Want to help bail out a union pension fund?

Posted by $ CBJ 5 years, 5 months ago to Politics
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"The only way this is going to get settled is if the government steps in. If they helped the automobile industry, why not us?"
SOURCE URL: http://freebeacon.com/issues/teamsters-retirees-call-bailout-cash-strapped-pension-fund/

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  • Posted by freedomforall 5 years, 5 months ago
    Some day people will realize that depending on government to do the job that the family has done successfully for centuries is foolish.
    Women's "liberation" and the feminist movement supposedly made things better for women, but the result has also been the destruction of the family support system, the collapse of ethical behavior once taught within the family, and the false belief that government would successfully replace that system.
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  • Posted by dark_star 5 years, 5 months ago
    Awww, 20 whole years working and he wants to retire for the rest of his life......

    Are you kidding me? I'm going on 30 years working now and that's after 4 years in the military and 6+ years crap jobs and college.

    I'm so tired of all the "entitled" people sucking off the teat of the government.
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    • Posted by $ nickursis 5 years, 5 months ago
      Exactly, I "retired" from the Navy because they told me I had to, and I found a much better paying job, and have worked ever since. There is no such thing as "retirement...You work for health care..and to pay all the looter fees they impose.
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  • Posted by $ blarman 5 years, 5 months ago
    Sad - and even more sad because it was so predictable. Union pensions have never been properly funded - whether public or private. It's because it's just too tempting to want to use money that you have control over but isn't yours. That's why the only system that ever works is private retirement accounts.

    Thanks for posting.
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  • Posted by Kilroy 5 years, 5 months ago
    First off the government should not have subsidized the automobile industry. The next point is; why should the public be responsible for what the union screwed up on? The union has been warned for over ten years that they were headed for insolvency and did little to nothing about it, but the union leaders are doing well, thank you.
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  • Posted by bassboat 5 years, 5 months ago
    Wait until his other defined benefit plan goes under, Social Security. The only way to save it is for the worker not give his money to social security but to put that 15% into his own IRA. The money stays on his side of the table and it stays in his family. Even if he had put his money into government bonds he would today have a check that is more than double that of a check that the social security recipient gets. Take the money away from the politicians! Keep it on your side of the table. As for the folks that are too old to do that the country will have to keep up the Ponzi scheme until they are all gone. The government will benefit in the long run as an entitlement will be gone.
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  • Posted by Joseph23006 5 years, 5 months ago
    Government didn't really help the auto industry, it helped the unions out of their mismanagement of the pension fund. The Dems bought union support and votes while the rank and file paid the bills.
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  • Posted by $ prof611 5 years, 5 months ago
    I think most of you are missing the point here. The unions have plenty of money to finance their efforts to thwart Right to Work laws being proposed in many states. I am a member of the National Right to Work Committe, https://nrtwc.org/, and I keep up with the latest news in this regard.

    Here is an example of what's going on, taken from their website:

    (February, 22 2017) – The National Labor Relations Board (NLRB) has issued a complaint against the International Brotherhood of Teamsters Local 455 union for threatening workers with the loss of their benefits, discharge and a lawsuit because they circulated petitions to end forced union dues and remove the union’s business agents.

    Why are union pensions in jeopardy, when obviously there is plenty of money in the union treasury?
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  • Posted by $ nickursis 5 years, 5 months ago
    Let see here, they average payout is 1300 a month after 20 years, yet if you look at most state plans they make whatever highest salary they had when working. Hmmm Teamsters are assumed to be Dumbocraps. The people who love to run state pension funds and use them as tools for votes are known to be Dumbocraps. Maybe one group ought to tell the other group that they can't afford it. Naw..never happen. Yet, also, hasn't the Feds pushed for a social security system that uses stocks and 401K funds to pay? Isn't this an object lesson that you cannot risk pension funds in such ponzi schemes and that a safe, even if low yield, program is needed? Also maybe they ought to examine their union closely, look at salary's and how much money is sloshing around for payola and bribes and "political contributions". Wowe they had 5 million for poltical contributions in 2016, and 1-2 million for "lobbying". Nope, sorry boys, go drain your own swamp, the DC one has us occupied for the next few years...



    The looting is over, there is nothing left to take, folks. Get real.
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