Thursday, May 31, 2012

Psychic Income

Old time faculty who remember UC during Jerry Brown’s earlier terms as governor will get nervous when he talks about “psychic income.”

Jerry Brown on pay cut: 'I derive a lot of psychic income'

Don't expect Gov. Jerry Brown to lose much sleep over the Citizen Compensation Commission's decision to slash his salary by $8,699.  "I'd run for governor whether it was a paid job or not," he said today. "I derive a lot of psychic income." The seven-member panel, which sets pay levels for legislators and constitutional officers, voted 5-1 today to reduce pay for the elected officials by 5 percent. It will take effect in December…

If you’re not an old timer, find one and ask him/her about “psychic income” in that early-Brown era and its connection to faculty pay.  One good thing about psychic income though… It’s not taxable.

And from that very period:


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