Union Bailouts Next

June/05/2010 14:20PM
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Obama bailed out the UAW at the expense of shareholders, retired salaried employees, and creditors when he illegally took over GM and Chrysler and struck a sweetheart deal with the UAW.

Mark Levin claims the unions are going to spend record amounts in the fall elections supporting left-wing union supporters. More than $100 million, which Levin claims are largely illegal contributions. As non-profits, the unions are prohibited from making political contributions. He has alerted the IRS and requested audits of all the major unions to see whether they violated the law. The NEA has been audited in the past and found to be guilty of improper contributions. So, the unions have plenty of money to foster their causes with like-thinking politicians. But, they don’t have money to fund their pension funds. No problem, just go to some politicians you bought an elected office for and ask for help. Help from your tax dollars.

Bob Casey, Senator from Pennsylvania must be one. He is sponsoring a bill called, Create Jobs and Save Benefits Act. It would The bill would use your tax dollars to shore up the tens in billions of shortfall in the Pensions Benefit Guaranty Corporation, a government fund. The Labor Department listed 230 employer funds in 2008 that were endangered( less than 85% funded) or critical( less than 65% funded).

The unions have been poor stewards managing the pension funds. (can you say skimming?) Unions take care of voting members and give second shrift to non-voting retirees. They have multi-employer funds that requires unions in business to pick up the tab for those who go out of business. Mr. Casey’s bill would put a limit on these payments to orphaned workers of five years. After that the payments would come from the government fund. In 2006 Congress passed the Pension Protection Act requiring companies and unions to get their pension plans in order. Specifically, they were to lower benefits, increase contributions, and raising retirement ages. The unions have ignored the act, since there is no real penalty.

If you find this effort outrageous, you are probably in the majority.

Want yet another reason to vote out any politician who is so tied to the unions he will sell-out the rest of his taxpaying constituents, this may be the one. Campaign money and union votes trump common sense and non-union voters. There are not enough union members to elect anyone in this country. If your Senator or Congressman is a Union Man, vote him out and let him drive a truck for the Teamsters. Maybe he can find Jimmy Hoffa. No, driving a truck in good, hard, honest work, no company would hire a politician.

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