Posted on 03/25/2010 7:34:29 AM PDT by FReepaholic
Having ruined the pension funds of Americans nationally through corrupt and utterly unsustainable "projections" of future growth labor unions are now targeting your money to make up the difference: One of the nation's largest labor unions, the Service Employees International Union (SEIU), is promoting a plan that will centralize all retirement plans for American workers, including private 401(k) plans, under one new "retirement system" for the United States. In effect, government pensions for everyone, not unlike the European system and regardless of personal choice.
Yes, because labor unions have done such a great job of managing their pension plans, right? Oh wait, they haven't. In fact, virtually none of them are actuarially sound, and they know it. So instead of addressing this (which would mean that workers would have to put up much more of their wages to be funneled into these funds) the SEUI is effectively advocating stealing your 401k - to cover for their outrageously rosy "estimates" on portfolio returns (which in fact have been negative over the last ten years.)
I may have been early in my "What's Broken: All Of It" Ticker about a year ago, but it also looks like I was right.
A Judge who actually read and followed the Constitution would prohibit this a “taking” under the 5th Amendment. But since the Constitution is a dead letter, I guess it won’t matter.
When are we going to have a tooth brush pool? Take a brush from the pool, brush your teeth, and then return it to the pool.
Thank you Obama and SEIU. I was concerned about the safety of my non-existant emptied out retirement funds, empty because the extra cash I’ve earned has went to taxes, insurance, and debt payments (well, plus that mispent decade . . . or was it two?).
It's U-S-S-R. USSR.
GET IT RIGHT NEXT TIME!
Okay, you say, “No.”
After showing us with the health care theft, how they are willing and able to proceed without following ANY laws, how do we stop them?
Ha! I cashed mine out in January of last year. And to be a total ass, I will apply for a government pension should they ever start one! I’ll play this system and milk it for as long as I can.
It’ll be a cold day in hell before they do this to me! As a hard working, responsible person who had the forethought to put money away for my and my family’s well being my entire working life, I am looking at my nest egg now as one of the only things keeping me from doing something rash. Touch it, and things will NOT end well. We sacrificed to save because we are responsible. I’m sorry that others weren’t as smart to do the same, but it is not my responsibility to take care of those who refuse to take care of themselves. They want a revolution, I think folks like me will be willing to give it to them!!!
the SEUI is effectively advocating stealing your 401k - to cover for their outrageously rosy “estimates” on portfolio returns (which in fact have been negative over the last ten years.)
Nevertheless, they will take what they can get. Union pension funds have been the source of union boss, raiding since time began, and how the unions remain virtually unscathed and unaffected by this grand theft, is beyond me.
Intimidation, arm twisting, beatings, murder, are the only things that make any sense.
F with my money and I’ll hunt you down like an animal....
Money isn’t going to be worth anything anyway.
Invest in a garden and rabbits.
I spent half of mine on women and cars. The other half I just wasted!
You already know the answer to this question.
make sure it hurts.
I liquidated a few weeks ago on an uptick, got some gold, siilver, seeds, and ammo. Not a lot, but enough. The rest went to short term investments.
What about guns and expensive whiskey? Those are excellent investments, too.
I think what bothers me the most is that they spent 100s’ of millions, if not billions buying their way into Washington. Now they are threatening incumbents they will pull their support for candidates that do not follow in lockstep. Where exactly are they getting this money...Maybe they pillaged the retirement accounts of their own. Perhaps they should have used all that money they are throwing around to shore up their retirement accounts? If I were a union member, I would be VERY upset.
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