Pension funds are insolvent. 401Ks and IRAs are joined at the hip to the stock market.
The incredibly overvalued markets today are based on lies and manipulation.
Mmmmmm.... taxpayers?
Pension funds are insolvent. 401Ks and IRAs are joined at the hip to the stock market.
The incredibly overvalued markets today are based on lies and manipulation.
The PBGC. But who’ll bail out the PBGC?
Three words: RETIREMENT FAIRNESS ACT.
This is where some creative political jujitsu can set Democratic constituencies against each other. For example, provide for a bailout that requires any participating state to sell off all publicly owned utility systems and put a large share of the proceeds into public pension fund obligations. Then raid the over-stuffed endowments of the Ivy League for additional funds. Be blunt that the goal is wealth redistribution from the Ivy League to save the pensions of ordinary people. Even if Bernie Sanders resisted, his supporters would find such proposals to be political catnip. Act surprised that any Ivy League university might oppose such measures.
Need look no further than Chicago and Rahmbo’s solution to the crisis of $3.45 being paid out in pension benefits for every $1.00 coming in. Onerous taxes. 30% property tax increase wasn’t even close to cutting it. Now, Rahmbo is proposing a huge increase (over 4 years) in water rates. WATER! When a government can tax a majority of people out of the basic essentials of life (food, water, shelter) to benefit a minority of people (civil service workers - teachers, cops, fire, and all manner of government wogs) revolution/civil war cannot be far behind. Watch Chicago carefully. As it goes, so goes the nation. And, to those privileged pensioners living fat off the struggle and sweat of everyone else, I say, “Be afraid. Be very, very afraid.”
NO BAILOUTS FOR ANY UNION THAT HAS GIVEN
POLITICAL CONTRIBUTIONS!!!
Period.
Let the members fire the goons!
Rich Union Bosses?
I guess they gave too much money to Democrat politicians.
Got a mirror?
This makes me smile——
I had the misfortune to have to join the Teamster’s union when I was working in a job in about 1966.
I can clearly remember how angry I was when out monthly Union Dues were raised by $1 each month to help pay for Hoffa’s attorneys——those scumbags who were being paid to defend him for STEALING the PENSION FUND MONIES in the first place.
It felt like paying for my husband’s divorce lawyer!!!
The Tenth Amendment most certainly applies here!
Does the Constitution SPECIFICALLY give the government the power to control pensions, or bail them out? If so, then please cite the exact Article and Clause where that power is expressed.
(No, not if any “law” passed by Congress allows it ... they’ve passed hundreds if not thousands of laws that violate Constitutional limits.)
Under the Tenth Amendment, if the Constitution DOES NOT give that power to the feds, then that power belongs to the states or to the people. Period. Full stop.
Next recession, another “Stimulus” will fill up their coffers.
"Our" pension promises?
I think the wife and I will look up a lawyer next week and sign contracts guaranteeing each other $100,000 a year in retirement. (I'm being modest here.) We'll send Bernie the bill.
No bailouts for unfounded Union perks! No more taxpayer bailouts!
I have posted this before. Nothing will change until the money runs out.
What caused the money to run out for USSR?