May 25
Comes in bulk, union members
The Democrats want to bail out private union pension funds to the tune of…. infinity.
Although right now taxpayers could possibly be on the hook for $165 billion, the liability could essentially be unlimited because these pensions have to be paid out until the workers die.
Sorry… not interested. You’ve already cost the nation too much in productivity, lost jobs, and bailouts. Suck eggs union members.
May 25th, 2010 at 1:12 pm
Since the Pension Benefit Guarantee Corporation bails out workers in private corporation pension plans, where is the gross injustice of including union pension plans who would pay the appropriate insurance premium?
PBGC is a federal corporation created by the Employee Retirement Income Security Act of 1974. It currently protects the pensions of more than 44 million American workers and retirees in more than 29,000 private single-employer and multiemployer defined benefit pension plans. PBGC receives no funds from general tax revenues. Operations are financed by insurance premiums set by Congress and paid by sponsors of defined benefit plans, investment income, assets from pension plans trusteed by PBGC, and recoveries from the companies formerly responsible for the plans.
May 25th, 2010 at 2:54 pm
cause they only join once they know they will fail.
AND while they may not have recieved money yet, that is what this bill is about – public money.
May 25th, 2010 at 11:46 pm
“from general tax revenues”
I would point out, having no further context that the government loves tax shell games. The federal government taxes me at least 4 ways I can immediately name, only two of which are listed as “general tax revenue” in their budgets. My money is still gone.