“The David Goldstein Show” tonight on 710-KIRO

It’s double the fun on the AM dial, as “The David Goldstein Show” officially expands to two nights a week! Join me tonight from 7PM to 10PM on Newsradio 710-KIRO. I like to go with the flow, so things could change, but here’s what I have lined up for tonight’s show:

7PM: Are state Dems plotting to impose an income tax? Or does one state Dem simply want to start a responsible dialog? State Sen. Rosa Franklin (D-Tacoma) introduced two bills last week (SB8209 and SB5150) that would pave the way to a state income tax… with little if any support from her fellow Democrats. Sen. Franklin will join me to discuss her proposal and dispel some myths.



Tune in tonight (or listen to the live stream) and give me a call: 1-877-710-KIRO (5476).


  1. 1

    Roger Rabbit spews:

    I don’t think Sen. Franklin speaks for the Democratic Sehnate caucus, much less the party, and certainly not for the Gregoire administration (which has a third-rail mentality).

    Here’s the dilemma with trying to sell an income tax: If it’s truly revenue neutral, then what’s the big hurry? We’ve had the current system for 100 years, and if it’s raising the same amount of money that an income tax would, why do we need to change it? But if the argument for an income tax is that a regressive, patchwork, 19th century Rube Goldberg duct-tape-and-baling-wire tax system can’t meet the state’s needs in the 21st century, then you’re talking about a tax increase.

    Gonna be a tough sell.

  2. 2

    klake spews:

    Plot are you crazy Goldy they a blatant about the subject after Ron Sims came up with the idea. Now if you end property Tax and all those hidden taxes you might get my attention. Well you know that will not happen with all the thieves running the government today. Goldy did you catch the hint it does no matter what party in charge they believe in keeping their own special programs funded. Today I received my utility bill and they requested an increase of 44% on some portions of the bill. Now justify any increase in government spending by 44% and I’ll show you a fool. Excuse me I don’t trust governments that run budgets that are out of control and request a big dig just to save a sky line for a city.

  3. 3

    Roger Rabbit spews:

    Here are the key facts about Washington’s tax system:

    1. Small business pays 41% of state and local taxes, compared to a 30% average in other western states.

    2. The bottom 20% of households pay 17% of their income in state and local taxes, compared to 4% for the top 20%.

    3. Washington’s heavy reliance on volatile sales tax revenues make it hard to plan state spending, resulting in state budgets that alternate between crunches and surpluses.

    4. Washington’s tax system can’t keep up with population growth and inflation, and periodic tax increases or new taxes are needed just to maintain current service levels.

    Yes, it’s time for a change. But “change” means making the politically powerful upper income group pay more. And that will be hard to enact in our money-dominated political system.

  4. 4

    Governor Gregoire spews:

    Ask Senator Franklin what she is going to do about the $5.973 BILLION underfunded Washington State Retirement System liability.
    See the current Financial Report at this link:
    http://www.drs.wa.gov/Administ ration/AnnualReport/SAFR/finan cials.htm

    See the section entitled Funding.
    These are not my numbers.
    They are the State’s ACTUARY.
    Why not fund existing liabilities BEFORE any new program spending??
    $6 BILLION!
    It’s as bad as GM, FORD, ENRON & WORLDCOM.
    Unless you believe the State is never broke and can continuously raise taxes and do so whenever.

  5. 5


    Hey Goldie, what the hell do you know about Alabama? I am a native of Alabama. I have lived here in Seattle for almost two years now. So go ahead, I’m listening, share with me your informed comparisons to Alabama. Be careful not to violate the old chinese proverb; you know the one, better to be perceived than to reveal…

  6. 7

    Wally the talking Badger spews:

    re 5: Most of us raised above the Mason-Dixon line were taught to believe that Southerners were , as my mother used to say: “… very backward and ignorant. If those blithering idiots realize you’re not from the South, they’ll cause you trouble. That’s why we never vacation there. Besides, I can’t stand the way they speak. They all sound like a bunch of halfwits”

    I’ve never seen much evidence to this day that contradicts her.

  7. 8

    anti-liberal spews:

    Wally the talking Badger says:

    re 5: Most of us raised above the Mason-Dixon line were taught to believe that Southerners were , as my mother used to say: “… very backward and ignorant. If those blithering idiots realize you’re not from the South, they’ll cause you trouble. That’s why we never vacation there. Besides, I can’t stand the way they speak. They all sound like a bunch of halfwits”
    I’ve never seen much evidence to this day that contradicts her.

    But I bet she voted for, supports and defends Jimma Cahtah and the Penis Prez…

  8. 9

    Roger Rabbit spews:

    @4 “It’s as bad as GM, FORD, ENRON & WORLDCOM.”

    Anyone who believes this rant probably thinks you’re the real Gov. Gregoire, too, puddycheecks! The state pension system is 94% funded — that’s far better than ANY major corporation, and far better than the private sector as a whole! Unlike airline pilots and other private sector employees, as a state employee I never worried about working for 30 years only to learn upon reaching retirement are that my pension would be ZERO. The state pension system consistently earns above-average investment returns, so it’s quite possible full funding will be reached without any tax dollars. Perhaps there are things state government can be legitimately criticized for, but a poorly run pension system is not one of them.

    Another wingnut lie brought to you by a wingnut liar.

  9. 10

    Roger Rabbit spews:

    Goldy, you need to quit whining about your whiney voice and go with what God* gave you.

    * Your choice of:

    [ ] 1. Allah
    [ ] 2. Buddha
    [ ] 3. Christian God
    [ ] 4. Jewish God
    [ ] 5. Great Spirit
    [ ] 6. Pagan God
    [ ] 7. No God
    [ ] 8. Rabbit Spirit In Sky
    [ ] 9. Zeus
    [ ] 10. Other

  10. 11

    YOS LIB BRO spews:



  11. 12

    Roger Rabbit spews:

    Goldy, your smackdown of “Ted” was justified. The guy must’ve called in just to hear his voice on the radio, or maybe is a smart aleck who wanted to brag to his friends about giving the what-for to a liberal talk-show host. In any case, he merely spewed cliches from Wingnutz Radio, and clearly knew absolutely nothing about the subject he was spewing on. What an ass!

    However, in my humble (and informed) opinion, the state is not doing a good job of making budget information accessible and transparent. Sure, budget information can be found on the state web site; but it’s not user-friendly.

    For example, you can find out how much money the governor has requested for each state agency by going to the “Agency Recommendation Studies,” but to find out what the legislature actually approved you have to plow through the appropriations bills, which is extremely laborious and tedious — and only gives you a gross figure for each agency.

    In order to make budget information accessible and understandable to ordinary citizens, instead of just providing links to documents designed to meet the technical requirements of state laws and the state accounting manual, state information officers should post on the official web site a budget summary for each agency, prepared specifically for citizen use, that provides breakdowns of (a) spending in each program, and (b) the sources of the money (e.g., dedicated state taxes, federal grants, general fund revenues, user fees and license fees, etc.).

    Many of the small regulatory agencies are supported entirely by license or user fees paid by the regulated industry, and receive no money from state taxes, e.g. the Gambling Commission. Within DSHS, the vocational rehabilitation proram is mandated by federal law and supported by federal money. In the unemployment compensation program administered by the Employment Security Tax, administrative expenses are paid by the U.S. Labor Department from federal unemployment tax revenues, whereas unemployment benefits are paid from the state unemployment tax (and all monies collected under the state unemployment tax go to benefits). And so on. This type of information is NOT readily available in the budget documents, and to know these things, you have to either be familiar with the agencies or programs, or do a lot of time-consuming digging. Surely the state has the ability to pull this information together in an easy-to-access and easy-to-use format! Why haven’t they done it?

    Is it important? I think so. For example, voters might be more willing to support a program (and less vulnerable to bullshit) if they could easily look it up and see how much is spent on that program and where the money comes from. A citizen concerned about high property taxes might be less inclined to cut the Horse Racing Commission’s budget if he knew the Commission is supported by license fees and none of its money comes from property taxes.

    To reiterate, the budget information presently available is scattered in the state web site, is mostly in arcane technical format, and in most cases lacks detail of program spending or funding sources. That’s not good enough.

  12. 15

    Tree Frog Farmer spews:

    Actually, the only reason this underfunding gets any traction at all is because there are constitutional constraints demanding that the original Pers-1 be 100 per cent funded.
    The hodgepodge of various retirement systems in the state gov’t are a legacy of attempts to rob retirement funds from government employees. Pers-1 funds are supposed to be untouchable and are defended regularly by lawsuits. Special interests in the legislature at various times have designed the newer retirement systems to be more easily raided.
    My feeling is that a revamping of our regressive tax system would lessen the tendency to raid these funds.

  13. 16

    Roger Rabbit spews:

    I wish Goldy wasn’t so self-conscious about his voice. Just fake it, Goldy. Psyche yourself. Tell yourself you have a deep baritone voice like Gregory Peck. Tell yourself you ARE Gregory Peck! You’ll be fine. Trust me, you will. Quit talking about your voice. It’s gauche to complain on radio about not having a radio voice. Focus on content; if the content is good, you will have listeners’ undivided attention, and they won’t even notice that you sound like Daffy Duck. But if you keep reminding them you sound like Daffy Duck, that’s all they’ll hear, and they won’t pay any attention to the content. Trust me on this …

  14. 18

    The Dead Democrats spews:

    If people can stomach Rush’s voice, Goldy, then they can take yours. You’re fine. Don’t sweat it.

    You got that right. I can not believe the amount of people that listen to Rush. We need to reenact the fairness doctrine. We democrats can not afford free speech on the public air waves.

  15. 19

    First Man Gregoire spews:

    Roger Rabbit is a liar….again!
    Lying Rabbit said
    “The state pension system is 94% funded — that’s far better than ANY major corporation, and far better than the private sector as a whole!”

    But this is a quote right out of the Annual Report Lying Rabbit:
    “The ratio of assets to liabilities is 88 percent, compared to 91 percent last year. Current contribution rates remain in keeping with the goal of attaining a funding ratio of 100 percent by the amortization dates applicable to each plan, as required by the Revised Code of Washington, chapter 41.45.”

    It has dropped to 88% you moron.
    And why shouldn’t it be funded 100%??

  16. 20

    Roger Rabbit spews:

    Bill Richardson declared for the ’08 Democratic presidential nomination.

    So far, I like him. He’s a governor AND has cabinet (Energy) AND ambassadorial (U.N.) experience; he’s from the south AND from the west; and he’s a face we’ve seen before and know something about (having considered a run in ’04). He looks and sounds presidential, and I like what he says (“I want to repair the damage of the last six years”).

    Hey, I’m not committing to Richardson (or anyone else) just yet — it’s waaaay too early. And there are unanswered questions: How good a debater is he? Can he stand the heat or will he implode? Can he raise money? Can he get momentum going? And a bunch of other things.

    Bottom line, I’m a hard-headed pragmatist who wants a nominee who can (a) win, and (b) govern. Of the potential Democratic field, right now Richardson looks solid. Put it this way, if he was a stock, I’d feel comfortable putting money on him.

    I don’t believe for one minute that McCain will be the GOP nominee, for 2 reasons. First, he’s already starting to implode. Second, the radicals in control of the GOP will never allow him to be nominated; and they almost certainly have their own horse in mind. My gut tells me if they pull some shitty little stunt and steal the nomination for one of their own, here is what it’ll look like: The convention “drafts” a guy who isn’t running named Jeb Bush. No proof, just a feeling. McCain? No way. We’d be fools to think we’ll run against McCain in ’08.

  17. 21

    Roger Rabbit spews:

    @15 The state underpaid its share of PERS 2 and 3 contributions during the 2001-2003 recession, while collecting the full employee contribution. It was generally recognized the state would have to make up these underpayments after the economy (and revenues) recovered. It was talked about last session, and will be talked about again this session. But there is NOT a crisis. Most PERS 2 and 3 members are still years away from retirement, so there’s plenty of time to amortize the shortfall from full actuarial funding in attainable increments spread over time.

  18. 22

    Wally the talking Badger spews:

    “I am not in the habit of offering partisan linguistic advice to Democrats. But in the genuine spirit of bipartisanship – seriously – I thought this is the perfect time to convey a simple point to the still-euphoric faces of Democrat activists …
    Don’t twist the knife.” Frank Luntz
    Her’s a word that adequately describes Frank Luntz: “Dickhead”!

  19. 23

    Wally the talking Badger spews:


    Impeach the “Insane Criminal”
    Paul Craig Roberts has dropped yet another bombshell on President Bush with his latest editorial, in which he asks, “When are the American people and their representatives in Congress and the military going to wake up and realize that the US has an insane war criminal in the White House who is destroying all chances for peace in the world and establishing a police state in the US?

  20. 26

    Roger Rabbit spews:

    I just received the annual report sent to state pensioners, so I have some hard numbers.

    The money for all state retirement plans is pooled in the Commingled Trust Fund (CFT). The CFT reports figures for a fiscal year that runs from July 1 to June 30.

    99% of disbursements made from the CFT go to employees; 1% goes for administrative expenses.

    The CFT’s total funds increased, year over year, from $51.1 billion to $58.1 billion from FY2005 to FY2006.

    During that period, total income was $9.4 billion (investment income, $8.15 billion; pension contributions, $1.03 billion; deferred comp contributions, $168 million; service charges, $27.2 million; other, $2 million).

    During that period, total charges were $2.48 billion (pensions, $2.19 billion; employee contribution refunds, $258 million; administrative expenses, $26 million).

    The CFT’s investment performance for FY2006 by asset class was:

    1-year assets, +16.69%
    3-year assets, +15.47%
    5-year assets, +8.51%

    By asset type (listed in order of 1-year, 3-year, and 5-year):

    U.S. equities, +9.9%, +13.05%, +3.98%
    Non-U.S. equities, +27.21%, +24.92%, +11.49%
    Private Equity, +39.48%, +30.04%, +13.24%
    Fixed Income, +0.32%, +2.92%, +5.69%
    Real Estate, +24.30%, +19.83%, +17.22%
    Liquidity, +4.16%, +2.19%, +2.01%

    The CFT’s 10 largest U.S. equity holdings are (from largest to smallest): Exxon Mobil, General Electric, Citigroup, Bank America, Microsoft, Pfizer, Johnson & Johnson, Procter and Gamble, J.P. Morgan Chase, Altria Group. [I personally own 3 of these stocks in my individual portfolio.]

    The actuarial value of assets is 88% of accrued liabilities, down from 91% in the preceding FY.

    From the above figures, we see that (a) the fund’s major source of income is not legislative appropriations (i.e., employer contributions) or employee contributions, but investment income, which is more than 7 times the combined employer-employee contributions; (b) current income is nearly 3.8 times current payments; and (c) the state earns double-digit investment returns on its pension funds.

    From this, it should be clearly that the CFT is well managed, has healthy investment income, and relies on legislative appropriations for only a small part of its solvency; and that it has an extremely positive current cash flow.

    Move along, wingnutz; there’s nothing to see here.

  21. 27

    Roger Rabbit spews:

    My post on pension system financials went into the filter, so I’ll post this executive summary (and hope it gets past the filter):

    For the latest fiscal year, the state pension fund increased $7 billion, from $51.1 billion to $58.1 billion.

    Total income was $9.4 billion compared to total payments of $2.19 billion.

    Over 86% of this income came from investment returns, less than 11% from employer and employee contributions, so legislative appropriations (i.e., employer contributions) is a small factor in the pension fund’s total funding, amounting to less than 6% of total income.

  22. 28

    Roger Rabbit spews:

    Given that 86% of my pension check comes from investment income, any wingnutz who think I’m not a Capitalist Bunny are fucking morons!

    Hey, Redneck — be sure to gas up your Hummer tomorrow, it’s an investment in my future!

  23. 29

    Roger Rabbit spews:

    @18 “I can not believe the amount of people that listen to Rush.”

    It proves P.T. Barnum was right: There’s a sucker born every minute.

  24. 30

    Roger Rabbit spews:

    A few years ago, I was hopping across a western state and listened to Rush because he was on the only radio station within range. You couldn’t even get country music in that fucking desert! He was talking about Bush’s prescription drug plan — this was before it was enacted by the GOP rubberstamp congress.

    And for 1 1/2 hours, all Rush ranted about was that BILL GATES was gonna get cheap medicines in his old age! Never ONCE did Rush make any reference to the millions of low and moderate income elderly who need help with the cost of their medications. Never ONCE did Rush tell his listeners that some old folks have to choose between buying medicine or buying food. It was all Bill Gates, Bill Gates, Bill Gates. Talk about intellectual dishonesty.

    But let’s talk about Bill Gates instead. Hey Rush, why do you have a problem with Gates getting Medicare drug benefits? Whatsamatter, isn’t the guy paying enough taxes? I mean … Geezus Christmas … here’s a guy who pays enough taxes to not only pay for own his drug benefits but also the drug benefits of several MILLION other people, and Rush is bitching because the guy is gonna get a benefit his taxes paid for? Geezus Christmas, this is why I call Rush a fucking demagogue.

    The amazing thing is some people actually listen to this guy, and take what he says to heart. They must be emotionally needy and incapable of doing any thinking for themselves to put themselves in the hands of a charlatan like Rush.

  25. 31

    Roger Rabbit spews:

    I guess Rush figured if he said “Bill Gates” enough times, some stupid shits would actually believe Bill Gates is the only person who would benefit from a Medicare prescription drug program!

    I’ll bet he laughs at his listeners all the way to the bank. I’m sure of it. Rush is actually a pretty smart guy — smart enough to pull down $38 million a year by peddling snake oil — and he must feel utter contempt for his audience. Suckers, every one of ‘em. Hayseed suckers.

  26. 32

    Richard Pope spews:

    Roger Rabbit @ 26

    Isn’t most of the 86% “investment returns” (out of the $9.4 billion in “income”) capital gains?

    Yes, $8.1 billion in “investment returns” on a portfolio that started on July 1, 2005 with $51.1 billion is pretty impressive — on paper at least.

    But that is ON PAPER. All it takes is for a downtown in the markets, and there can be $5 billion or $10 billion in LOSSES in some future fiscal year.

    I look at the numbers a different way. For the period 07/01/2005 to 06/31/2006, this would indicate $2.4 billion in benefits paid and costs of administration, with only $1.3 billion coming from employee and employer contributions.

    So we have the state pension fund last fiscal year paying out $1.1 billion more in benefits (and costs of administration) than contributions received, with a severe fiscal crisis averted only because of a major increase in the stock market.

  27. 34

    Roger Rabbit spews:

    @19 The 94% is an old number, and I did update it to the 88% figure in my comment. So, no, I didn’t lie about it — I made full disclosure.

  28. 35

    Roger Rabbit spews:

    @19 As for why it shouldn’t be funded at 100%, I can think of at least 3 reasons:

    1) The pension fund has a strongly positive cash flow (current income is 3.8 times current payments), and

    2) Many of the pension fund’s liabilities are many years in the future.

    As for why it ISN’T funded at 100%, the answer probably lies in the fact that Republicans controlled the Senate (and therefore had veto power over the budget) in 2001-2003, when the state underfunded pensions. Our antiquated tax system, which is unable to produce enough revenue for current needs, contributes to the pressures on legislators to underfund pensions.

    And, finally, Republicans don’t give a rat’s ass about whether state pensions are paid; if they had their way, no state employee would ever get anything. Our last Republican governor, John Spellman, arbitrarily froze payment of state payrolls with 1 days’ notice, leaving many state workers unable to buy food — and then ordered DSHS to deny food stamp applications filed by state workers — which was illegal and later overturned by the courts. Want to know why this state hasn’t elected a GOP governor since 1980? One reason is because Spellman pissed off 100,000 state workers and their families, for no reason at all. He made a lousy $4 million in interest from their paychecks sitting in the state’s bank account while the workers couldn’t pay their mortgages or feed their families. People around here have long memories; that was the last elective office Spellman ever held, and he was the last Republican governor our state had.

  29. 38

    skagit spews:

    Goldstein, I wrote that email. I wanted you to lose the ego and just do the show. I’ve said so many times you are really, really good when you just do the damn show. I hate the intros where you spend time celebrating liberalism and talking about yourself – it is just too much ego for me.

    Move into the show, talk normally, and it’s great.

    Also, I got the impression tonight you’re paving your way out the door. Then you can tell everybody that you didn’t care anyway. That is so juvenile. Quit talking and thinking about yourself and just do the damn show. That’s when it works.

    And, as I recall, you wrote something about frequently pressuring Tom to just give you a chance . . . so it doesn’t sound like a job that just flew into your life to me. You wanted it so make the best of it.

    You should talk to your psychiatrist dad or mom about this need to fail . . . If you really do the work, make the effort and then fail, I guess its harder so maybe best to just wing it. Then you can tell everybody “didn’t really matter anyway . . . ”

    Roger is right. Get over it cuz nobody cares. Just do the show. The Ellsberg show was awesome. All the shows have been good except when you do bloggers hours. You need to get more intersting bloggers.

  30. 39

    Puddybud spews:

    Pelletizer crapped: Anyone who believes this rant probably thinks you’re the real Gov. Gregoire, too, puddycheecks!

    Not my nick silly wabbit!

  31. 40

    Puddybud spews:

    Froggy: “Special interests in the legislature at various times have designed the newer retirement systems to be more easily raided.”

    So Froggy, whose side panders to the special interests in FUWA? Unequivocally, it’s your side! Who has been in charge for a long time. Unequivocally, it’s your side!

    Nuff Said!

  32. 41

    RightEqualsStupid spews:

    Where was Brian Baloney? I thought he was some sort of radio guy? Didn’t show up-typical republican coward.

    Puddybutt and Klake, your wives are ugly but give good head.

  33. 42

    Puddybud spews:

    Roger Rabbit says: I wish Goldy wasn’t so self-conscious about his voice.

    1) But Pelletizer, he sounds like fingernails on a dirty chalkboard.
    2) Pelletizer, Listen to Gilbert Gottfried and the Hefty Trash Bag commercials. Now you don’t need to listen to Radio Goldy. Maybe cut from the same cloth?

  34. 43

    Puddybud spews:

    Pelletizer: Maybe Goldy needs

    1) some liquid Testosterone
    2) voice lessons
    3) breathing lessons
    4) to give up his speaking career

    I suggest Toastmasters. A great organization and people who care. Maybe that’s why few Moonbat!s are there!

  35. 44

    Puddybud spews:

    Roger Rabbit says: Bill Richardson declared for the ‘08 Democratic presidential nomination. He likes him like Mikey likes Life Cereal.

    Furball: He’s got a snowball’s chance in hell. Wait, it snow in Arizona on Sunday.

    The “smartest” woman announced Saturday. Richardson ain’t going anywhere! She’s in it to win it.

    Too bad her votes in the Senate were against the little children she “claims” to represent!

  36. 47

    Puddybud spews:

    RightEqualsStupid says: Where was Brian Baloney? I thought he was some sort of radio guy? Didn’t show up-typical republican coward.

    Puddybutt and Klake, your wives are ugly but give good head.

    I’m glad your right hand knows how to give head. Do you use water-filled neoprene gloves for that “feeling”?

  37. 49

    Cougar spews:

    What, Wingnuts getting personal? Cannot be true. They are all honest and caring people, like puddybutt, jch and auntie liberal…

    “We’ve had a dose of the same out here, with the far-right Soundpolitics.comWeb site directing ceaseless, often personal nastiness at Gov. Chris Gregoire. Fox took a run at Sen. Patty Murray over a comment she made on how Osama bin Laden set up base in Afghanistan.”

    from today’s PI. http://seattlepi.nwsource.com/.....source=rss

  38. 50


    Asset Tax much more fair than an Income Tax.

    It would be a flat tax.

    The theory is the more you have, the easier it is to make more. Ever heard “It takes money to make money” before?

    Our tax base nationwide should be transferred to an asset tax, and the only deductions are for creating jobs….

  39. 51

    ArtFart spews:

    Hey, Tahquitz….

    Since Goldy doesn’t seem to have answered your question, I’ll toss in my $.02 worth.

    In the early 90’s I worked for Intergraph, and consequently spent a lot of time in Huntsville. For a while, my family and I were seriously considering the prospect of moving there. Among the attractions were low real estate prices, lack of pollution, nice people and some of the prettiest country we’ve seen outside of the Northwest. One of the deterrents was the high taxes.

  40. 52

    Colonel Tucker "Biff" O'hanrahanrahan spews:

    re 45: Since when has the “free market solution” become ripping off the public’s money?

  41. 53

    Tree Frog Farmer spews:

    RightEqualsStupid@41 I’m not sure DarrellSucksButtPutty is married.
    The Minnow’s ‘handeedandee’ voter registration data bank lists a female of the same surname living at his address, but her dob is 5-20-38, nearly twenty years older than his sorry ass. Draw your own conclusion. . .his mother? his Aunt? his keeper?

  42. 55

    Tree Frog Farmer spews:

    @54 While that’s truly a possibility, in these circumstances that is cold,cold,cold. But thanks for asking. . .

  43. 56

    Roger Rabbit spews:

    @32 “Isn’t most of the 86% “investment returns” (out of the $9.4 billion in “income”) capital gains?”

    I don’t know, but that seems a reasonable assumption, in an economy where interest rates on savings and dividend yields are next to nothing.

    You’re certainly a pessimist, Richard. (Maybe that’s why you haven’t been more successful in your career — people tend to make their own luck, if you know what I mean.) Buck up, man! The state pension fund has consistently produced high investment returns for years, in up markets and down. Of course it’s not immune to markets, and like everyone else, the pension fund took a hit in the 2001-2003 downturn. But I would guess they tend to own investments like office buildings occupied by government tenants who keep paying rent no matter what the economy is doing. In any case, the system appears to have ample liquidity, with current cash flow needs amounting to less than 1% of current asset values.

  44. 57

    Roger Rabbit spews:

    @38 I second what Skagit says, Goldy. The best performances are those where the audience doesn’t notice the performer.

  45. 58

    Roger Rabbit spews:

    @39 Gee pudwhacker, you mean you’re actually innocent for once in your life? Okay, I’ll take your word for it this time. MWS musta done it.

  46. 59

    Roger Rabbit spews:

    @40 Show me where the state retirement system has been “raided”? It’s run by an independent board, dolt! The only control the legislature has over it is whether (or not) it appropriates funds for the employer contributions.

  47. 61

    Roger Rabbit spews:

    @47 “Do you use water-filled neoprene gloves for that ‘feeling’?”

    I never heard of that! Looks like you’re an expert on plastic sex.

  48. 63

    Roger Rabbit spews:

    54, 55 — Hmmm … Republican lives in motel, and every working girl on Aurora Ave. is registered to vote at the same motel … hmmm …

  49. 65

    ArtFart spews:

    59 I cashed out of the state retirement system 25 years ago. I’d been working in the private sector for a few years, and it didn’t look like I’d be going back to work for the state for quite a while, if ever. I was paranoid enough to be concerned that the legislature was going to get its greasy mitts on the fund…and now, a quarter of a century later and with the retirement horizon clearly visible, I’m thinking I might have been better off leaving ten years of service worth of PERS in place.

  50. 66

    skagit spews:

    I had the option and would have been given a bonus had I opted out of TERS2 and into TERS3. Sure glad I didn’t. I think they(the union probably) are actually trying to reinstate a TERS2 type retirement . . . TERS3 sort of leaves it up to the employee to invest for himself. Don’t think those who moved into it are very happy about it now. Of course, we all wish TERS1 were still around.

  51. 67

    Reckless spews:

    Liberals on HorsesAss: Did you notice gas went down another 4 cents. Now, have you seen the oil futures market? Thanks Nancy Pelosi!

  52. 68

    ABBA spews:

    Rabbit you dolt–
    The Washington State Retirement System is UNDERFUNDED by $6 BILLION. PERIOD.
    All you feeble spin attempts to make us feel better about it because all the $$ isn’t need right now is mindless at worst.
    Why isn’t Rabbit screaming?
    Because he knows Gregoire needs a smoke screen.
    How weak.
    In addition, Rabbit seems to justify underfunding saying we’ll make up for it with future earnings.
    What a joke!
    Then why do we pay actuaries to look at this at all Rabbit???
    $6 BILLION Underfunded…..and slipping. It dropped from 91% to 88% in one year you moron. In a great economy.
    Oy Vay Rabbit.
    Plain & Simple.