H*** No.
I think the headline should read:
Unions want to dump Taxpayers pensions on Unions
They want our 401(k) funds like a heroin addict wants his fix..........
A while back Glenn Beck showed a chart of plummeting SEIU pension funds that correlated perfectly with Andy Stern taking over. Personally I think forcing the taxpayers to pick up the tab was the intent all along.
Another direct transfer of wealth from US taxpayers to union parasites. Hope and Change.
You’ve got to be kidding me? WHEN will people realize that labor unions have becaome partisan political activist groups? Just look at the mining accident in WV yesterday. That mine was cited in the past for not being safe. Did the United Mine Workers Union do anything to improve workplace safety for their members, or just take their dues money to campaign for democrats? It’s maddening!!!
What was contributed
What was it's actual ROI
Minus what was borrowed and spent on worthless crap.
The rest is what you get to retire on.
Deal with it.
This makes your SS contributions look great until you get to the third line where you realize that the US Gov has borrowed and spent it all leaving you with nothing.
This November you get to "deal with it."
Unions for the most part outlived their usefulness 30 years ago. Now they just soak up money from both ends, the government and the workers.
My guess is the federal pensions are the safest with the military and especially VA payments being at the top of the list. It would require quite a bit of chutzpah to start reducting thouse directly, although there are certainly other ways to indirectly reduce pensions and benefits.
unions are scams.
i had a ups driver recently tell me
“it’s all bushes’ fault’.
not to mention,
unions are morons.
How long do unions, who have priced their goods/services out of the market, think they’ll be able to continue leaching off the dwindling ranks of producers in this country?
“More interestingly, pension funds of union staff and officers are well-funded — in the 90-plus percent range — while the funds of labor’s rank and file suffer.”
The rank and file should be hunting union administrators down in the streets like the vermin they are.
They did this in Oregon and then after we tried to get rid of it, the state Surpreme Court said it was a contract and couldn’t be repealed.
Learn from CA and OR...”Just Say NO!”
In my view unfunded pension liabilities is the giant elephant in the room. Public pension liabilities need addressing pronto. In my view caps on the amount need to be implemented - equivalent to the maximum social security payout or the actuarial value of the contribution. The fiscal stupidity of a % of highest year salaries has to go. The same goes for private sector union pensions. No bails out without a switch to defined contribution plans.
I thought the PBGC already did this.
Put “everything on the taxpayer crap” is going to blow up!
Why? Why not just make them sign up for welfare instead? They support the party of welfare, so why not just equalize the playing field among democrats? What would they, of all people, have against getting on welfare? Do they think they're somehow better than their fellow Oboma supporters?
So, they are having a problem paying for the rich defined benefit plans they used their power to demand from industry - then put the companies out business with their costs and are stuck. Well you know what they say about paybacks. If it was a company’s pension plan the unions would complain about CEOs salaries and force them to pay. Since they run these plans now, they have no one to blame but themselves. Guess what, those corporate profits you complain about were funding the stock prices in your investment portfolio for the pension. Government isn’t bailing out my 401k losses. After all, the pensions could have all been invested in government securities, but I guess the unions got ‘greedy’. Here is a solution - suck it up and just raise your union dues to cover it or cut benefits.
Just as every cop is a criminal, and all the sinners saints . . .
Casey, in the finest tradition of Democrats including Hussein, is attempting to buy the union vote.
Just like Hussein did, and then he delivered big time, with the $787 billion “stimulus.”