“NJ already has the highest combined, state, local, and corporate tax rates in the United States… and the public pension funds will be insolvent by 2027… which means NJ taxpayers have unlimited liability carrying the $12B per year paid out to retired public sector workers, plus their PAYGO (pay as you go) platinum health insurance… Ponzi scheme where the math doesn’t work when private sector employers are leaving and aren’t investing in the state. NJ also has net migration which only worsens the Ponzi scheme. Public sector unions only care about squeezing more blood from a shrinking stone. Greedy pigs “
“Same for CA, IL, etc, but When the state sends out $12bn a year already in annual pension checks (or 1/3 of our current annual NJ state budget), we have an unlimited pension liability in perpetuity once the public sector pension funds go insolvent by 2027… and that’s not even including “pay-as-you-go” (PAYGO) platinum healthcare insurance… the math doesn’t work. States like NJ, CA, IL, etc will have to explore bankruptcy filings to protect them from all of these excessive liability claims! “
