Posted on 08/03/2010 8:34:37 AM PDT by jmaroneps37
Decades of theft, mismanagement and purchasing Democrat politicians have caught up to the criminal syndicates called labor unions. With very few exceptions the pension funds of these cabals stand seriously underfunded. Union pensions are now in such poor financial condition that, “the Pension Benefit Guarantee Corporation (PBGC)[ has declared] less than one in every 160 workers is covered by a union pension with required assets.”
But make no mistake, when it comes to pension plans, some comrades are definitely more equal than others. A Hudson Institute report shows that while the mega union SEIU’s members’ plan is 75% funded, SEIU’s office workers have a plan which is 91% funded, and the unions capos plan is 103% funded!
Democrats to the rescue
Without our money, the thug unions would collapse. They know it and the Democrats know it. The Unions paid $100 million for a Democrat Congress and were still denied their dangerous dream of enslaving ALL American workers in unions through the un-American Card Check scheme.
Card Check is radioactive and just not going to happen. Nevertheless, with so many other groups turning from the Democrats, they can’t afford to lose the unions so they are trying to use $165 billion of our tax money to buy their loyalty by propping up their empty pension accounts.
To shovel money to union pension funds, Pennsylvania Senator Robert Casey has introduced the deceptively named, Create Jobs and Save Benefits Act, S. 3157 which is touted for having the support of unions and the United States Chamber of Commerce (whose members would otherwise be on the hook to fund their workers’ pensions).
This money will be doled out to the pension plans of more than one hundred major unions across the country, some of whom are less than 50% funded!.....
(Excerpt) Read more at coachisright.com ...
They control the TV and media thanks to idiots who watch TV and which helps support them.
bump
When did a million dollars become “chump change”?
When did a hundred billion become “trivial”?
The retirement funds wouldn’t be under-funded if the unions hadn’t been spending that money on political campaigns.
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