NYC city employees are rich

Our team at OpenTheBooks.com recently analyzed New York City payroll data for fiscal year 2016. We found 76,166 rank-and-file NYC public employees were paid more than $100,000 each, costing taxpayers $11 billion. These highly compensated employees made regular salaries plus a stunning $1.3 billion in overtime charges, another $728 million in ‘extra pay,’ and another 30 percent estimated for pension, health insurance, vacations, sick time and holiday pay – amounting to $11 billion.

https://www.forbes.com/sites/adamandrzejewski/2017/10/11/start-spreading-the-news-nyc-mayor-de-blasio-paid-city-employees-2b-for-33-million-overtime-hours/#e3f257c5d8da

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It’s amazing how much most states have in unfunded pension liabilities. In some states, it’s tens of thousands per state resident. Something has to give. Either states need to dramatically increase taxes to fund it, or they need to cut other services to fund pensions. Good luck convincing the public to pay more taxes to fund pensions for government employees that are making over $100k/yr. States can’t use bankruptcy to avoid pensions, so at some point the people holding state debt in the form of bonds will get screwed.

The cry babying…Jesus!

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Bell, in southeast Los Angeles County, had 36,624 residents as of the 2000 census. The median annual income is less than $35,000.
Rizzo’s last annual base salary was $787,638, Adams earned $457,000, and Spaccia received $336,000, according to Brown’s office. Before recently cutting their pay, Bell city council members received $96,000 a year, compared with $4,800 a year earned by council members in similar-sized cities.
Since 1993, the council raised Rizzo’s salary 16 times, with an average jump of 14 percent yearly, the attorney general said. In 2005, he received an increase of 47 percent. Since 2001, city council members also awarded themselves 16 percent raises yearly.

http://www.cnn.com/2010/CRIME/09/21/california.bell.arrests/index.html

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Some day, the silent public will awaken and demand reforms in local governments. I think many cities may file bankruptcy to remove the pensions. Eventually, many smaller cities may be forced to merge to improve government efficiency.

As the state level regulation increases, small cities won’t be able to handle all its duties cost effectively, even if the city emoloyees are all honest and not greedy at all

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South Lake Tahoe city council members get $1000/m
But the bureaucrats like City manager all get more than $200k…For city of 25 k
Average worker make less than $25k

Look at local governments where revenue is increasing by 5% a year, and they say revenue isn’t increasing fast enough. That’s more than 2x inflation. One day people are going to wake up and realize govnement is the problem and not the solution.

Ooops, go Bruins???

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