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Thread: Unions allowed to cut retiree benefits rather than fix underfunded pensions

  1. #21
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    Captain Obvious's Avatar Senior Member
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    Quote Originally Posted by Professor Peabody View Post
    Eventually they will be converted to 401(k) accounts. That will assist Democrats in NOT over regulating as it will damage their retirement nest eggs.
    Then they can join the rest of the world who don't have the luxury of defined benefit plans.

    Unions are nothing more than legalized racketeering, for the most part. Some industries like coal mining still need unions because of the failure of the government to effectively regulate those industries.

    But food unions? Total scam.
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  3. #22
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    Quote Originally Posted by exotix View Post
    I notice the usual conservatives are whining and complaining about Dems ... usually guilty juveniles throw tantrums to throw blame on somebody else.



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  5. #23
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    Quote Originally Posted by exotix View Post
    I notice the usual conservatives are whining and complaining about Dems ... usually guilty juveniles throw tantrums to throw blame on somebody else.

    Any specific examples and counter points, or are you just trolling again?
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    exotix's Avatar Senior Member
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    Quote Originally Posted by Peter1469 View Post
    Any specific examples and counter points, or are you just trolling again?
    That would be like asking where unions don't exist.

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    Quote Originally Posted by Professor Peabody View Post

    In 2012, 28 union bosses were paid more than $500,000, that's more than the President of the United States.
    In 2013 Charif Souki, CEO of Cheniere Engergy, Inc. was paid at least $141,949,280 in compensation; wouldn't you say it's quite a bit more then the highest paid union "Boss" in America???

    And you know why he is guaranteed to be paid that much money? Because he is under contract to be paid what is stipulated, in addition to his other guarantees such as medical, stock options, severance pay and other perks as outlined in his contract.

    My question to you is: If Charif Souki needs a labor contract, how come the average worker doesn't need one??

    http://www.aflcio.org/Corporate-Watc...hest-Paid-CEOs
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    Quote Originally Posted by gamewell45 View Post
    In 2013 Charif Souki, CEO of Cheniere Engergy, Inc. was paid at least $141,949,280 in compensation; wouldn't you say it's quite a bit more then the highest paid union "Boss" in America???

    And you know why he is guaranteed to be paid that much money? Because he is under contract to be paid what is stipulated, in addition to his other guarantees such as medical, stock options, severance pay and other perks as outlined in his contract.

    My question to you is: If Charif Souki needs a labor contract, how come the average worker doesn't need one??

    http://www.aflcio.org/Corporate-Watc...hest-Paid-CEOs
    Maybe they both suck.
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    Quote Originally Posted by exotix View Post
    That would be like asking where unions don't exist.
    Noted.

    Trolling again.
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    Quote Originally Posted by Common View Post
    401ks have always been a big risk, you never know whether they will be up or way down when your ready to retire. People have had to delay retirement in recent years in the hopes their 401k went back up. Lets not forget people who have lost their entired 401ks AFTER they were already retired and collecting. Worldcom and Enron employees.
    Exactly! If Public Sector employees had 401(k)'s they'd be less likely to get real stupid with regulations lest they damage their own retirement.
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    Quote Originally Posted by Peter1469 View Post
    No.

    I suspect that at some point when the egg heads in DC realize that our debt and unfunded commitments are unserviceable they will seize private retirement accounts and convert them into bond funds (US debt instruments). These concepts have been floated. It first came to my attention in the 2008 election cycle. A few years later a professor testified before congress about this option to handle the debt and keep SS alive.
    So would it be reasonable to try to cash it out?

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    Quote Originally Posted by Peter1469 View Post
    People make money over time in the markets - it is rare for the crashes that screw retirees. If we privatized SS and had some insurance plan to protect people in the crashes everyone would be much better off.
    "Some insurance plan". That's SS.

    The well off need only to pay their share if they want to continue to take benefits. (Remove the cap)
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