Posted on 04/06/2010 7:06:18 AM PDT by rvoitier
Legislation introduced last week could shift costs of union pension plans to taxpayers in an attempt to stave off organized labor’s pension funding crisis.
Senator Bob Casey, Pennsylvania Democrat, introduced the Create Jobs & Save Benefits Act of 2010 to address the funding problems faced by union-administered multi-employer pension plans.
Multi-employer pension plans have to cover the benefits of members, even if their companies are defunct.
(Excerpt) Read more at dailycaller.com ...
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.”
It HAS been discussed.........
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/04/05/financial/f180113D14.DTL
“Study: Calif. pensions underfunded by $500 billion”
If history is any guide, once they price their goods off the market, the government will step in, take the business away from the stock holders, and then run it at a subsidized loss. Meanwhile, the unions will gain semi-ownership of the business and their cush pensions will go on forever. Isn't fascism wonderful?
This entire regime is nothing more than a gang of criminals raiding the Treasury.
“The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.” —Alexis de Tocqueville.
de Tocqueville was right about something.
Casey is worthless as a Senator.
They’ll TRY anything.
repeal NLRA bump
I’ll bet dems back this one - why shouldn’t union retirees get full massive benefits while the rest of the country goes broke? Really. They’re “DEMS” - they’re special.
Would it make sense to empty out one’s 401K to pay down debt, if this thing gets passed, or before?
I know most people say that’s a no-no, but if the money’s going to be stolen anyway...
I do not think so.
If the state constitution is changed, the court wouldn’t have
a say.
What do you not think so?
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