Payday for Unions buried HR3200 aka Obamacare

[Freedom4all]

No surprise here at all...

Buried on page 65 of the 1,017 pages of HR 3200, the House's health care reform bill, and in a Senate bill as well, stands a $10 billion entitlement to keep pensions for unions like United Auto Workers as shiny and gold-plated as the day Detroit executives signed off on them.

Steelworkers, municipal employees, teachers and other union retirees will benefit from what the bills call "Reinsurance Programs for Retirees." The $10 billion cash infusion is intended to refinance Voluntary Employee Beneficiary Associations (VEBA) insurance to continue coverage for unions' early retirees in restructurings.

It's nothing but another bailout for union-bankrupted industries that can't sustain their contracts. In most of the private sector, companies cut back. They pay for what they buy. They scrimp.

Unions are different. When things get bad, they want taxpayers to pay. And they demonize corporate profits. When profits are a dirty word, one man's wealth is another man's loss, and creating value is no longer recognized as a means of earning money.

It's no surprise that bailouts are the result.

But there's a problem with all this largesse — the poor and middle class who don't get these fat pensions end up paying for them anyway. Back in February, President Obama praised unions for their "sacrifices" in the auto bailouts. We've yet to see taxpayers praised or thanked for their "sacrifices" in bailing out unions.

Unions gave $52 million to elect Democrats in the last election. The link between bailouts and campaign cash couldn't be clearer.

 

[tech2101]

No surprise here at all...

This line (from your link) says it all:

pensions for unions like United Auto Workers the day Detroit executives signed off on them

They make sure their (Executives') contracts are adhered to in any case...but if it is a contract for workers, oh well...

Now health reform is going to pad union pensions???

You are really reaching.

 

[Freedom4all]

This line (from your link) says it all:


They make sure their (Executives') contracts are adhered to in any case...but if it is a contract for workers, oh well...

Now health reform is going to pad union pensions???

You are really reaching.

Pay attention some time...you might learn something.

Steelworkers, municipal employees, teachers and other union retirees will benefit from what the bills call "Reinsurance Programs for Retirees." The $10 billion cash infusion is intended to refinance Voluntary Employee Beneficiary Associations (VEBA) insurance to continue coverage for unions' early retirees in restructurings.

 

[tech2101]

Pay attention some time...you might learn something.

Steelworkers, municipal employees, teachers and other union retirees will benefit from what the bills call "Reinsurance Programs for Retirees." The $10 billion cash infusion is intended to refinance Voluntary Employee Beneficiary Associations (VEBA) insurance to continue coverage for unions' early retirees in restructurings.

That is the Investor Business Daily editorial version.

You are again going to make me post what the bill actually says, rather than your right wing editorial attempt to convince people who choose to not read and think for themselves:

SEC. 164. REINSURANCE PROGRAM FOR RETIREES.
13 (a) ESTABLISHMENT.—
14 (1) IN GENERAL.—Not later than 90 days after
15 the date of the enactment of this Act, the Secretary
16 of Health and Human Services shall establish a tem
17 porary reinsurance program (in this section referred
18 to as the ‘‘reinsurance program’’) to provide reim
19 bursement to assist participating employment-based
20 plans with the cost of providing health benefits to
21 retirees and to eligible spouses, surviving spouses
22 and dependents of such retirees.

The rest is here:

HR 3200

Read the bill yourself rather than blogs and editorials.

I know you are capable of learning something without their help.

 

[Freedom4all]

That is the Investor Business Daily editorial version.

You are again going to make me post what the bill actually says, rather than your right wing editorial attempt to convince people who choose to not read and think for themselves:

SEC. 164. REINSURANCE PROGRAM FOR RETIREES.
13 (a) ESTABLISHMENT.—
14 (1) IN GENERAL.—Not later than 90 days after
15 the date of the enactment of this Act, the Secretary
16 of Health and Human Services shall establish a tem
17 porary reinsurance program (in this section referred
18 to as the ‘‘reinsurance program’’) to provide reim
19 bursement to assist participating employment-based
20 plans with the cost of providing health benefits to
21 retirees and to eligible spouses, surviving spouses
22 and dependents of such retirees.

The rest is here:

HR 3200

Read the bill yourself rather than blogs and editorials.

I know you are capable of learning something without their help.

Come on techno, you dont really know how to read these bills do you? That section starts on page 65. Now read thru the complete section. All of it. Do you see what it says on page 70?

4 (d) RETIREE RESERVE TRUST FUND.—
5 (1) ESTABLISHMENT.—
6 (A) IN GENERAL.—There is established in
7 the Treasury of the United States a trust fund
8 to be known as the ‘‘Retiree Reserve Trust
9 Fund’’ (referred to in this section as the ‘‘Trust
10 Fund’’), that shall consist of such amounts as
11 may be appropriated or credited to the Trust
12 Fund as provided for in this subsection to en13
able the Secretary to carry out the reinsurance
14 program. Such amounts shall remain available
15 until expended.
16 (B) FUNDING.—There are hereby appro17
priated to the Trust Fund, out of any moneys
18 in the Treasury not otherwise appropriated, an
19 amount requested by the Secretary as necessary
20 to carry out this section, except that the total
21 of all such amounts requested shall not exceed
22 $10,000,000,000.

Heres more info on the subject for you:

$10B aimed at union retirees

Key provisions in House and Senate proposals set aside $10 billion to pay some claims for early retirees covered by employers and VEBAs, before other cost-saving measures kick in. Critics call it a union giveaway, but the union says the money would keep companies from further slashing coverage.

If you still are having difficulty, let me know so I can break it down for you.

 

[southwind]

This line (from your link) says it all:


They make sure their (Executives') contracts are adhered to in any case...but if it is a contract for workers, oh well...

Now health reform is going to pad union pensions???

You are really reaching.

Sorry Tech, but that dog doesn't hunt 'round here !

I do not want "MY TAX DOLLARS" financing Executives pay and bonuses, thus I do "NOT" want "MY TAX DOLLARS" substidizing unions pay, bonuses or "PENSIONS" !