Union slush funds, Union pensions, Democrat bailouts
Union Bosses Blow Pension Funds on Politicians - Now Want Government Bailout
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The election cycles of 2006 and 2008 cost the labor unions many, many millions of dollars to get all those liberal Democrats elected and reelected to Congress and the presidency.
Where did those bribe bucks come from? Were they in some union slush fund? Do you suppose that all those bribes came out of the pension fund money that the suckers, er, members paid into for retirement benefits? It is becoming common knowledge that the various union pension funds may not be there when Joe or Jane ‘lunch pail’ retires.
That is why the union bosses are banging on the doors of all of the liberal Democrats’ looking for payback; payback in the form of “stimulus” or “bailout” tax dollars for getting them elected plus unfair legislation that would take away the secret ballot when union strong-arm tactics are needed to increase membership numbers.
Now if the truth were really known, those libs would most likely have been elected and reelected without all those bribe bucks being paid out given the anti-establishment atmosphere and animosity against the incumbent Republicans at that time.
Strangely enough, this attitude of the public against the GOP office holders was principally due to the simple fact that the Republicans had been acting like liberal Democrats and growing government in antithesis to the normal practices of that Party.
The union bosses weren’t smart enough to realize why the public was so down on the Republicans so they spread bribe bucks around like a drunk on payday. The liberal Democrats did in fact take back both houses of Congress and the presidency as well. But it could have been done just as easily without breaking the bank, or more truthfully, the union members’ dues and retirement funds.
Now, four years later, the union bosses are getting restless as the awareness of their financial follies is becoming known to union members who are nervously nearing retirement with the possibility that there will not be enough available to make those monthly payments.
The drum beat Obama must be hearing has got to be nerve-wracking “Hey Man, we put you in that big white house, now get these deals into law so we can get our money back. Retirement funds are almost gone.” And Congress is also being lambasted by the same union boss voices. “Get these pay-back plans moving in Congress and send them to Obama for signing into law. We NEED that money.”
The two plans the union bosses have working are the “Create Jobs and Save Benefits Act of 2010” (CJSBA) that Sen. Bob Casey (D-PA) has introduced that would create a new fund of taxpayer dollars just for bailing out the dwindling union member retirement plans; and the “Employee Free Choice Act” (EFCA) which takes away the secret ballot for organizing new unions.
The first thing these union bosses want is the CJSBA “bailout” money that Obama can just give to them out of unspent stimulus on newly established slush-type funds. Considering the simplicity of the other bailout plans, that will be the easiest one to obtain and with the almost total absence of paper tracking and bookkeeping on those funds, these union bosses can spend it any way they want. But they know that they had better refill the pension funds and SOON.
Then comes the legislation that tells a lie just in the title of the bill: “Employee Free Choice Act” (EFCA) when in fact is will be the “Employee Forced Choice Act” by taking away the traditional American way of fairness ‘Secret Ballot’ from union members and forcing them to just sign a card that a union goon (like a Black Panther) will shove in their face and demand their signature.
However, anti forces are not sitting on their hands and a top economist is warning Congress that these bills would create a ‘Ponzi scheme as bad as Bernie Madoff’s’ as Christopher Neefus, CNSNews.com reports on September 05, 2010 by citing Ms. Diana F. Roth, a former chief economist in the U.S. Department of Labor that “implementing card check (EFCA) would allow unions to swell their ranks with new members who would have to be signed up and pay money into failing union pension plans.
“It shouldn’t be allowed. It’s a ponzi scheme as bad as Bernie Madoff, the new union members could be entered into a multi-employer plan that is badly under-funded, and the wages they would pay into the fund would not go toward their own retirement, but would likely go to fulfill liabilities already owed to new and existing retirees.”
Mr. Neefus of CNSNews.com said that Ms. Roth went on to explain that “the most recent data shows nearly a quarter (24 percent) of union-run multi-employer plans were ‘endangered,’ meaning that they only had assets to pay 65 to 80 percent of their liabilities. And if by any chance the Employee Free Choice Act should pass - which I very much hope it won’t - there should be a law against putting new members’ funds into under-funded pension plans.”
These two union schemes that are unfair first to American taxpayers by using their tax dollars to pay back the unions for their misuse of union members dues to help get liberal Democrats elected and the second to take away the secret ballot and pressure new employees to check off a card (card check) to join the union, should be rejected by Congress.
Let your Representative and Senators know that you are opposed to BOTH of these schemes that will only benefit union bosses while penalizing the American taxpayer and new employees in the work place.Jerry McConnell -- Bio and Archives | Click to view Comments