Yellow | Pension really fixed, not so sure

Correct. There is no individual account. Just like the Teamster pension, Social Security is an annuity. My premiums and my employers matching premiums bought lifetime income. No different than a commercial insurance annuity. I can go to ssa.gov and find exactly how much I and my employer paid in. The Social Security Trust Fund is a separate entity from the federal budget. There is 2.6 trillion dollars in the SS fund today. SS dollars are invested in government bonds, no different than the savings bonds I gave my grandchildren. Don't even think about telling me about IOUs. Is that piece of paper in your wallet $5.00 or is it an IOU? Are the CSPF investments cash or IOUs?
The difference is this; in 2034, when the SS trust fund is empty, the benefits will be cut to match the incoming cash flow. Multi employer funds now will not. The Teamster funds got a bailout of taxpayer dollars, welfare for truck drivers. My $3500.00 a month pension is $20.00 an hour. Why should the taxpayer working at Home Depot for $12.00 an hour subsidize my $20.00 an hour pension?
Maybe Home Depot should pay them all a higher wage then maybe everybody will be happy including you with that $3500.00 a month pension that you feel others shouldn't receive.
 
Nice try at another spin there Blade. In our current contract (Southern Region Supplement ABF), the rate paid on our behalf weekly for Health and Welfare was $401.13 effective August 1st of 2018 with a .40 cent per hour bump on 08/01/2019. Followed by a .42 cent per hour bump on 08/01/2020. And a .50 cent per hour bump for 2021 and 2022. This is part of our pay package and is reflected at the end of the year as such (at least it is at ABF). The reason we pay no taxes on it is because of an exemption from the Affordable Care Act granted to Union health care plans. Without this exemption, we would be taxed at a certain point for it as our plan is considered a "Cadillac"plan.
Therefore, as it is part of our pay package, and there are hourly increases to it each year, I stand behind my statement that is considered part of our hourly rate when it is negotiated in our pay package. And as far as addressing your other points, the only points I see you making is that you will take advantage of any pay that comes your way and yet tell others it is Socialism. So, does this mean you are in favor of Socialism? Or just a Hypocrite?
Steward of the Rock, I think he is both. :6788:
 
My $3500.00 a month pension is $20.00 an hour. Why should the taxpayer working at Home Depot for $12.00 an hour subsidize my $20.00 an hour pension?
If this whole posting half truths on TB doesn't work out maybe you should think about a comedy career. I believe that you are well aware that we have a progressive tax scale. That Home Depot person that you speak of isn't paying taxes, more than likely he \ she is getting more money back then what was paid in. I would really be surprised if you didn't already know that, given your high degree of financial knowledge. I don't want to pay for unwed mothers or abortions and many other things. Such is life and Butch Lewis is law of the land so it doesn't matter. I think when I pay my taxes I'm putting a note in there telling them they don't have my permissionon to fund those things. I will post how that goes next April.
 
The pension became socialist when the government decided to use general revenue tax dollars to fund it.
That happened Day One in 1935, per SCOTUS in Helvering vs Davis -1937

Helvering v. Davis



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Helvering v. Davis, 301 U.S. 619, was a decision by the U.S. Supreme Court that held that Social Security was constitutionally permissible as an exercise of the federal power to spend for the general welfare and so did not contravene the Tenth Amendment of the U.S. Constitution. Wikipedia
Date decided: 1937
Dissent: McReynolds, joined by Butler
Citations: 301 U.S. 619 (more)57 S. Ct. 904; 81 L. Ed. 1307; 1937 U.S. LEXIS 1200
Date argued: 1937
Majority: Cardozo, joined by Hughes, Brandeis, Stone, Sutherland, Van Devanter, and Roberts
 
If this whole posting half truths on TB doesn't work out maybe you should think about a comedy career. I believe that you are well aware that we have a progressive tax scale. That Home Depot person that you speak of isn't paying taxes, more than likely he \ she is getting more money back then what was paid in. I would really be surprised if you didn't already know that, given your high degree of financial knowledge. I don't want to pay for unwed mothers or abortions and many other things. Such is life and Butch Lewis is law of the land so it doesn't matter. I think when I pay my taxes I'm putting a note in there telling them they don't have my permissionon to fund those things. I will post how that goes next April.
I didn't ask if Butch-Lewis was legal. I asked why a taxpayer making $12.00 an hour at Home Depot should subsidize a $20.00 an hour pension. You don't like $12.00, then pick a number. It's wrong for any taxpayer to subsidize a private pension.
 
I didn't ask if Butch-Lewis was legal. I asked why a taxpayer making $12.00 an hour at Home Depot should subsidize a $20.00 an hour pension. You don't like $12.00, then pick a number. It's wrong for any taxpayer to subsidize a private pension.
Why should a person getting up every day busting there butt making 25.00 an hour paying for someone that is milking the system and getting gov assistant for setting on there butt?
 
I didn't ask if Butch-Lewis was legal. I asked why a taxpayer making $12.00 an hour at Home Depot should subsidize a $20.00 an hour pension. You don't like $12.00, then pick a number. It's wrong for any taxpayer to subsidize a private pension.
Taxpayers funding abortion or helping druggies get there fix from some meth clinic. Long list of waste, where you want to start?
 
I didn't ask if Butch-Lewis was legal. I asked why a taxpayer making $12.00 an hour at Home Depot should subsidize a $20.00 an hour pension. You don't like $12.00, then pick a number. It's wrong for any taxpayer to subsidize a private pension.
Do you have any idea what our government spends money on around the world? Your going to worry about helping out American retired guys? Fix the thousands of ridicules ways Washington Republicans and Democrats flush our taxpayer money down the toilet and then talk to me about the pension bailout!
By the way do you have any idea how much taxes a 12 dollar an hour employee pays in? Pretty close to none especially if they have kids.
 
Do you have any idea what our government spends money on around the world? Your going to worry about helping out American retired guys? Fix the thousands of ridicules ways Washington Republicans and Democrats flush our taxpayer money down the toilet and then talk to me about the pension bailout!
By the way do you have any idea how much taxes a 12 dollar an hour employee pays in? Pretty close to none especially if they have kids.
That's the best justification for the pension bailouts, the amount of money we waste overseas....
 
Do you have any idea what our government spends money on around the world? Your going to worry about helping out American retired guys? Fix the thousands of ridicules ways Washington Republicans and Democrats flush our taxpayer money down the toilet and then talk to me about the pension bailout!
By the way do you have any idea how much taxes a 12 dollar an hour employee pays in? Pretty close to none especially if they have kids.
Help the American taxpayer first, before sending our tax dollars to other countries.
 
Social Security is an annuity. Fully paid for by FICA premiums. The same kind of annuity available from Nationwide or State Farm.
The pension became socialist when the government decided to use general revenue tax dollars to fund it. The pension funds should have been allowed to fail.
What do you think healthcare is now? You think it's insurance. How many posts on this board talk about the Teamster free healthcare. Insurance is not healthcare. Insurance is the definition of socialism. Everybody pays in so that those who need it can get their bills paid. "From each according to his ability, to each according to his need". Straight out of Karl Marx's communist manifesto.
That has to be the dumbest bullshit comment I have ever seen in the 24 years I have been on here! You have got to be the dumbest Teamster to ever have a card in their pocket!
 
I know insurance isn't health care but its here to stay....since you don't want to invest in these companies to enjoy in the profits, then perhaps you should just pay out of pocket and not pay into the socialist system....you do have a choice....
Mr Razorblade you never replied to this comment...I would think a strong proud capitalist like yourself wouldn't want to be involved in an evil socialist program like health insurance..... I look forward to your spin.....err....I mean thought provoking answer....
 
That's the best justification for the pension bailouts, the amount of money we waste overseas....
Not just overseas! We waste billions or more overseas but we probably waste more domestically? I don't even want to know how much or which is worse! I'll make anyone who doesn't like the pension bailout a deal...when the government stops wasting money on everything that is worse than the pension bailout I will personally write the pension and tell them to stop all pension payments to me! I'm not worried!
 
I would not take for granted any story by a site that is owned by Dow Jones. Wall St. is the one that caused this mess in 2007-2008 with our Pensions. Go to the central States Forum on here if you want to get ALL of the stories by those who have been fighting to save of pensions for over 7 years now.
Since the crash of 2007-2008 every major index has at least tripled except some union funds.
Looks like the investments these thieves are making are not good for members
This bail out by taxpayers is yet again proof of the massive incompetence at these union pensions. Truck Drivers with 401k's have over $1 million for themselves with more time to retirement. With less $$$ invested than in pensions funds....
These pensions were already paid for, theft, poor investments are the root cause of any poor performance.
If these pension funds even simply invested in the S&P 500 they would have tripled by now
But then Democrats would not have looked like they were helping by using billions of $$$ of other peoples money...
 
Not just overseas! We waste billions or more overseas but we probably waste more domestically? I don't even want to know how much or which is worse! I'll make anyone who doesn't like the pension bailout a deal...when the government stops wasting money on everything that is worse than the pension bailout I will personally write the pension and tell them to stop all pension payments to me! I'm not worried!
I feel exactly the same way, and I have stated pretty much the same thing....and brother I don't believe you will be wasting any time writing any letters!!!!
 
Details?
There is no doubt that Social Security is a fully funded program using no general revenue tax dollars.
The pension became socialist when government general revenue tax dollars were used to subsidize it. It's a welfare program. There can be no argument of that.
Health insurance is indeed a program of collectivism. Straight out of the Karl Marx playbook. Not only that, insurance provides no healthcare but increases costs by 30%. Absolute fact. It's also uniquely American. The rest of the world recognizes healthcare as a human right not an economic privilege of the monied few.
My detractors want to deflect the discussion by pointing out other wasteful spending. They want to tell me to just refuse the benefit and to ignore the injustice of it. Try to stay on topic. Try to defend the special treatment given to the unions by the socialist Democrats. Try to defend forcing the employees at Pitt-Ohio to subsidize your pension with their tax dollars. Try to defend the waiver given to union health care plans by the Affordable Care Act. Try to defend your not paying income tax on employer paid premiums while individual policy holders must pay with after tax dollars.
You want more ammunition to attack me. The farm bill costs over a billion dollars a year. It's welfare for farmers. Minimum price supports for dairy products are welfare for farmers.
The Davis-Bacon Act that requires government to pay prevailing union wages for every project is nonsense. More special treatment for union labor at the expense of the taxpayer. It's an admission that union labor is overpriced and not competitive.
YRC will be gone within five years because they cannot compete with carriers that provide quality service at a lower cost. That is how the free market is supposed to work. That is competitive capitalism.
Union members have killed the golden goose. The more is better and more is never enough mentality of the rank and file is why an IBT Master Freight Agreement with 500,000 LTL members is down to ABF and YRC. 20 years ago, there was no FedEx Freight. Now FedEx is the largest LTL carrier in America. Why? Because they are able to provide quality service at a reasonable price by retaining retaining productive employees who believe in their company and appreciate the excellent pay and benefits provided to them.
If you are truly worth the compensation package you are receiving, you can print out a resume and find another employer who will gladly match your current income.
 
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