Pension war breaks out in Canada
If you think the assault on pensions is just an American phenomenon, think again. Here’s a blistering article from the Vancouver Sun calling the defined benefit pensions earned by the teachers, cops and other public sector workers in British Columbia a crime against the taxpayer. The article starts this way: “Imagine if governments engaged in a massive spending binge over the last decade, with the benefits falling to just a small part of the population – and then hiked taxes four times to pay for it. Now imagine if they argued, in some Orwellian twist of illogic, that such excess generosity was “fully funded, affordable, and sustainable” – this after the multiple tax hikes demonstrated they were not.”