Guns and Pensions

It may have been after the Las Vegas mass shooting that I came across this quote that I am perforce paraphrasing:

All the solutions to gun violence they are coming up with are looking to punish those who had nothing to do with the tragedy.

In New Jersey the plan is to go after public worker pensions.

According to politicususa.com:

New Jersey legislators on Thursday said they plan to introduce bills to bar state pension funds from investing in gun manufacturers.

A bill that state Senator Vin Gopal, a Democrat, plans to introduce today would prohibit the state from investing assets of any pension or annuity fund in companies that manufacture firearms or ammunition

…..

“With this bill we are sending a message that New Jersey is making a conscious decision about the type of companies the state should invest in,” Gopal said in the statement.

With this bill New Jersey legislators are sending a message that New Jersey is making a conscious decision to avoid real solutions (to both the gun violence and pension solvency).

25 responses to this post.

  1. Posted by Tough Love on February 22, 2018 at 7:35 pm

    So why invest in cigarette manufactures ……… surely they are responsible for 10,000 times as many deaths ?

    Reply

    • Posted by Anonymous on February 23, 2018 at 12:24 am

      You invest because although you don’t agree with their practices you can make money and use that money for a good purpose. Why invest in insurance companies they are the biggest scam artists on Earth.

      Reply

      • Posted by Tough Love on February 23, 2018 at 12:41 am

        I was being sarcastic…….

        By the way, the biggest ……….”scam artists on Earth” ……….. are the Public Sector Unions and the Elected Officials whose favorable votes (on Public Sector pay, pensions, and benefits) have been BOUGHT with Union BRIBES disguised as campaign contributions.

        Reply

  2. Posted by Retired police on February 22, 2018 at 7:49 pm

    “With this bill we are sending a message that New Jersey is making a conscious decision about the type of companies the state should invest in,” Gopal said in the statement.

    Where has commonsense gone? Can’t find any in this bill. Perhaps the energy wasted
    could have been spent on one that helps to solve the ever shrinking pension fund.

    Reply

  3. Why invest in opioid type pharmaceuticals, tobacco, fast food chains, chemical companies, oil companies, alcohol, junk food manufactuers………they all kill people

    Maybe it is just a ploy to further drain the pensions and put the blame on guns and ammunitions………..

    Reply

  4. Posted by geo8rge on February 23, 2018 at 8:39 am

    “In New Jersey the plan is to after public worker pensions.” -> In New Jersey the plan is to GO after public worker pensions.

    I think NJ should just pay the pensions out of assets until there are none, then reboot as a go pay as you go plan (which seems inevitable at this point anyway). So selling gun manufacturers is a start.

    The funny part is with a pension scheme that is 33% funded, who cares what they do? At some point all the assets will be sold as NJ goes is forced into pay as you go mode. This might not be a bad time to bail on stocks like Sturm Ruger, the pent-up demand for recreational guns has probably been satisfied over the last decade. I wonder what they will do about etfs and indicies that have those stocks in them.

    Reply

    • Posted by Tough Love on February 23, 2018 at 9:08 am

      Quoting …………. “I think NJ should just pay the pensions out of assets until there are none, then reboot as a go pay as you go plan”

      I prefer……………. “I think NJ should just pay the pensions out of assets until there are none, then stop paying.”

      Reply

      • Posted by Tough Love on February 23, 2018 at 9:24 am

        No, my above was too rough ……….

        When the assets run out, we shouldn’t “stop paying”, but we SHOULD only pay the amount that likely WOULD HAVE been granted in the absence of the decades-long Public Sector Union/Elected-Official collusion (with the former buying the favorable votes of the latter with BRIBES disguised as campaign contributions and election support).

        A reasonable proxy for what WOULD HAVE been granted, is the retirement security typically granted comparably situated (in wages, age at retirement, and years of service) Private Sector workers. And since Private Sector pensions ROUTINELY have a value upon retirement (taking into account not only the pension “formula”, but also it’s “provisions”, such as the youngest age at which an unreduced pension can commence) about 60% LESS (75% less for Safety workers with even richer pensions) than those typically granted Private Sector workers, reductions of those % magnitude will put us just about where we should have been all along.

        Too bad we can’t (in addition) recoup the PAST over-payments

        Reply

        • Posted by PS Drone on February 23, 2018 at 8:01 pm

          Yeah – the taxpayers should pay the drones the average that SS beneficiaries get, only the payouts are delayed until they reach age 66 (or whatever the full SS retirement age is at the time). That seems fair, especially vs. getting nothing.

          Reply

  5. Posted by geo8rge on February 23, 2018 at 12:07 pm

    Millionaire chooses retirement over action.

    “He Never Went In”: Officer On Duty Filmed “Doing Nothing” During Florida Shooting
    https://www.zerohedge.com/news/2018-02-22/he-never-went-officer-duty-filmed-doing-nothing-during-florida-shooting

    Reply

    • Posted by Stephen Douglas on February 23, 2018 at 1:41 pm

      I am curious about correct police procedure in a case like this. If an officer doesn’t know how many attackers, is he really expected to charge in alone, or is the correct response to call in reinforcement and monitor the situation?

      Reply

      • Posted by Tough Love on February 23, 2018 at 2:36 pm

        Per ………. http://www.sun-sentinel.com/local/broward/parkland/florida-school-shooting/fl-florida-shooting-sro-20180222-story.html

        Sheriff Scott Israel said Deputy Scot Peterson should have “went in. Addressed the killer. Killed the killer.” Video footage showed Peterson did none of that, Israel said.

        Reply

        • Posted by Anonymous on February 23, 2018 at 3:40 pm

          yes ,he’s there to protect and serve …he hears shooting knowing unarmed kids are inside ,and he does nothing …yeah he’s a coward .He took the job knowing the risks …

          Reply

          • Posted by Tough Love on February 23, 2018 at 4:05 pm

            No, He (like MANY others) took the job because of the LUDICROUSLY excessive compensation …… primarily pensions & benefits can only DREAM of.

          • Posted by Anonymous on February 23, 2018 at 4:05 pm

            I am a 23 year Officer. There is no way, no way, no way that that officer should have done what he did. He should have relayed his location and then went right in!!!!! Active shooter is completely different then hostage. We are trained to neutralize the threat as quickly as possible!!!! This “cop” is a disgrace to the profession. Can’t have it both ways. Can’t come and say you need high salary/pension etc and then hide like a BITCH when kids are getting shot!!!!! This guy is a total disgrace to the profession. Jesus, I would irather have a dirty cop who will at least not be afraid to stop kids from getting slaughtered than this piece of crap.

          • Posted by Anonymous on February 23, 2018 at 4:08 pm

            TL it is both. I took the job because of the pay/benefits while of course knowing at the same time what the risks were. This guy is a coward plain and simple regardless of why he took the job and btw he should forfeit himself pension for his lack of action. Disgraceful.

          • Posted by Tough Love on February 23, 2018 at 4:45 pm

            Quoting Anon ……… “he should forfeit himself pension for his lack of action.”

            He very quickly retired, likely to make sure his pension was NOT at risk.

            I’m sure his retirement is not going to be a rose-garden. Wherever he goes, he’ll be looked at as a coward.

    • Posted by PS Drone on February 23, 2018 at 8:03 pm

      I thought LEO (and don’t forget FF) risked their lives 24 x 7? Guess this guy did not get the memo.

      Reply

      • Posted by Tough Love on February 23, 2018 at 9:13 pm

        I wonder if the City’s Taxpayers can recover the share of his decades long pay (and pension & benefits) tied to his accepting the “risk” that comes with the job. Clearly their taxpayers (and the impacted families) were robbed.

        Reply

        • Posted by Anonymous on February 23, 2018 at 10:02 pm

          I am a police officer and I could not agree more TL. We both know that is not possible. However, a forfeit of his pension and a criminal charge would go a long way. This coward deserves nothing but the public scorn he is receiving.

          Reply

  6. Maye the families will sue him and the city for not performing his duties and this possibly preventing some loss of life…………protect and serve

    Reply

  7. Posted by S and P 500 on February 24, 2018 at 12:32 pm

    Check out the you-tube vids on ACOG optical sights. Those things are expensive. Maybe we should put restrictions on those things too.

    Reply

  8. Seems to me the correct deal is this:

    the politicians and unions can require absolute purity in the assets backing their pensions…

    …and the pension benefits are no longer guaranteed.

    I think that would be a fabulous bargain.

    Reply

    • Posted by Tough Love on February 28, 2018 at 7:30 pm

      Certainly would be nice (AND fair), but we both know that’what Public Sector Unions ALWAYS seek out is ……..

      Heads we (the Unions/workers) “win”, and Tails the Taxpayers “lose”.

      Reply

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