Yellow | The Butch Lewis Act

But no employer will pay 80k to an employee who is paying zero in taxes and taking home 80. because the employer knows the employee will do the same work for 40. The employer will set the wage according to the take home amount -- the post tax amount.

CEOs may be greedy, but they ain't stupid.
Bill Dollars may be an exception to that.

Completely disagree with you. Company will have to pay whatever amount gets the employee the same "buying power". You are oversimplifying in order to attempt to validate your point. If the employee tax rate is zero, then obviously there must be other taxes the government imposes in order to obtain revenue. And the bottom line is that the final user - the consumer of products and services - will pay those taxes in the form of higher prices or else a "consumption" tax. Therefore the employee still needs the tax-free pay in order to pay the missing tax which would be imposed in other forms. It's the "buying power" that determines what the employee requires, not necessarily just the take home amount.
 
And there is one political party in particular that is seeing to it that this bill gets no where. Hint: it is the Party of big business, corporations, and billionaires. The same party that gave James Welch a huge tax cut and created tax incentives that made paying him off in inflated stock an extremely lucrative proposition.


You do realize, that these pensions are only now allowed to be cut, because of the bipartisan mpra, that was signed by a democrat president?

The only reason the democrats even bother mentioning the butch lewis act, is that it will get them a few more votes from guys with short memories. If they were interested in your pension, why, they wouldve fought for it years ago!
 
So Butch Lewis doesn’t pass and a few years from now CSPF goes belly up! So is the government going to fund (bailout) the PGBC ? After all we paid the premiums!


Or Welch on that too?
I have no inside info, but if I had to bet, it would be that Butch Lewis dies in Committee, and the Pension Guarantee gets some type of bailout. Partly by us being forced into some kind of oversight, perhaps merger with other pensions, our taking cuts (probably to the Guarantee Rate), and our surrendering our Fund's money to the Guarantee. All that combined, could triple our longevity from 7 years to at least 21, probably longer. No one would be happy, but everyone would get something. I just can't see Congress allowing us to keep drawing 100% while they bail us out.
 
I have no inside info, but if I had to bet, it would be that Butch Lewis dies in Committee, and the Pension Guarantee gets some type of bailout. Partly by us being forced into some kind of oversight, perhaps merger with other pensions, our taking cuts (probably to the Guarantee Rate), and our surrendering our Fund's money to the Guarantee. All that combined, could triple our longevity from 7 years to at least 21, probably longer. No one would be happy, but everyone would get something. I just can't see Congress allowing us to keep drawing 100% while they bail us out.

That sounds reasonable. What was the % cut Central States asked for a while back that was turned down? Probably too late for that now.
 
That sounds reasonable. What was the % cut Central States asked for a while back that was turned down? Probably too late for that now.
Wasn't the same for Everyone. It was all over the board. Some, virtually none. Some, as much as 45%. Treasury stated it wasn't equal, nor large enough.
 
You do realize, that these pensions are only now allowed to be cut, because of the bipartisan mpra, that was signed by a democrat president?

The only reason the democrats even bother mentioning the butch lewis act, is that it will get them a few more votes from guys with short memories. If they were interested in your pension, why, they wouldve fought for it years ago!
But that's how democracy works - politicians try to do things that will get votes.

But more importantly. Bro, look at the color divide on that graphic! What do you not understand about that? There is one political party that will not let that Bill get out of committee. What is their motive? What is in your best economic interest? Do you come in out of the rain when it rains? Or stand there and get soaked. YOU'RE KILLING ME SMALLS! This your pension, and you're worried about political theory?
 
Or maybe merge the CSPF with the UAW Pension Fund, which the government has already bailed out.
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Because I'm sitting in a truck, board out of mind waiting on my meet and turn driver, I'm gonna go all intellectual on you. So hold on this could get bumpy.

Working class wages are set in post-tax dollars not pre-tax dollars.

For example, let's say you make 80k a year and pay a 50% tax rate. Your take home is 40k. Now let's say your taxes are reduced to zero, and, wall la, your take home is now 80k.

But -- and here's the kicker -- the company knows that you are willing to work for 40k a year. Now, what do you think any CEO worth a dam will do in that situation? He's gonna reduce your pay to 40k because that's (barring a Union contract) the market price of your labor.

Likewise and forthwith, when income taxes are raised on wage earners the same thing will happen only in reverse. Your pay will go up so that your take home pay remains at market value.

Fortunately, we belong to a union so our wages are protected from "free" market forces to a certain extent.

Dam, this truck won't idle. It keeps shutting off on me. Where's my union representation when I need it? I'm fileing on this :::shit:::. I deserve post and pre tax A.C.

I was contemplating your post and formulated a variety of responses, but decided to leave you and your alternate reality in peace. After reading some of your other posts, it was a sound decision. I will continue to be entertained by your banter.
 
I have no inside info, but if I had to bet, it would be that Butch Lewis dies in Committee, and the Pension Guarantee gets some type of bailout. Partly by us being forced into some kind of oversight, perhaps merger with other pensions, our taking cuts (probably to the Guarantee Rate), and our surrendering our Fund's money to the Guarantee. All that combined, could triple our longevity from 7 years to at least 21, probably longer. No one would be happy, but everyone would get something. I just can't see Congress allowing us to keep drawing 100% while they bail us out.
I like your thinking. and I agree congress will send Butch Lewis down in flames but they'll add the PGBC . To the hearty applause of the "taxpayers". Along with SS, Medicare, etc. Remember the" public" is sick and tired of these programs.
 
Correct Why ISN'T Hoffa & Union fighting more for it ??
hoffa granted kevin a change
Correct Why ISN'T Hoffa & Union fighting more for it ??
hoffa granted kevin mccaffrey a change in the election dates for the local 707 election because mccaffrey claimed he et sl had to be in dc to work on pension stuff. i will be glad to fax anyone hoffa's letter to mccaffrey
 
I was contemplating your post and formulated a variety of responses, but decided to leave you and your alternate reality in peace. After reading some of your other posts, it was a sound decision. I will continue to be entertained by your banter.

Elwood must be "boared" out of his mind.
 
If they can bailout banks they can bailout pensions or start a new national retirement system similar to Australia's much better. The money goes into a account that employers contribute like a 401k then you get an annuity when you reach retirement age plus a government benefit depending on how much you have in your account.
 
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