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The trade-offs aren't worth it

JJ, if you look at the fiscal shortages being faced by these states that are paying above market wages and paying huge retirement benefits, they are in far worse shape than the Southeastern states. If you have ever lived in New York, Connecticut, Northern Jersey, Boston or Philly, you would know what a vicious cycle it is. High municipal wages and ever-increasing social programs lead to higher taxes....which means that everyone else's wages have to rise to keep pace with taxes....which increases ever company's costs of doing business....which leads to a higher cost of living as prices are raised....which leads to wages and social program spending rising again....and on it goes. Overly generous retirement plans press NYC as hard as the UAW retirees press the big three auto-makers. The difference is that NYC simply raises taxes as needed. We do NOT want to recreate the hell that is the urban Northeast. You will note that everyone is retiring and fleeing as fast as they can get onto I-95. Don't you wonder why? I lived up there - I KNOW why! There's no such thing as a free lunch. Every penny more in wages has to come from somewhere. Try to match their wages here in Wilmington and some day very soon, people will be fleeing Wilmington when they retire.


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