one likes to think they are overpaid. And so many of our government employees have never worked in the private sector and depend only on self serving trade union propaganda for their perspectives. <br /><br />The worst part of this 30%-50% structural premium (taking super gold plated pension benefits into account) is that it allows the ECB to hold Ireland hostage we need their money for current government spending which is given ONLY on condition that we continue to bail out our BANKRUPT private financial institutions to protect German and French private financial institutions they owe money to. <br /><br />We need to declare a national emergency, cut government spending by 30% IMMEDIATELY and tell the ECB where to go. This may seem radical but as Herbert Stein said "If something cannot go on forever, it will stop." so this will happen in the end. Sadly I see so many entrenched vested interests that this may entail much grief.<br />MarkMark Dhttps://www.blogger.com/profile/04576590045944173927noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-10295365714681505112012-01-01T17:03:57.481+00:002012-01-01T17:03:57.481+00:00Well, if you check again the text, there is very l...Well, if you check again the text, there is very little from myself in it. So complaints to ECB, please.<br /><br />But since you decided to go personal, let me make an assumption that you are a public sector employee.<br /><br />If that assumption is correct, then:<br /><br />My earnings were cut 3 times and currently are down about 40% pre-tax on 2007. Part of your 'cuts' was to cover only partially the pension benefits being paid out to public sector workers (which, incidentally, I opposed, since it is not your own pension that these added charges cover).<br /><br />I have no pension guarantee and my own tiny private pension has been taxed with a new levy. <br /><br />Your wages are costing me increasingly more in taxes and, yes, they ARE costing me, despite the fact that you also pay income taxes, because public sector taxes do not cover public sector wages. Your pension is costing me more as well. <br /><br />And no, I do not get comparable services in exchange for what I pay in taxes. I pay for my kids education, I buy my own health insurance, and I pay for all of this in taxes too. I barely drive and I do not use public transport except when I travel around the country, which is on average 1-2 times per month.<br /><br />When you retire - you will have assured future courtesy of your contract and your pension will be well in excess of what you paid in for. I will have no pension and no secured future despite my taxes part-subsidizing your pension (yes, because unlike yourself, I will be forced to work past my 65 years of age). <br /><br />Want to go more personal? <br /><br />Your terms and conditions of employment are well in excess of what I have as my terms and condition of employment.<br /><br />But, hey, let the personal not distract us from the core issue at hand - even the ECB research shows that, objectively, data does not lie - you and your counterparts are earning a nice premium over of similar skills and responsibility working in the private sector. And that is before we factor in pensions.<br /><br />Incidentally, as you can see, even on this blog there is a disparity between private and public sector. Analysis you read here is delivered to you free of charge by me. And yet, as a taxpayer, I have to pay for similar analysis (of much lower quality, often) to be provided by state employees. <br /><br />So let's not get all worked up about this "What's your point?" My point is - change will happen, not because you want it or I call for it, but because the public 'services' we have are bust. Insolvent. And there is no money in the country left to 'repair' them the Croke Park-style.TrueEconomicshttps://www.blogger.com/profile/07350536454228478974noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-78710183568671348632012-01-01T13:08:24.575+00:002012-01-01T13:08:24.575+00:00So em, Constantin. What is your point? To contin...So em, Constantin. What is your point? To continue to whip up the anti-public sector frenzy? My wages were cut twice since 2009, and I pay taxes and am affected by all the budget cuts everyone else has. Give it a rest!Brett Williamsnoreply@blogger.com