Tax Revolt in the making

LA Times has:

Private-Sector Anger Builds as Public Pension Costs Rise: Lawmakers feel the heat from taxpayers who see their own benefits wither, and traditional payouts give way to 401(k)-style plans.

Underfunded pensions' rate is currently at 84% for the states and who knows how many for county and city retirees. As market turns negative, like the hedge fund melt down (which is worse than what they reported before and in fact being liquidated) and the underfunding may turn out to be worse than what are currently being acknowledged.

And what are being [or will be done] to cover the short fall? Do they cut back on the spending? No, instead, the state and local taxes (including property taxes) will be increased to cover the needed money. Some people are trying to push back on the tax increase but municipal unions and retirees are tough nut to crack [they tend to be vocal and strong and esp. retirees have the time to have their say], so some forms of tax increase will take place eventually.

Tax revolt anyone?