Colorado Preparing to Screw Retirees
March 1, 2010 at 10:50 AM Leave a comment
Like many other states, Colorado is facing a huge budget crisis. One of the ways it has decided to deal with that is to cut increases in the benefits of retirees who are members of the Public Employees Retirement Association, or PERA. Benefit increases would be cut in 2011 from 3.5% to 2%, and “future increases could drop below 2% under certain conditions.”
On the flip side, Colorado has historically offered huge incentives to corporations, such as the oil and gas industry and even to the Denver Broncos and its billionaire owner Pat Bowlen. Instead of looking at raising taxes on those corporations who pay far less as a percentage of their income than the average Colorado Joe and Jane, the state looks to retirees who have arranged their lives around promised retirement benefits.
Again, the little guy gets screwed while corporations go along on their merry way.
It’s so wrong.
Entry filed under: Corporatocracy, Our Tax Dollars, We the People. Tags: .
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