Denver pays their officers and teachers just fine....and perhaps well.....and perhaps very well.
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But Denver needs to keep paying their officers and teachers fine, well, and very well if they want to both attract and keep the "best and brightest for the buck" that they can get.
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If they pay bottom dollar, then that is what they will get: Bottom dollar cops and bottom dollar teachers while the better ones go elsewhere for better pay and better working conditions.
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Denver doesn't have to pay "top dollar"....but Denver must pay enough to be and remain competitive in a field of all the other law enforcement agencies and school districts that are also competing for the same applicants to apply to them.