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Look up the term 'in the majority' and see if you can understand it.
Maybe you can try to understand that the poster I replied said "seniors vote Republican", period! That simply isn't true. Please also provide proof that the majority do.
It was passed. That is what we should be looking at.
Many retirees worked for that benefit and paid in and that benefit could be cut as much as 60%. Is this all about democrat and republican. no!.. Obama could have vetoed the bill and put an end to it but he doesn't care much for old people.. that is apparent.
Is Obama cutting food stamps, or welfare by 60%?
You started off blaming Obama, this is a bipartisan bill that he approved, still waiting to hear what the option was for an underfunded plan. It does not impact those already retired only the soon to retire. We have heard this same story over and over with various public pension funds, if someone stole from the funds lets go after them but there is little doubt they did not pay in what they are getting out. Two choices, either the tax payer make up for the shortfall or some of the pensioners take a hit.
You started off blaming Obama, this is a bipartisan bill that he approved, still waiting to hear what the option was for an underfunded plan. It does not impact those already retired only the soon to retire. We have heard this same story over and over with various public pension funds, if someone stole from the funds lets go after them but there is little doubt they did not pay in what they are getting out. Two choices, either the tax payer make up for the shortfall or some of the pensioners take a hit.
I guess you didn't read the law then. It does state that it will impact those already retired.
You started off blaming Obama, this is a bipartisan bill that he approved, still waiting to hear what the option was for an underfunded plan. It does not impact those already retired only the soon to retire. We have heard this same story over and over with various public pension funds, if someone stole from the funds lets go after them but there is little doubt they did not pay in what they are getting out. Two choices, either the tax payer make up for the shortfall or some of the pensioners take a hit.
Oh yes it does affect those already retired and receiving benefits.
That's what makes this a big deal. The cuts can be applied to those already retired up to 79 years old.
Imagine having been retired for 20 years and then having your pension cut 60% ?
Spot on 70Ford. I like your last post in that thread..."I see dots."
The PBGC reports annually to Congress.
The multi-employer pensions in question are union pensions.
They have gone from 100% funded to about 40% funded in a mere 10-12 years.
It's all right there in their annual report.
And nothing was done about it. Premiums that employers pay were not increased. The unions did nothing to reform their pension plans.
Now they are about to hit the wall of "OMG we have no more money" and who has to pay..the retirees with cut benefits.
LOL..good catch.
So the unions want to cut retirement benefits for those up to 80 years old already receiving benefits.
And they got Congress to ok it.
Another FINE example of government taking care of its citizens ...LOL.
As they say...follow the money. The unions pushed this change, not the pension investment companies.
This particular change was opposed by unions. That said, I agree that past union opposition to benefit cuts helped to put us in the position where we are now (and may necessitate greater cuts). Unions have a long history of taking short-sighted views on various issues. To some degree, this reflects human nature; individuals tend to concern themselves with the present and may dismiss or minimize longer-term problems.
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