ABF | Butch Lewis Act

canaryinthemine

Retirement....The Job I Was Born To Have!
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O.K. guys,.....this is it,....the Big Push to get your Senator onboard with pension relief. The Supercommittee is supposed to rule on the Butch Lewis Act...S.2147....by November 30th.

The CBO has said that funding the pensions through that Act would cost the Government(TAXPAYERS) $34 billion,...as opposed to a mandated $100 billion to bail out the already underfunded Pension Benefit Guarantee Insurance fund.......(..deliberately underfunded over the years..)...

So,....We save money through this Bill. So,.....there SHOULD be heavy bi-partisan support for ....saving taxpayer money...

The 'usual suspects" have lined up against this Bill,...calling it a "bailout". The American Heritage Foundation, and ALEC,...or the American Legislative Exchange Council are both against it..(..they were both for the Wall Street bailout..)...
But the Chamber of Commerce has "defected" from the Big business standpoint,...and supports passage of this Bill.......

Trying to keep politics out of this,.....but NOW is critical to contact your Senator and urge passage of this Bill ..S.2147. Bi-partisan support is needed,...and your Senator needs to urge President Trump to pass it , too.....once it hits his desk.

Call 'em up,.....text 'em......Twitter 'em......whatever you're comfortable with,......but do it soon! Let's rescue that Pension promise that was made to us many decades ago!
 
There is a saying here in the hills that "Politics makes strange bedfellows". The Chamber of Commerce which usually opposes anything labor unions support, (although they are a union) has come on board.


Good Grief! That's Apostasy!........To couple the Chamber of Commerce to.....Unionism!

.....(....although their methods of gathering disparate groups of businessmen and women together for a common purpose for their common good and welfare....looks suspiciously like...Unionism!...).....

Remember that when your boss tells you that "You don't need a Union..."
Apparently he,...and his boss,.....does.........
 
O.K. guys,.....this is it,....the Big Push to get your Senator onboard with pension relief. The Supercommittee is supposed to rule on the Butch Lewis Act...S.2147....by November 30th.

The CBO has said that funding the pensions through that Act would cost the Government(TAXPAYERS) $34 billion,...as opposed to a mandated $100 billion to bail out the already underfunded Pension Benefit Guarantee Insurance fund.......(..deliberately underfunded over the years..)...

So,....We save money through this Bill. So,.....there SHOULD be heavy bi-partisan support for ....saving taxpayer money...

The 'usual suspects" have lined up against this Bill,...calling it a "bailout". The American Heritage Foundation, and ALEC,...or the American Legislative Exchange Council are both against it..(..they were both for the Wall Street bailout..)...
But the Chamber of Commerce has "defected" from the Big business standpoint,...and supports passage of this Bill.......

Trying to keep politics out of this,.....but NOW is critical to contact your Senator and urge passage of this Bill ..S.2147. Bi-partisan support is needed,...and your Senator needs to urge President Trump to pass it , too.....once it hits his desk.

Call 'em up,.....text 'em......Twitter 'em......whatever you're comfortable with,......but do it soon! Let's rescue that Pension promise that was made to us many decades ago!

Nice idea but this will never happen. Every union will line up for this corporate welfare, Chicago Teachers, Steelworkers etc.....
Taxpayers will not be on the hook for this mismanagement. The teamsters had close to 100% of this industry, they screwed it up...
Besides every company that received a 'bailout' paid it back, except GM. We just received their tanks this week.....
Can the taxpayer expect a payback from this corporate welfare??????
I have a vested interest in this, but the reality is it's not the taxpayers issue...….
 
Nice idea but this will never happen. Every union will line up for this corporate welfare, Chicago Teachers, Steelworkers etc.....
Taxpayers will not be on the hook for this mismanagement. The teamsters had close to 100% of this industry, they screwed it up...
Besides every company that received a 'bailout' paid it back, except GM. We just received their tanks this week.....
Can the taxpayer expect a payback from this corporate welfare??????
I have a vested interest in this, but the reality is it's not the taxpayers issue...….


Taxpayers will always be “on the hook” for Congress’s blunders. Look at TARP funds and the Wall Street bailout of 2009......

The Butch Lewis Act......S.2147.......is a low interest, long amortized loan that matures in 30 years. Any fund taking advantage of this will immediately start paying it back to the Government,....albeit at a very low rate.
Accessing this loan gives the funds the breathing space they need to allow demographics to....catch back up with them....

Besides,....as I stated,.....the Federally-mandated Pension Benefit Guarantee Insurance fund will require.....by law....three times as much funding as the Butch Lewis Act.
Congress deliberately underfunded the PBGI.....on the advice of their Big Business donors,.....who did not like paying insurance premiums to keep those stinky worker’s pensions safe....

Time for Congress to fix their ill-advised strategy........or create long-term, drawn-out, prolonged misery at three times the cost....

Which strategy better serves the taxpayer?
 
O.K. guys,.....this is it,....the Big Push to get your Senator onboard with pension relief. The Supercommittee is supposed to rule on the Butch Lewis Act...S.2147....by November 30th.

The CBO has said that funding the pensions through that Act would cost the Government(TAXPAYERS) $34 billion,...as opposed to a mandated $100 billion to bail out the already underfunded Pension Benefit Guarantee Insurance fund.......(..deliberately underfunded over the years..)...

So,....We save money through this Bill. So,.....there SHOULD be heavy bi-partisan support for ....saving taxpayer money...

The 'usual suspects" have lined up against this Bill,...calling it a "bailout". The American Heritage Foundation, and ALEC,...or the American Legislative Exchange Council are both against it..(..they were both for the Wall Street bailout..)...
But the Chamber of Commerce has "defected" from the Big business standpoint,...and supports passage of this Bill.......

Trying to keep politics out of this,.....but NOW is critical to contact your Senator and urge passage of this Bill ..S.2147. Bi-partisan support is needed,...and your Senator needs to urge President Trump to pass it , too.....once it hits his desk.

Call 'em up,.....text 'em......Twitter 'em......whatever you're comfortable with,......but do it soon! Let's rescue that Pension promise that was made to us many decades ago!
If it puts all the members on Medicare and deducts their Social Security from their pension, then I'll support it.
 
If it puts all the members on Medicare and deducts their Social Security from their pension, then I'll support it.


Ahhh......All the pain and penalty placed on the working people.......With no consideration toward the short-sightedness of Congress and the endemic greed of Big Business.........and their complicity in creating this crisis.......

Can you tell me exactly,.....where you consider the participants in these funds,....to be wrong in their choices or decisions?

Do you consider retirees to be.......responsible.....for this mess?

Nothing to do with deregulation lobbied for by Big Business, and passed by Congress,...in spite of dire warnings by just about all Labor groups?

Nothing to do with Wall Street colluding with Congress to de-fund PBGI,....and refusing to pass legislation forcing "bankrupt" companies to pay pension obligations first, before all other creditors?........or forcing CEO's who re-open as a non-Union entity to shed their obligations to pension funds....(...as in Hostess Bakeries...).....to resume responsibility for what they promised to pay?

You appear to have swallowed Big Business's bait....hook, line, and sinker......

Wall Street HATES the "market power" of large blocks of stocks being held by Labor -funded pension funds......and spent the last few decades trying to wreck ALL Multi-Employer pension funds......Would you agree with that?
And....if you did,....would that alter your version of who might be ..."responsible"....for the failure of many pension funds.....?

....(.....and if so,....let's not even talk about how many banks and hedge funds that got rescued by taxpayer money in 2009,....not to mention GM, Chrysler, and other major companies.......remember "Too big to fail..".....?....).........
 
Ahhh......All the pain and penalty placed on the working people.......With no consideration toward the short-sightedness of Congress and the endemic greed of Big Business.........and their complicity in creating this crisis.......

Can you tell me exactly,.....where you consider the participants in these funds,....to be wrong in their choices or decisions?

Do you consider retirees to be.......responsible.....for this mess?

Nothing to do with deregulation lobbied for by Big Business, and passed by Congress,...in spite of dire warnings by just about all Labor groups?

Nothing to do with Wall Street colluding with Congress to de-fund PBGI,....and refusing to pass legislation forcing "bankrupt" companies to pay pension obligations first, before all other creditors?........or forcing CEO's who re-open as a non-Union entity to shed their obligations to pension funds....(...as in Hostess Bakeries...).....to resume responsibility for what they promised to pay?

You appear to have swallowed Big Business's bait....hook, line, and sinker......

Wall Street HATES the "market power" of large blocks of stocks being held by Labor -funded pension funds......and spent the last few decades trying to wreck ALL Multi-Employer pension funds......Would you agree with that?
And....if you did,....would that alter your version of who might be ..."responsible"....for the failure of many pension funds.....?

....(.....and if so,....let's not even talk about how many banks and hedge funds that got rescued by taxpayer money in 2009,....not to mention GM, Chrysler, and other major companies.......remember "Too big to fail..".....?....).........
Now here is a man who knows what he is talking about. Canaryinthemine, some people will never admit to the truth of this pension matter because they hate union people and are jealous of what we had the guts to fight and work for. Just my opinion and I expect many others toexpress theirs too.
 
Now here is a man who knows what he is talking about. Canaryinthemine, some people will never admit to the truth of this pension matter because they hate union people and are jealous of what we had the guts to fight and work for. Just my opinion and I expect many others toexpress theirs too.


Thank you, Sir......for the kudos.....I’d like to say I’m blushing over the compliment.........but I’m way too old to blush about anything anymore........
Besides, if I had a rosy flush on my cheeks......at my age, they’d be rushing me to the emergency room......

But that’s always been the problem.......that the corporate people find it very easy to instill jealousy into the workforce........where they can get working people to wish ill on other working people.....

That’s where we get the common meme about the “lazy Union man”........
Funny.......the Union doesn’t hire or fire........the company is the one that hired the so called “lazy” person....
 
Could you please explain your reasoning for this opinion?

I am honestly curious about his answer, too. I think he spoke(posted) without thinking it through,....because he is a working person,.....I presume,.....too, and he is promoting the Business philosophy of removing as much of the social safety net as possible, to force as many people as possible to work as long as humanly possible.....

This philosophy plays well into the profits of businesses,....as the more people that are forced into,..or back into,...the Labor pool,.....the cheaper the wages are.....

Supposed to be a Government of the people...........not a Government for Business to dribble crumbs on the people,...at their discretion........

We would be happy to open a dialogue with you, Bro. dsh69,......without acrimony or insults,....to explain our position regarding whether Government should rectify any legislative errors in the past, that results in pain and poverty in the immediate future.
 
I can explain it for you, he is envious of my lavish lifestyle, I'm already on Medicare.



Oh,....I can only hope for that Glorious day when I can access Medicare......Coming soon,...in a couple of months!

I will be treated like Royalty in every Doctor's office in America,.........and my wallet will fatten with the premiums I no longer have to pay to private insurers so their CEO's can afford this year's Mercedes model....

I will strut like a King into any hospital,...with orderlies and nurses bowing to my every whim..........
 
Could you please explain your reasoning for this opinion?
I am honestly curious about his answer, too. I think he spoke(posted) without thinking it through,....because he is a working person,.....I presume,.....too, and he is promoting the Business philosophy of removing as much of the social safety net as possible, to force as many people as possible to work as long as humanly possible.....

This philosophy plays well into the profits of businesses,....as the more people that are forced into,..or back into,...the Labor pool,.....the cheaper the wages are.....

Supposed to be a Government of the people...........not a Government for Business to dribble crumbs on the people,...at their discretion........

We would be happy to open a dialogue with you, Bro. dsh69,......without acrimony or insults,....to explain our position regarding whether Government should rectify any legislative errors in the past, that results in pain and poverty in the immediate future.
He drives for fed ex freight, sound's like a disgruntled past union member who has an ax to grind....
 
Oh,....I can only hope for that Glorious day when I can access Medicare......Coming soon,...in a couple of months!

I will be treated like Royalty in every Doctor's office in America,.........and my wallet will fatten with the premiums I no longer have to pay to private insurers so their CEO's can afford this year's Mercedes model....

I will strut like a King into any hospital,...with orderlies and nurses bowing to my every whim..........
Really???, that sounds so glorious LOL. When I retire (75yrs old) I plan on not getting sick and never needing to use the hospital. That way I can help all the poor taxpayers (of which I am definitely one) out by paying and never getting (our pension and probably social security) any benefit from my payments........sorry, I was very much hoping the pension question would be answered once and for all.
 
Really???, that sounds so glorious LOL. When I retire (75yrs old) I plan on not getting sick and never needing to use the hospital. That way I can help all the poor taxpayers (of which I am definitely one) out by paying and never getting (our pension and probably social security) any benefit from my payments........sorry, I was very much hoping the pension question would be answered once and for all.

Your altruism exceeds your expectations, Brother........and probably your longevity, too....

But I seriously hope the pension is there for you to access when you want it,....and not because you need it.....

I was informed earlier today that the Special Senate Committee That was supposed to bring S.2147.....to the Senate floor for a vote has decided to extend the deadline another week.

Apparently they have a lot on their plate......
 
Taxpayers will always be “on the hook” for Congress’s blunders. Look at TARP funds and the Wall Street bailout of 2009......

The Butch Lewis Act......S.2147.......is a low interest, long amortized loan that matures in 30 years. Any fund taking advantage of this will immediately start paying it back to the Government,....albeit at a very low rate.
Accessing this loan gives the funds the breathing space they need to allow demographics to....catch back up with them....

Besides,....as I stated,.....the Federally-mandated Pension Benefit Guarantee Insurance fund will require.....by law....three times as much funding as the Butch Lewis Act.
Congress deliberately underfunded the PBGI.....on the advice of their Big Business donors,.....who did not like paying insurance Define 'low interest'

The country is $21Billion in debt there is no appetite for more debt to pay for pensions by folks that don't have a pension.

All of the TARP $$$ that Banks collected was paid back, Obama boasted about that. He was right to do so...

Everyone paid back except GM, we got our thanks last week for that..

Taxpayers do not care if your pension goes broke because it was mismanaged. There are teamster fat cats collecting multiple pensions. That better get fixed first before this joke is eve discussed.

As a taxpayer I'd suggest teamster companies 'pay their faire share' into their pensions. Why should taxpayers subsidize YRC's cheap rates with my taxes????

As I said my pension is at risk but I was smart enough not to trust those thieves....

I took care of myself because it was very easy to see this coming......
 

I think the country is more than $21 billion in debt.....in fact, in the last two years, our debt has exploded to $21 trillion.....in spite of promises made to eliminate that debt.

Yes, you're right that President Obama bragged about the TARP money being repaid. It was loaned......to fix a problem. Just like the Butch Lewis Act will provide loans to fix a problem.
And, yes..........that TARP money was pretty much paid back.
GM claims it paid back $39 billion,...but the GAO says they still owe $10 billion.....Sounds like the accountants and lawyers will duel this out with sharp pencils for years......But that's typical of Big Business,...whose sole reason for existence is to satisfy shareholders at the expense of the customers , products, safety,...and, of course, the employees......

And who mismanaged the pensions?....Wasn't me......or my fellow workers......Could it be the same people who mismanaged the economy and caused many funds to be pushed into insolvency,....along with many banks, investment firms, Bear-Stearns...and half the value of the portfolios of working people with 401(k)'s?
How about the legislators who went along with the high-paying business-class donors,...and changed the laws to remove economic safeguards so that those same business-class donors could gamble recklessly with other people's money? Would you consider them to be....at least,...partially complicit in this mess? By not considering the long-term effect on working people and the economy,...because there was SHORT-TERM profits to be made?

I'm a taxpayer, too.......Companies like Hostess Bakeries who had pension obligations to PAY their fair share to those funds...OR dump them into Pension Benefit Guarantee Insurance....backed by Government(taxpayer) funds.........USED changes in the tax laws to escape their obligations and DUMP them squarely on us.....you and me.....taxpayers........

.....(..I will never allow a Hostess Twinkie in my house.....Ever...)....

Where is your outrage with the slimy corporate tactics and their enablers in Congress?

I congratulate you for having the foresight to "see all this coming".....May I borrow your crystal ball for a while?

The pensions were set up,.....and backed up 50 years ago by Government(PBGI) insurance.....BECAUSE....many working people's circumstances didn't allow them to be "lucky" enough to not get taken advantage of by their employers and sundry "investment" firms.....

Surely you're not proposing punishing the.....retirees.......who believed what they were told about defined-benefit pensions being stable?
As is your 401(k) manager now, telling you and other employees how many millions of dollars they will have 40 years from now?
 
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