Proposed new gas tax

[RIJIMMY]

Originally Posted by tattoobob

What we need is an "out of state workers tax" they should pay to work in our state. they should put toll booths at the boarder of every state.
If they are going to benefit by coming to our state for work then they need to pay.

They do pay Bob, I work in RI, live in MA and 90% of my taxes go to RI.
MA gets a small percentage of my tax. I am sure the same applies to those that work in MA and live outside the state.

[fishbones]

Originally Posted by RIJIMMY

They do pay Bob, I work in RI, live in MA and 90% of my taxes go to RI.
MA gets a small percentage of my tax. I am sure the same applies to those that work in MA and live outside the state.

I'm in the same boat as you, Jimmy. But I wouldn't say that Mass gets a "small amount of my tax". Mass gets it's share and RI gets its share. It's called a "piggy back" or reciprocal tax. I have payroll take out extra each week so I don't get killed at tax time. I learned the hard way a couple of years ago. I guess if Mass raises the gas tax, I'll buy all of my gas in RI and feel like I'm making out a little.

[Mike P]

Originally Posted by RIJIMMY

They do pay Bob, I work in RI, live in MA and 90% of my taxes go to RI.
MA gets a small percentage of my tax. I am sure the same applies to those that work in MA and live outside the state.

So you pay virtually nothing here but think I shouldn't get a pension.

Up yours.

[Clogston29]

if you work in ma, you pay ma income tax

if you live in ma but work in another state, you pay ma the difference between ma tax and the other state's tax if that states tax is less tha ma. so if you live in ma and work in nh (no income tax) you pay full ma income tax on the income you earn in nh.

[sokinwet]

Hey Spence - Not UFC or boxing...more like one of those Bruce Lee movies where all the thugs circle around and attack one at a time and....well I guess you've probably seen the movies!

[RIJIMMY]

Originally Posted by Mike P

So you pay virtually nothing here but think I shouldn't get a pension.

Up yours.

I suggested that one potential solution to save INCREASES in taxes was to look at the pension system for public employees. The pension system costs taxpayers 1.7 Billion per year and is a benefit most employees do not get.

I guess I'm crazy, lets increase the gas tax by .27 cents. That will bascially eat up any "stimulus" people receive from Obama and will further drive those in need, further in the hole. Silly of me to think there was a solution other than raising taxes!

[sokinwet]

Jimmy -I used to respect your opinions but it's pretty obvious that shooting from the hip is your MO lately (like since the election). Like most of the other anti gov't employee blowhards you have no clue on what the MA state pension system is all about or how it functions. As Mike P. pointed out we don't get SS benefits if we didn't pay "enough" into it from a previous job and the 10 yr. vesting requirement is correct ; but it's a little different than what he stated. Here it is in a nutshell in case you might actually want to know before your next rant. There are different classifications for employees and these classifications determine at what age you can retire. Here's the formula for "regular" gov. employees: (police and fire have different age of retirement criteria) length of service x age multiplier x avg. of three highest earning years. There is no 20 or 30 yrs. and out provision. If you retire @ 55 your multiplier is .015..increases to .016 at 56 and goes to a max. of .025 at 65. Currently most state and municipal employees pay 9% of salary into the PENSION FUND; some like me pay at the level at the time they entered the system. I've been working for municipal gov. for 32 yrs. so I pay 7%. Max. pension is 80% of your annual salary. You don't pay a friggin thing towards my retirement it comes from the Pension fund...and as a matter a fact because I did pay into SS but don't have enough quarters to get any SS upon retirement I hope you don't get any...because just like you I don't like the idea of my $$ going to pay for someone else...hope your 401k doesn't go belly up.

[RIJIMMY]

Originally Posted by sokinwet

Jimmy -I used to respect your opinions but it's pretty obvious that shooting from the hip is your MO lately (like since the election). Like most of the other anti gov't employee blowhards you have no clue on what the MA state pension system is all about or how it functions. As Mike P. pointed out we don't get SS benefits if we didn't pay "enough" into it from a previous job and the 10 yr. vesting requirement is correct ; but it's a little different than what he stated. Here it is in a nutshell in case you might actually want to know before your next rant. There are different classifications for employees and these classifications determine at what age you can retire. Here's the formula for "regular" gov. employees: (police and fire have different age of retirement criteria) length of service x age multiplier x avg. of three highest earning years. There is no 20 or 30 yrs. and out provision. If you retire @ 55 your multiplier is .015..increases to .016 at 56 and goes to a max. of .025 at 65. Currently most state and municipal employees pay 9% of salary into the PENSION FUND; some like me pay at the level at the time they entered the system. I've been working for municipal gov. for 32 yrs. so I pay 7%. Max. pension is 80% of your annual salary. You don't pay a friggin thing towards my retirement it comes from the Pension fund...and as a matter a fact because I did pay into SS but don't have enough quarters to get any SS upon retirement I hope you don't get any...because just like you I don't like the idea of my $$ going to pay for someone else...hope your 401k doesn't go belly up.

That is funny, because I have been in the Pension industry for close to 15 years and I have presented at least a dozen times to many different facets of the MA state pensions. So like it or not, you've paid blowhards like me to get in front of your boards to discuss investments that they have YOUR money in. funny huh?
So just curious, you pay in 7% and you're guaranteed 80% of your salary when you retire. Thats quite an investment! Do you think all that money comes from magical money fairies? What if the pension fun tanks (btw, its tanked! they invest it in stocks, bonds etc), do you still get your 80%? Yes! The money fairies (also known as taxpayers) pay it for you! Your pension is FUNDED and you also pay into it.
Dont get me wrong, I would give my left nut (literally) to pay 7% of my salary and have 80% when I retire. But unfortunaley I and most other workers no longer have that benefit and never will. So as states need to cut money, why not make state workers EQUAL to other industries? You dont lose your $, the state cashes you out, as if you retired today, and then sets up a 401k or other plan which employees fund? I agree it sucks, but it also sucks that people taxpayers fund get better benefits than themselves.

[RIJIMMY]

I've had lunch with Stan a few times....

http://www.projo.com/massachusetts/c...0.38fdbdf.html

And as far as this "shoot from the hip" crap lately about my posting. I have been BATTERED for years out here defending my beliefs and sometimes unfortunaley defending our previous president. Now its YOUR turn. I promise, I will use FACTS when I shoot from the hip. Unlike most of the BS spouted by liberals.

[sokinwet]

Jimmy -- Since I have a vested interest I'm quite aware of the losses to the fund, its current value and the ramifications of unfunded pension liabilities. I'm also aware that the pension fund has earned well above the norm until the current plunge. Despite what you say the pension fund is not currently using "taxpayers" money to pay current pensioners. Could there be a problem in the future...sure..there could also be a return to the 15% earnings of "06". I'm willing to bet "Stan & Tim" are correct in their assumptions about the long term health of the system. Maybe you can ask Stan next time you "do lunch". So I guess I'm supposed to cash out my 32 yrs. of investment in the pension system, forget about any interest my money has earned and just return that money to Joe taxpayer...and of course you'll do the same with any investment earnings you have just to be fair?
Perhaps you should give your left nut..or maybe you should have considered working for the public sector, for far less than what you could have earned in the private sector, because the retirement plan provided a decent living that would allow you to retire and fish & hunt before you're too old to enjoy it.
PS Don't remember too much "battering" of republicans here until recently...just Spence taking it on the chin day in and day out.
And ...
"I will use FACTS when I shoot from the hip. Unlike most of the BS spouted by liberals." What hip was that shot from?

[spence]

A few comments...

If pension funds are Federally insured then they are in trouble. So many big company pensions have gone under that the system to protect them is nearly broke.

I only have a small pension with a former employer, and nearly all of my 401K, which is the bulk of my retirement savings has been seriously beaten down in the past 6 months. All things considered I think I'm in good shape though.

I don't believe SS is dead and I do expect to get benefits when I retire, and that's a few decades off mind you. I'm well aware of the issues but there's time to correct.

Not sure what Sokinwet means by "taking it on the chin"...like a boxing match or UFC match, most blows don't really land and don't score points. In fact, I've yet to see someone really connect

-spence

[fishbones]

Hey Spence,
I think he means that you are a lonely liberal being picked on by all of us mean conservatives. But you usually hold your own. You also do a pretty good job of defending yourself from all of us nasty, Fox news watching evil doers.