Pensions
Taxpayers Spend $86-Billion from the COVID-19″ Rescue” to Union Pension Funds
The $1.9-trillion Covid bill contains $86-billion for pension funds. NY Times: “The $86-billion is a taxpayer bailout for about 185 union pension plans that are so close to collapse that without the rescue, more than a million retired truck drivers, retail clerks, builders and others could be forced to forgo retirement income.”
France: Ongoing Yellow-Vest Protests Against Pension Cuts Is a Growing Conflict with No Possibility of Victory
As long as individuals are required by law to pay into a system not of their choosing and without an option to leave, corruption will flourish and pensions will suffer. When coercion enters, virtue and excellence leave. The people of France are headed into a long conflict in which both of their options are doomed.
The Pentagon and HUD Took $21 TRILLION from US Taxpayers!
American taxpayers have been robbed of at least $21-trillion by the DOD and HUD, based on a study of the agencies from 1998 to 2015 made by a professor of economics at Michigan State University. Meanwhile, the government has failed to fund $5-trillion in pension obligations despite many opportunities to do so, concluding it is intentional and that it will cause a “crisis” that will increase taxes, including property tax.
Illinois Proposes Plundering Homeowners to ‘Fix’ Pension Problem
Illinois has the highest property tax in the nation, with an average of 2.67%, and as high as 5% in some areas, yet the Federal Reserve Bank of Chicago proposed an additional 1% rate hike to cover the state’s underfunded pension problem. The revenue would help only five state pensions, while 650 county and city pension funds remain to be ‘fixed’. [God help property owners in Illinois.]