Arthur Hanson
Well-known member
California Faces Death by Pension | The American Spectator
This is is a serious threat in the near term, two years or less, to Silicon Valley. Soon we will be paying more to retirees, in fact far more, than we are current public employees. This is due to vastly increased health cost because of age and gold plated medical paid for by the tax payer and that their retirements are based many times on the last year or three years of work and are heavily spiked by gaming the system with survivor benefits even on top of this. These contracts were reached by gross breaches of fiduciary duty and outright corruption. If our infrastructure and services decline dramatically while our taxes soar, it's not hard to imagine a significant exodus large enough to drop Silicon Valley below the critical mass it has over all other technical hot spots in the world. I feel a combination of transparency, prosecutions for corruption(which could open the door for nullifying past, current and future contacts) and bankruptcy are key. One problem is the people in charge of enforcing laws and regulations are themselves government employees, in short no one is representing the people. All financial transactions including pay checks and benefits should be posted for it is the tax payers money. This is but one tool Silicon Valley has made not only possible, but practical. The true heroes of the world are not going to be the politicians, policeman or soldiers, but the builders of the Silicon Valley culture implementing solutions using the technology they have created. There is not a single area that is not touched by the technology the Valley has created. Misallocation and inefficient use of capital and resources have destroyed more great empires as they have collapsed from the inside and if we don't change, we will be no exception. Like they say "Things work, until they don't", something to really think about. Solutions, thoughts and processes to avert this actively solicited for the SemiWiki community has the best and brightest, making it one of the best hopes for a solution.
This is is a serious threat in the near term, two years or less, to Silicon Valley. Soon we will be paying more to retirees, in fact far more, than we are current public employees. This is due to vastly increased health cost because of age and gold plated medical paid for by the tax payer and that their retirements are based many times on the last year or three years of work and are heavily spiked by gaming the system with survivor benefits even on top of this. These contracts were reached by gross breaches of fiduciary duty and outright corruption. If our infrastructure and services decline dramatically while our taxes soar, it's not hard to imagine a significant exodus large enough to drop Silicon Valley below the critical mass it has over all other technical hot spots in the world. I feel a combination of transparency, prosecutions for corruption(which could open the door for nullifying past, current and future contacts) and bankruptcy are key. One problem is the people in charge of enforcing laws and regulations are themselves government employees, in short no one is representing the people. All financial transactions including pay checks and benefits should be posted for it is the tax payers money. This is but one tool Silicon Valley has made not only possible, but practical. The true heroes of the world are not going to be the politicians, policeman or soldiers, but the builders of the Silicon Valley culture implementing solutions using the technology they have created. There is not a single area that is not touched by the technology the Valley has created. Misallocation and inefficient use of capital and resources have destroyed more great empires as they have collapsed from the inside and if we don't change, we will be no exception. Like they say "Things work, until they don't", something to really think about. Solutions, thoughts and processes to avert this actively solicited for the SemiWiki community has the best and brightest, making it one of the best hopes for a solution.
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