Wednesday, May 13, 2009

Politicians feed at the trough

The return of gold-plated pensions and generous severance perks in 2007 gave golden handshakes to 17 MLAs, paid for by taxpayers, after the May 12th elections in B.C. This is the same type of gold-plated pension scheme abolished 13 years ago because according to the recently re-elected premier - it was too rich.

Over the past three years, all MLAs have contributed $2.9 million into the pension fund. Taxpayers will fund $7 million for the ousted ten who are eligible for pension benefits. As a result, taxpayers will cough up $2.4 for every $1 paid by MLAs.

Taxpayers, many of whom do not even have an RRSP, let alone a pension, are on the hook to fund big pension benefits for politicians. Politicians have put their own interests ahead of the people they purport to serve and will leave taxpayers to burden under a legacy of higher taxes.

It's not a wonder voter turnout was less than 50% in B.C. during the provincial election yesterday.

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