Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don't know about you guys, but I think its not the job of the federal government to tax you and I to bailout the unions and their bloated pension plans.
Unions are nothing more then a private collective bargaining partnership between employees and their employers. If they bargain for higher wages and gold plated pension funds and generous healthcare and benefits packages, more power to them. But when their agreed to compensation falls short, why am I supposed to dig into my pocket to provide them my personal wealth?
While we are focused on Israel, Iran, the oil spill, DADT and immigration reform, our congress wants to spend billions of dollars to bailout union pensions:
You can try to read the bill, but its in legalese, so lets see the union friendly version: Senate Pension Hearing Scheduled Today | International Brotherhood of Teamsters (IBT) (http://teamsters.org/content/senate-pension-hearing-scheduled-today-counter-misinformation - broken link)
Keep in mind that the California state employees pension fund (CalPERS), is right around $500 billion in the red, for unfunded liabilities.
One article I read said the state pension for the US are in the red for almost $900 billion, and that is not even their total for unfunded liabilities.
Quote:
California’s pension and budget defaults are not isolated phenomena. All across the US state pension funds have been collapsing due to the broader economic crisis. According to the Center for Retirement Research at Boston College, state governments have run up pension fund losses totaling $865.1 billion. Assets for 109 pension funds dropped 37 percent to $1.46 trillion in the 14-month period ending December 16. By comparison, the S&P 500 fell 41 percent in the same period.
I know we are in tough economic times, but its our fault, and we need to take in the wallet ourselves, and not force our children and grandchildren to pay for our ignorance and overindulgence. I mean, come on, people thought it was okay to bargain for a retirement benefits package where they were retiring in their 40s, and for the last half of their life, collect 75%-90% of their last paycheck, plus benefits??
It's not really a bail-out. In terms of the bank "bail outs" (wrong as they were), there at least was a plan for the money to be paid back. As far as I know there is no such plan with the unions. This is a buy-off, rather than a bail out. More Chicago-style politics in action.
Its not just SEIU, AFLCIO and IBT, but its also professional baseball and football unions and I'm sure it covers the folks in the Screen Actors Guild too.
It looks as if Casey’s bill would transfer failing union pension plans to the tax-funded Pension Benefits Guaranty Corporation (PBGC), which is itself running a $35 billion deficit.
I don't know about you guys, but I think its not the job of the federal government to tax you and I to bailout the unions and their bloated pension plans.
Unions are nothing more then a private collective bargaining partnership between employees and their employers. If they bargain for higher wages and gold plated pension funds and generous healthcare and benefits packages, more power to them. But when their agreed to compensation falls short, why am I supposed to dig into my pocket to provide them my personal wealth?
While we are focused on Israel, Iran, the oil spill, DADT and immigration reform, our congress wants to spend billions of dollars to bailout union pensions:
You can try to read the bill, but its in legalese, so lets see the union friendly version: Senate Pension Hearing Scheduled Today | International Brotherhood of Teamsters (IBT) (http://teamsters.org/content/senate-pension-hearing-scheduled-today-counter-misinformation - broken link)
Keep in mind that the California state employees pension fund (CalPERS), is right around $500 billion in the red, for unfunded liabilities.
One article I read said the state pension for the US are in the red for almost $900 billion, and that is not even their total for unfunded liabilities.
I know we are in tough economic times, but its our fault, and we need to take in the wallet ourselves, and not force our children and grandchildren to pay for our ignorance and overindulgence. I mean, come on, people thought it was okay to bargain for a retirement benefits package where they were retiring in their 40s, and for the last half of their life, collect 75%-90% of their last paycheck, plus benefits??
Any representative or senator who votes for this and who acccepted union campaign contributions ought to be prosecuted for bribery.
This is not a bailout of unions. It is legislation to protect the workers from the improvident actions of their employers in failing to adequately fund the pension plans they freely contracted to provide for.
Gives one a warm fuzzy feeling just to be able to help these people out:
Quote:
After years of gambling in real estate investments, the state workers pension fund has lost more than 41 percent of its value, after peaking last fall. Its real estate holdings have dropped from $9 billion to $5.8 billion, according to the Sacramento Bee
Quote:
Originally Posted by jackmccullough
This is not a bailout of unions. It is legislation to protect the workers from the improvident actions of their employers in failing to adequately fund the pension plans they freely contracted to provide for.
Convenietly forgetting to mention the "employer" is the State of California.
Just one branch of government doing a solid for another lol
Solution is to revolt... and in the end not pay the income tax.... you are a slave... no voting will undo the mess the have created.
good luck with not paying income tax when your employer does that automatically for you.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
