Posts tagged "tax increase"
An often-stated goal of public employee pension systems is to achieve fully funded pension systems in 30 years. In a newly released paper with Robert Novy-Marx, covered in a New York Times article, we calculate the increase in contributions that will need to be devoted to these funds on an annual basis to achieve this goal, starting with... Read more »
Some scary things are happening in Springfield. The governor is considering borrowing $15 billion. Lawmakers are talking about borrowing $3.7 billion for pensions. And everyone is talking about increasing the personal income tax from 3 to 5 percent. Responsible legislators in both parties should just say “no” to the tax-increase and bond proposals. They should... Read more »