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CALIFORNIA: SEIU Local 1000 president supports retirement for all
SacBee: The State Worker ^ | 5/8/12 | Jon Ortiz

Posted on 05/08/2012 3:10:27 PM PDT by SmithL

Risky retirement plans aren't doing right by U.S. workers, SEIU Local 1000 President Yvonne Walker says in a CNN.com piece published today, and she thinks a California retirement-for-all bill is a "step in the right direction."

Walker's op-ed item refers to Senate Bill 1234, by Sen. Kevin de León, D-Los Angeles, which would establish a state-administered retirement fund for private-sector workers.

(Excerpt) Read more at blogs.sacbee.com ...


TOPICS: Business/Economy; Government; US: California
KEYWORDS: freemoney; goldenstate; unionthugs

1 posted on 05/08/2012 3:10:38 PM PDT by SmithL
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To: SmithL

What? Everybody gets to retire right now?

I could go for that.


2 posted on 05/08/2012 3:12:27 PM PDT by moovova
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To: SmithL
establish a state-administered retirement fund for private-sector workers

So the politicians can steal from it!

3 posted on 05/08/2012 3:14:38 PM PDT by Argus
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To: Argus

Politicians, and union bosses.


4 posted on 05/08/2012 3:15:36 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: SmithL

I want a unicorn that craps skittles too...


5 posted on 05/08/2012 3:16:55 PM PDT by Kozak (The means of defence against foreign danger, have been always the instruments of tyranny at home JM)
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To: SmithL
A state grab for money as California government retirement plans are all insolvent and will default.

Grab the cash from solvent private plans.

6 posted on 05/08/2012 3:17:37 PM PDT by Navy Patriot (Join the Democrats, it's not Fascism when WE do it and the law is what WE say it is.)
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To: SmithL
would establish a state-administered retirement fund for private-sector workers.

What a great idea! Kind of like SS, what an awesome program that has turned out to be! Plus, they can start withholding taxes from everyone to pay for it and put the excess reserves in a lock box so no one from government can ever misuse the funds!

This sounds great!

schu

7 posted on 05/08/2012 3:18:01 PM PDT by schu
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To: SmithL

At this rate it won’t be a problem as there won’ t be any private employers left in California.


8 posted on 05/08/2012 3:19:35 PM PDT by Kozak (The means of defence against foreign danger, have been always the instruments of tyranny at home JM)
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To: Kozak

a white hispanic would just shoot it.


9 posted on 05/08/2012 3:19:35 PM PDT by TurboZamboni (Looting the future to bribe the present)
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To: moovova
What? Everybody gets to retire right now?

No, most in the private sector have zip, zero retirements outside of Social Security. And the government looted that too.

This is due to 10+ years of private sector stagnant wages, stripped benefits, lost careers/jobs, cut hours, massive unemployment, all while the cost of everything skyrocketed.

10 posted on 05/08/2012 3:20:16 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Argus
establish a state-administered retirement fund for private-sector workers

So the politicians can steal from it!

That way they don't have to call it a tax and they STILL can steal our hard earned labor.

11 posted on 05/08/2012 3:20:34 PM PDT by EGPWS (Trust in God, question everyone else)
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To: SmithL
It is so much easier to convince people to buy the bonds of a nearly bankrupt state when you can do it at gunpoint.
12 posted on 05/08/2012 3:21:08 PM PDT by KarlInOhio (You only have three billion heartbeats in a lifetime.How many does the government claim as its own?)
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To: SmithL
establish a state-administered retirement fund for private-sector workers.

FDR did that and it's going bust.
How about , and I'm just spitballing here, if I take my own $$$ and put it into an account that only I can access. Here's the fun part: What if every cent I put into this account was put in before taxes, and it grew interest, tax free.
hmmmmm could something like that work??? NAAAAAH!!!!

13 posted on 05/08/2012 3:22:24 PM PDT by YankeeReb
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To: SmithL

Awesome idea. I keep hearing that Ca. has so much surplus money floating around they can’t find enough uses for it. I guess theis will help with that little problem.


14 posted on 05/08/2012 3:23:21 PM PDT by Cementjungle
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To: SmithL
Let's see if I get this, the SEIU 1000 chief wants everyone, including all PRIVATE employees, to be covered by a state retirement system? So the state will collect retirement money from every one (except illegals and those not paying taxes), manage this money wisely, grow the money with sound investments, and then pay a good retirement annuity to every Californian when they're ready to retire.

This program is going to be administered by the same politicians who have bankrupted the Golden State? What could go wrong? Is the state going to confiscate 401 (k) plan monies or IRA;s to lard-up their coffers? What about the unfunded public employees? Are they going to steal the private sector money to fund the insolvent plans? Just asking.

15 posted on 05/08/2012 3:25:53 PM PDT by MasterGunner01 (11)
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To: SmithL

I LOVE this plan!!!!!

Progressives all believe that they have outgrown the superstition of belief in a higher power.

But they haven’t.

They believe in the Money Faerie!


16 posted on 05/08/2012 3:37:12 PM PDT by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
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To: moovova

Sign me up.


17 posted on 05/08/2012 3:38:12 PM PDT by Cyber Liberty (Obama considers the Third World morally superior to the United States.)
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To: SmithL
"...state-administered..."

Code for; "Additional slush fund for pet democRAT projects".

18 posted on 05/08/2012 3:42:49 PM PDT by SZonian (Throwing our allegiances to political party's in the long run gave away our liberty.)
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To: SmithL

Just another reason why CAlifornia has gone down the toilet.....

I am sorry that the rest of the country will be called on to bail out this pathetic dregs of humanity


19 posted on 05/08/2012 3:54:52 PM PDT by Nifster
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To: SmithL

sounds like another government ponzi scheme to take money from the citizens so politicians can then scam the pot


20 posted on 05/08/2012 3:58:22 PM PDT by drypowder
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To: SmithL

Here it comes; sniffing around private retirements to pilfer. Maybe the collapse is truly closer than I thought..


21 posted on 05/08/2012 4:13:51 PM PDT by Michael Barnes (Obamaa+ Downgrade)
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To: SmithL

We have a public sector pension disaster in the states right now.

They just want something like this so the state can steal from it to support the public sector pensions.


22 posted on 05/08/2012 4:13:51 PM PDT by headstamp 2 (Liberalism: Carrying adolescent values and behavior into adult life.)
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To: SmithL

the only problem is sooner or later they will stop he pension and you will either end ip a slave or dead.


23 posted on 05/08/2012 4:23:24 PM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: SmithL

retirement benefits I assume will continue to cover care for surviving pets. This benefits the whole community who won’t have to shoulder the costs of caring for homeless pets. In the long run the state will save bundles of money. A fraction of the profits from high speed rail should more than cover this program.


24 posted on 05/08/2012 4:32:15 PM PDT by Joan Kerrey
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To: moovova

Ask the Greeks if this will work?


25 posted on 05/08/2012 4:38:13 PM PDT by ptsal (E)
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26 posted on 05/08/2012 5:38:57 PM PDT by RedMDer (https://support.woundedwarriorproject.org/default.aspx?tsid=93)
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To: ptsal

Not necessary.

There ain’t no free lunch. :-)


27 posted on 05/08/2012 6:28:39 PM PDT by moovova
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To: SmithL

She’s mentally retarded and doesn’t understand the first thing about economics. It’s pathetic that people even listen to what she has to say.


28 posted on 05/08/2012 7:17:13 PM PDT by sanjuanbob (Festina Lente)
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