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"Money Monday"
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fanfrompowellspub Offline
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Post: #161
RE: "Money Monday"
(07-17-2021 11:00 PM)masttg Wrote:  
(07-17-2021 06:41 PM)Jerry Weaver Wrote:  
(07-14-2021 04:39 AM)emu79 Wrote:  Michigan tax revenues continue to exceed expectations:

https://www.senate.michigan.gov/sfa/Publ...Recent.pdf

K-12 school funding for 10/1/21-9/30/21 is complete. They have not finalized college and university funding-yet.

The Governor wants to use $250 million in federal stimulus money to upgrade the State park system.

I know you might disagree, but the State park system often provides the Gov to pose next to an attractive new project while posing with a shovel or cutting a ribbon.

That said, folks around Detroit are drowning in water because of neglect in our existing flood water systems. It just ain't sexy when you pose next to a pump upgrade or a more effective underground pipe system.

Expanding the park system around Detroit could create wetlands would lessen future flooding. I kid. Nobody will do anything that forward thinking.

We had wetlands. we built houses on all of them in every direction. State government is about as a good as a solar powered flash light.
07-28-2021 11:53 AM
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dansplaining Offline
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Post: #162
RE: "Money Monday"
(07-28-2021 11:53 AM)fanfrompowellspub Wrote:  
(07-17-2021 11:00 PM)masttg Wrote:  
(07-17-2021 06:41 PM)Jerry Weaver Wrote:  
(07-14-2021 04:39 AM)emu79 Wrote:  Michigan tax revenues continue to exceed expectations:

https://www.senate.michigan.gov/sfa/Publ...Recent.pdf

K-12 school funding for 10/1/21-9/30/21 is complete. They have not finalized college and university funding-yet.

The Governor wants to use $250 million in federal stimulus money to upgrade the State park system.

I know you might disagree, but the State park system often provides the Gov to pose next to an attractive new project while posing with a shovel or cutting a ribbon.

That said, folks around Detroit are drowning in water because of neglect in our existing flood water systems. It just ain't sexy when you pose next to a pump upgrade or a more effective underground pipe system.

Expanding the park system around Detroit could create wetlands would lessen future flooding. I kid. Nobody will do anything that forward thinking.

We had wetlands. we built houses on all of them in every direction. State government is about as a good as a solar powered flash light.

Yeah Gretchen Whitmer is definitely responsible for urban planning in the late 40s and 50s
07-28-2021 12:10 PM
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emu79 Offline
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Post: #163
RE: "Money Monday"
09-07-2021 05:13 AM
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emu steve Offline
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Post: #164
RE: "Money Monday"
(09-07-2021 05:13 AM)emu79 Wrote:  State budget:

https://www.detroitnews.com/story/news/l...703438001/

Fall Frosh:

https://today.emich.edu/story/story/11839

One quick point: Remember when speaking YoY (year over year). The 2020 frosh class was depressed because of Covid. So if 2020 was down X% from 2019 and 2021 is up 20% over 2020 how much change from 2019?

BUT EMU wisely note +7% 2021 vs. 2019. That is GOOD!! And they all went to the FB game Friday night. 04-cheers
09-07-2021 06:32 AM
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emu steve Offline
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Post: #165
RE: "Money Monday"
I'll get into the articles in more detail. It is good to see the students living on campus (for obvious reason it is an income stream to the university).

The other U I'm very familiar with Howard U (D.C.) for certain reasons, they have had an explosive growth in applications and a BIG on-campus housing shortage. HU has had to obtain U. of Maryland housing.

This is how universities grow: enrollment rises, the number of students living on campus rise, university builds more AND BETTER on campus housing, etc. Everyone wins. Howard has been building new student housing and plans for more. When a prospective student visits he wants to know: Where will I live? Is it nice? Who wants to live in a 75 year old bldg.?

I'm still convinced that as more and more prospective college frosh visit EMU that EMU will do well. As I indicated, I visited EMU last month and drove through campus (as well as spending time at the athletic facilities) and I was impressed.

E.g., saw the new health unit, saw the façade improvements to Phelps, etc. EMU has a very impressive campus. Attractive. Walkable. Amenities. As I may have noted elsewhere, I was a guest student as a summer frosh and went to MSU. MSU is an excellent school but it is huge. Classes could be 1/2 to 3/4 mile walk from one end of campus to another, etc. The class room I had my first stat class didn't have A/C. Class was 1:50 to 2:40 which is my nap time, these days. The instructor's English was challenging... It was a challenge to stay awake.

Just my personal preference but if I were an 18 year old again I would NOT go to a school with 40 - 50K students. Period.
(This post was last modified: 09-07-2021 08:54 AM by emu steve.)
09-07-2021 06:42 AM
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Luckeyone Offline
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Post: #166
RE: "Money Monday"
(09-07-2021 06:42 AM)emu steve Wrote:  I'll get into the articles in more detail. It is good to see the students living on campus (for obvious reason it is an income stream to the university).

The other U I'm very familiar with Howard U (D.C.) for certain reasons, they have had an explosive growth in applications and a BIG on-campus housing shortage. HU has had to obtain U. of Maryland housing.

This is how universities grow: enrollment rises, the number of students living on campus rise, university builds more AND BETTER on campus housing, etc. Everyone wins. Howard has been building new student housing and plans for more. When a prospective student visits he wants to know: Where will I live? Is it nice? Who wants to live in a 75 year old bldg.?

I'm still convinced that as more and more prospective college frosh visit EMU that EMU will do well. As I indicated, I visited EMU last month and drove through campus (as well as spending time at the athletic facilities) and I was impressed.

E.g., saw the new health unit, saw the façade improvements to Phelps, etc. EMU has a very impressive campus. Attractive. Walkable. Amenities. As I may have noted elsewhere, I was a guest student as a summer frosh and went to MSU. MSU is an excellent school but it is huge. Classes could be 1/2 to 3/4 mile walk from one end of campus to another, etc. The class room I had my first stat class didn't have A/C. Class was 1:50 to 2:40 which is my nap time, these days. The instructor's English was challenging... It was a challenge to stay awake.

Just my personal preference but if I were an 18 year old again I would NOT go to a school with 40 - 50K students. Period.

Didn’t know where to post this but it was fabulous and should be celebrated with the unveiling of the EMU College of Engineering and Technology autonomous vehicle that was at the game. EMU is positioned to make great contributions to the next vehicular technology leap. The vehicle is sponsored by Game Above - Well Done!!!!
09-07-2021 02:20 PM
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dansplaining Offline
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Post: #167
RE: "Money Monday"
(09-07-2021 02:20 PM)Luckeyone Wrote:  
(09-07-2021 06:42 AM)emu steve Wrote:  I'll get into the articles in more detail. It is good to see the students living on campus (for obvious reason it is an income stream to the university).

The other U I'm very familiar with Howard U (D.C.) for certain reasons, they have had an explosive growth in applications and a BIG on-campus housing shortage. HU has had to obtain U. of Maryland housing.

This is how universities grow: enrollment rises, the number of students living on campus rise, university builds more AND BETTER on campus housing, etc. Everyone wins. Howard has been building new student housing and plans for more. When a prospective student visits he wants to know: Where will I live? Is it nice? Who wants to live in a 75 year old bldg.?

I'm still convinced that as more and more prospective college frosh visit EMU that EMU will do well. As I indicated, I visited EMU last month and drove through campus (as well as spending time at the athletic facilities) and I was impressed.

E.g., saw the new health unit, saw the façade improvements to Phelps, etc. EMU has a very impressive campus. Attractive. Walkable. Amenities. As I may have noted elsewhere, I was a guest student as a summer frosh and went to MSU. MSU is an excellent school but it is huge. Classes could be 1/2 to 3/4 mile walk from one end of campus to another, etc. The class room I had my first stat class didn't have A/C. Class was 1:50 to 2:40 which is my nap time, these days. The instructor's English was challenging... It was a challenge to stay awake.

Just my personal preference but if I were an 18 year old again I would NOT go to a school with 40 - 50K students. Period.

Didn’t know where to post this but it was fabulous and should be celebrated with the unveiling of the EMU College of Engineering and Technology autonomous vehicle that was at the game. EMU is positioned to make great contributions to the next vehicular technology leap. The vehicle is sponsored by Game Above - Well Done!!!!

I saw that little driver less vehicle - i have only one question: what is the school going to do to discourage people from ******* in it - because that is 100% going to happen.
09-07-2021 02:40 PM
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emu79 Offline
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Post: #168
RE: "Money Monday"
(09-07-2021 06:42 AM)emu steve Wrote:  I'll get into the articles in more detail. It is good to see the students living on campus (for obvious reason it is an income stream to the university).

The other U I'm very familiar with Howard U (D.C.) for certain reasons, they have had an explosive growth in applications and a BIG on-campus housing shortage. HU has had to obtain U. of Maryland housing.

This is how universities grow: enrollment rises, the number of students living on campus rise, university builds more AND BETTER on campus housing, etc. Everyone wins. Howard has been building new student housing and plans for more. When a prospective student visits he wants to know: Where will I live? Is it nice? Who wants to live in a 75 year old bldg.?

I'm still convinced that as more and more prospective college frosh visit EMU that EMU will do well. As I indicated, I visited EMU last month and drove through campus (as well as spending time at the athletic facilities) and I was impressed.

E.g., saw the new health unit, saw the façade improvements to Phelps, etc. EMU has a very impressive campus. Attractive. Walkable. Amenities. As I may have noted elsewhere, I was a guest student as a summer frosh and went to MSU. MSU is an excellent school but it is huge. Classes could be 1/2 to 3/4 mile walk from one end of campus to another, etc. The class room I had my first stat class didn't have A/C. Class was 1:50 to 2:40 which is my nap time, these days. The instructor's English was challenging... It was a challenge to stay awake.

Just my personal preference but if I were an 18 year old again I would NOT go to a school with 40 - 50K students. Period.

Totally agree decent class sizes taught by real profs.EMU was the right size for me.
09-07-2021 05:15 PM
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Jerry Weaver Offline
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Post: #169
RE: "Money Monday"
(09-07-2021 02:20 PM)Luckeyone Wrote:  
(09-07-2021 06:42 AM)emu steve Wrote:  I'll get into the articles in more detail. It is good to see the students living on campus (for obvious reason it is an income stream to the university).

The other U I'm very familiar with Howard U (D.C.) for certain reasons, they have had an explosive growth in applications and a BIG on-campus housing shortage. HU has had to obtain U. of Maryland housing.

This is how universities grow: enrollment rises, the number of students living on campus rise, university builds more AND BETTER on campus housing, etc. Everyone wins. Howard has been building new student housing and plans for more. When a prospective student visits he wants to know: Where will I live? Is it nice? Who wants to live in a 75 year old bldg.?

I'm still convinced that as more and more prospective college frosh visit EMU that EMU will do well. As I indicated, I visited EMU last month and drove through campus (as well as spending time at the athletic facilities) and I was impressed.

E.g., saw the new health unit, saw the façade improvements to Phelps, etc. EMU has a very impressive campus. Attractive. Walkable. Amenities. As I may have noted elsewhere, I was a guest student as a summer frosh and went to MSU. MSU is an excellent school but it is huge. Classes could be 1/2 to 3/4 mile walk from one end of campus to another, etc. The class room I had my first stat class didn't have A/C. Class was 1:50 to 2:40 which is my nap time, these days. The instructor's English was challenging... It was a challenge to stay awake.

Just my personal preference but if I were an 18 year old again I would NOT go to a school with 40 - 50K students. Period.

Didn’t know where to post this but it was fabulous and should be celebrated with the unveiling of the EMU College of Engineering and Technology autonomous vehicle that was at the game. EMU is positioned to make great contributions to the next vehicular technology leap. The vehicle is sponsored by Game Above - Well Done!!!!

100% AGREE! The GM Willow Run plant has been repurposed to develop the autonomous vehicle. Game Above is not a bunch of media craving politicians, Keith Stone and crew are sensible and looking for GOOD investments. This is indeed one!
09-07-2021 06:43 PM
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emu steve Offline
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Post: #170
RE: "Money Monday"
I'll try to summarize a Free Press (behind a paywall) article on MI college and university finances for 2019/20 when Covid hit universities hard with dorms, etc.

Bottom line: EMU did not get hard. Their (Freep) seems be a net loss of 4%, not a disaster. The number in their table was -10M.

What I don't know is how CARES monies for salaries figure in or if they are counted as income.

If any are Freep subscribers, here is the link:

https://www.freep.com/story/news/educati...681229001/
(This post was last modified: 09-08-2021 08:08 AM by emu steve.)
09-08-2021 08:03 AM
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emu79 Offline
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Post: #171
RE: "Money Monday"
If I was an EMU lobbyist and I am not I would be putting together a list of one time funding requests for a supplemental budget bill ask things like Boone Hall renovations infrastructure needs like the Factory paving parking lots paying a portion of debt down. You may not get get all you requested but a wish list is useful.
09-08-2021 10:39 AM
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emu79 Offline
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Post: #172
RE: "Money Monday"
The Governor and the Michigan legislature have reached a budget agreement including university funding for the year beginning October 1. No details at this time. They will need to come to a separate agreement on how to spend $8 billion in federal covid funds. Our total Michigan budget is betweven $60 and $70 billion.
09-16-2021 11:39 AM
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emu79 Offline
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Post: #173
RE: "Money Monday"
The final total state budget for the year beginning October 1, 2021 FY22 should be passed this week.

Higher education. Funding for Michigan’s colleges and universities would increase 5.4 percent to $2.2 billion, including an additional $108 million for the state’s 15 public universities. Much of that increase, $85 million, would pay for pension obligations at the seven universities that are part of the state pension system.

Budget Director David Massaron said the state has about $7 billion in federal funds left over, as well as “a few billion” in general fund and $1 billion in school aid state surplus.
09-22-2021 04:15 PM
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Jerry Weaver Offline
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Post: #174
RE: "Money Monday"
(09-22-2021 04:15 PM)emu79 Wrote:  The final total state budget for the year beginning October 1, 2021 FY22 should be passed this week.

Higher education. Funding for Michigan’s colleges and universities would increase 5.4 percent to $2.2 billion, including an additional $108 million for the state’s 15 public universities. Much of that increase, $85 million, would pay for pension obligations at the seven universities that are part of the state pension system.

Budget Director David Massaron said the state has about $7 billion in federal funds left over, as well as “a few billion” in general fund and $1 billion in school aid state surplus.

Just so you know, as a moderate but small government oriented Republican, that $85 million figure really causes me discomfort. You are a state govt employee and as a citizen taxpayer, I fully accept the pension obligations my government promised you. That said, I find ZERO reason for governments to be allowed NOT to follow the same ERISA rules and PBGC payments that private companies are required to. I thoroughly believe that it would clean up a lot of our governmental financial mess. End of my political rant.
09-22-2021 06:21 PM
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emu79 Offline
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Post: #175
RE: "Money Monday"
(09-22-2021 06:21 PM)Jerry Weaver Wrote:  
(09-22-2021 04:15 PM)emu79 Wrote:  The final total state budget for the year beginning October 1, 2021 FY22 should be passed this week.

Higher education. Funding for Michigan’s colleges and universities would increase 5.4 percent to $2.2 billion, including an additional $108 million for the state’s 15 public universities. Much of that increase, $85 million, would pay for pension obligations at the seven universities that are part of the state pension system.

Budget Director David Massaron said the state has about $7 billion in federal funds left over, as well as “a few billion” in general fund and $1 billion in school aid state surplus.

Just so you know, as a moderate but small government oriented Republican, that $85 million figure really causes me discomfort. You are a state govt employee and as a citizen taxpayer, I fully accept the pension obligations my government promised you. That said, I find ZERO reason for governments to be allowed NOT to follow the same ERISA rules and PBGC payments that private companies are required to. I thoroughly believe that it would clean up a lot of our governmental financial mess. End of my political rant.

Don't assume that every public employee is funded by general fund taxpayer dollars. Some positions are funded by industry specific taxes or even federal dollars. J
09-22-2021 06:32 PM
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Jerry Weaver Offline
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Post: #176
RE: "Money Monday"
(09-22-2021 06:32 PM)emu79 Wrote:  
(09-22-2021 06:21 PM)Jerry Weaver Wrote:  
(09-22-2021 04:15 PM)emu79 Wrote:  The final total state budget for the year beginning October 1, 2021 FY22 should be passed this week.

Higher education. Funding for Michigan’s colleges and universities would increase 5.4 percent to $2.2 billion, including an additional $108 million for the state’s 15 public universities. Much of that increase, $85 million, would pay for pension obligations at the seven universities that are part of the state pension system.

Budget Director David Massaron said the state has about $7 billion in federal funds left over, as well as “a few billion” in general fund and $1 billion in school aid state surplus.

Just so you know, as a moderate but small government oriented Republican, that $85 million figure really causes me discomfort. You are a state govt employee and as a citizen taxpayer, I fully accept the pension obligations my government promised you. That said, I find ZERO reason for governments to be allowed NOT to follow the same ERISA rules and PBGC payments that private companies are required to. I thoroughly believe that it would clean up a lot of our governmental financial mess. End of my political rant.

Don't assume that every public employee is funded by general fund taxpayer dollars. Some positions are funded by industry specific taxes or even federal dollars. J

I don't disagree BUT if say your department is funded by taxes on the insurance industry, any shortfalls will land at the feet of state taxpayers and any costs of doing business will be passed on as well. As for the Federal funds, I believe I actually pay more in taxes to them than I do the state. I simply want government to be held to the same business principles that private enterprise is, with no infinite reserve of funding of taxing.
09-22-2021 07:15 PM
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emu79 Offline
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Post: #177
RE: "Money Monday"
(09-22-2021 07:15 PM)Jerry Weaver Wrote:  
(09-22-2021 06:32 PM)emu79 Wrote:  
(09-22-2021 06:21 PM)Jerry Weaver Wrote:  
(09-22-2021 04:15 PM)emu79 Wrote:  The final total state budget for the year beginning October 1, 2021 FY22 should be passed this week.

Higher education. Funding for Michigan’s colleges and universities would increase 5.4 percent to $2.2 billion, including an additional $108 million for the state’s 15 public universities. Much of that increase, $85 million, would pay for pension obligations at the seven universities that are part of the state pension system.

Budget Director David Massaron said the state has about $7 billion in federal funds left over, as well as “a few billion” in general fund and $1 billion in school aid state surplus.

Just so you know, as a moderate but small government oriented Republican, that $85 million figure really causes me discomfort. You are a state govt employee and as a citizen taxpayer, I fully accept the pension obligations my government promised you. That said, I find ZERO reason for governments to be allowed NOT to follow the same ERISA rules and PBGC payments that private companies are required to. I thoroughly believe that it would clean up a lot of our governmental financial mess. End of my political rant.

Don't assume that every public employee is funded by general fund taxpayer dollars. Some positions are funded by industry specific taxes or even federal dollars. J

I don't disagree BUT if say your department is funded by taxes on the insurance industry, any shortfalls will land at the feet of state taxpayers and any costs of doing business will be passed on as well. As for the Federal funds, I believe I actually pay more in taxes to them than I do the state. I simply want government to be held to the same business principles that private enterprise is, with no infinite reserve of funding of taxing.

Hm those costs to the insurance industry that raises prices huh? Are you subtracting out refunds to consumers, stopped rate increases and fraud recoveries in your equation?

Maybe as a Republican you can explain how corporate American once paid a 48% corporate tax rate and gave their own employees a decent health care plan and a pension system but today at a much lower tax rate they can't.
09-23-2021 04:39 AM
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Jerry Weaver Offline
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Post: #178
RE: "Money Monday"
(09-23-2021 04:39 AM)emu79 Wrote:  
(09-22-2021 07:15 PM)Jerry Weaver Wrote:  
(09-22-2021 06:32 PM)emu79 Wrote:  
(09-22-2021 06:21 PM)Jerry Weaver Wrote:  
(09-22-2021 04:15 PM)emu79 Wrote:  The final total state budget for the year beginning October 1, 2021 FY22 should be passed this week.

Higher education. Funding for Michigan’s colleges and universities would increase 5.4 percent to $2.2 billion, including an additional $108 million for the state’s 15 public universities. Much of that increase, $85 million, would pay for pension obligations at the seven universities that are part of the state pension system.

Budget Director David Massaron said the state has about $7 billion in federal funds left over, as well as “a few billion” in general fund and $1 billion in school aid state surplus.

Just so you know, as a moderate but small government oriented Republican, that $85 million figure really causes me discomfort. You are a state govt employee and as a citizen taxpayer, I fully accept the pension obligations my government promised you. That said, I find ZERO reason for governments to be allowed NOT to follow the same ERISA rules and PBGC payments that private companies are required to. I thoroughly believe that it would clean up a lot of our governmental financial mess. End of my political rant.

Don't assume that every public employee is funded by general fund taxpayer dollars. Some positions are funded by industry specific taxes or even federal dollars. J

I don't disagree BUT if say your department is funded by taxes on the insurance industry, any shortfalls will land at the feet of state taxpayers and any costs of doing business will be passed on as well. As for the Federal funds, I believe I actually pay more in taxes to them than I do the state. I simply want government to be held to the same business principles that private enterprise is, with no infinite reserve of funding of taxing.

Hm those costs to the insurance industry that raises prices huh? Are you subtracting out refunds to consumers, stopped rate increases and fraud recoveries in your equation?

Maybe as a Republican you can explain how corporate American once paid a 48% corporate tax rate and gave their own employees a decent health care plan and a pension system but today at a much lower tax rate they can't.

Two words, GLOBAL TRADE. When industries like Auto Manufacturing had domestic manufacturers controlling 90% of the market a large corporate tax rate and lavish employee benefit packages could easily be absorbed and passed on in purchase transaction prices. When we initiated free trade, that practice simply was unsustainable when competing with off-shore competitors. We lost entire industries like television production as a result.

Is the USA better off today as a result of international trade? I think that is debatable. It was certainly nice when a young kid with a HS education could spend 30 years in an auto plant and provide a nice life for himself and his family in cities like Ypsilanti that thrived as a result. Conversely the US consumer today gets far superior products at a much lower price comparatively. I see both sides.

WHAT IS NOT DEBATABLE. The Government was NEVER threatened by any overseas competition. Yet it requires private companies to pay PBGC premiums, requires them to maintain a certain level of pension financial reserves and yet exempts itself from such practices and NOW WE ARE DUMPING $85 MILLION into a clearly underfunded and mismanaged State employee pension fund! That is my issue.
09-23-2021 05:04 PM
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emu79 Offline
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Post: #179
RE: "Money Monday"
(09-23-2021 05:04 PM)Jerry Weaver Wrote:  
(09-23-2021 04:39 AM)emu79 Wrote:  
(09-22-2021 07:15 PM)Jerry Weaver Wrote:  
(09-22-2021 06:32 PM)emu79 Wrote:  
(09-22-2021 06:21 PM)Jerry Weaver Wrote:  Just so you know, as a moderate but small government oriented Republican, that $85 million figure really causes me discomfort. You are a state govt employee and as a citizen taxpayer, I fully accept the pension obligations my government promised you. That said, I find ZERO reason for governments to be allowed NOT to follow the same ERISA rules and PBGC payments that private companies are required to. I thoroughly believe that it would clean up a lot of our governmental financial mess. End of my political rant.

Don't assume that every public employee is funded by general fund taxpayer dollars. Some positions are funded by industry specific taxes or even federal dollars. J

I don't disagree BUT if say your department is funded by taxes on the insurance industry, any shortfalls will land at the feet of state taxpayers and any costs of doing business will be passed on as well. As for the Federal funds, I believe I actually pay more in taxes to them than I do the state. I simply want government to be held to the same business principles that private enterprise is, with no infinite reserve of funding of taxing.

Hm those costs to the insurance industry that raises prices huh? Are you subtracting out refunds to consumers, stopped rate increases and fraud recoveries in your equation?

Maybe as a Republican you can explain how corporate American once paid a 48% corporate tax rate and gave their own employees a decent health care plan and a pension system but today at a much lower tax rate they can't.

Two words, GLOBAL TRADE. When industries like Auto Manufacturing had domestic manufacturers controlling 90% of the market a large corporate tax rate and lavish employee benefit packages could easily be absorbed and passed on in purchase transaction prices. When we initiated free trade, that practice simply was unsustainable when competing with off-shore competitors. We lost entire industries like television production as a result.

Is the USA better off today as a result of international trade? I think that is debatable. It was certainly nice when a young kid with a HS education could spend 30 years in an auto plant and provide a nice life for himself and his family in cities like Ypsilanti that thrived as a result. Conversely the US consumer today gets far superior products at a much lower price comparatively. I see both sides.

WHAT IS NOT DEBATABLE. The Government was NEVER threatened by any overseas competition. Yet it requires private companies to pay PBGC premiums, requires them to maintain a certain level of pension financial reserves and yet exempts itself from such practices and NOW WE ARE DUMPING $85 MILLION into a clearly underfunded and mismanaged State employee pension fund! That is my issue.

Vs yourself proclaimed party leader raising the national debt by another 8 trillion by playing Santa Claus to the purported job creators. Actually Jerry the teacher and state employee pension funds under Blanchard and Robert Bowman were overturned byv25%. Engler came in and his treasurer had zero skill sets. Of course the,GOP and Engler voted 33% pay increases which boosted their pensions. It has been downhill since then pension funding wise. Global competiton Jerry? How about poor management stock buybacks and CEO compensation?
09-23-2021 06:18 PM
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Jerry Weaver Offline
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Posts: 1,791
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I Root For: EMU
Location: Ann Arbor
Post: #180
RE: "Money Monday"
(09-23-2021 06:18 PM)emu79 Wrote:  
(09-23-2021 05:04 PM)Jerry Weaver Wrote:  
(09-23-2021 04:39 AM)emu79 Wrote:  
(09-22-2021 07:15 PM)Jerry Weaver Wrote:  
(09-22-2021 06:32 PM)emu79 Wrote:  Don't assume that every public employee is funded by general fund taxpayer dollars. Some positions are funded by industry specific taxes or even federal dollars. J

I don't disagree BUT if say your department is funded by taxes on the insurance industry, any shortfalls will land at the feet of state taxpayers and any costs of doing business will be passed on as well. As for the Federal funds, I believe I actually pay more in taxes to them than I do the state. I simply want government to be held to the same business principles that private enterprise is, with no infinite reserve of funding of taxing.

Hm those costs to the insurance industry that raises prices huh? Are you subtracting out refunds to consumers, stopped rate increases and fraud recoveries in your equation?

Maybe as a Republican you can explain how corporate American once paid a 48% corporate tax rate and gave their own employees a decent health care plan and a pension system but today at a much lower tax rate they can't.

Two words, GLOBAL TRADE. When industries like Auto Manufacturing had domestic manufacturers controlling 90% of the market a large corporate tax rate and lavish employee benefit packages could easily be absorbed and passed on in purchase transaction prices. When we initiated free trade, that practice simply was unsustainable when competing with off-shore competitors. We lost entire industries like television production as a result.

Is the USA better off today as a result of international trade? I think that is debatable. It was certainly nice when a young kid with a HS education could spend 30 years in an auto plant and provide a nice life for himself and his family in cities like Ypsilanti that thrived as a result. Conversely the US consumer today gets far superior products at a much lower price comparatively. I see both sides.

WHAT IS NOT DEBATABLE. The Government was NEVER threatened by any overseas competition. Yet it requires private companies to pay PBGC premiums, requires them to maintain a certain level of pension financial reserves and yet exempts itself from such practices and NOW WE ARE DUMPING $85 MILLION into a clearly underfunded and mismanaged State employee pension fund! That is my issue.

Vs yourself proclaimed party leader raising the national debt by another 8 trillion by playing Santa Claus to the purported job creators. Actually Jerry the teacher and state employee pension funds under Blanchard and Robert Bowman were overturned byv25%. Engler came in and his treasurer had zero skill sets. Of course the,GOP and Engler voted 33% pay increases which boosted their pensions. It has been downhill since then pension funding wise. Global competiton Jerry? How about poor management stock buybacks and CEO compensation?

James, first of all I did not support Trump in 2020 and please don't assume that as a registered Republican, I DO NOT adopt ALL of the party views unlike our elected representatives. I'm pro-choice, in favor of tighter firearm laws and sympathetic to the LBGTQ movement.

I cannot disagree with your allegations about our former Governor Engler. If true, that only proves my point that Government needs to "harnessed" to the same pension standards that the private sector does, thus no $85M emergency dump would be needed. The problem is not of a particular party, it is a failure of GOVERNMENT.

Your point with respect to executive pay is valid, USA CEO's seem wildly overpaid to those overseas. Mary Barra, the CEO of GM hauled in $24M last year! That said, at a more manageable $1M salary the savings of $23M for the corporation would hardly provide ANYWHERE near the requirements of upgrading the pension and health benefits of its workforce and retirees. It is indeed a "spit into the ocean" but you did identify a microscopic problem and plays great in the News. Congrats!

I, unlike you, don't feel compelled to answer the "dog whistle" of my preferred party which instead of offering solutions, simply blames the other party for any malfeasance. That attitude and behavior just "ain't gonna get anything done" as we have seen recently in government. You can keep looking for failures in the private sector and the Republican Party and eagerly identify them! Good for you! Perhaps at some point you might actually look into solving problems instead of simply identifying them. In the meantime I will expend my efforts on "slimming down" our most dysfunctional and expensive organization, our Governments.
(This post was last modified: 09-24-2021 07:16 PM by Jerry Weaver.)
09-24-2021 07:10 PM
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