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-   -   Give aways to unions ;the gift that keeps on giving (https://www.askmehelpdesk.com/showthread.php?t=852153)

  • Dec 17, 2024, 07:15 AM
    tomder55
    Give aways to unions ;the gift that keeps on giving
    2 things caught my attention .
    The first I already commented on ;Trump's pick for Sec Labor Rep. Lori Chavez-DeRemer is as pro union as they come. She is in the pocket of Techer's union leader Randi Weingarten .

    2nd thing is Congress in a bipartisan way is planning on giving Social Security benefits to public union workers who did not contribute into the system to the tune of $200 billion .

    WSJ breaks it down

    Quote:

    The House last month passed the misnamed Social Security Fairness Act, 327-75. Senate Majority Leader Chuck Schumer vowed at a rally with union leaders last week to hold a vote on the bill this week. “What’s happening to you is unfair, un-American,” Mr. Schumer declared to cheers from teachers union chief Randi Weingarten.
    What’s unfair is rewarding high-paid government workers with larger Social Security benefits than they earned. That’s essentially what the bill would do.
    Social Security payments are based on worker contributions and average monthly earnings over the highest 35 years of compensation. They are also progressively indexed so higher-paid workers receive a benefit that replaces a smaller share of their earnings. Ergo, an investment banker receives a smaller wage replacement rate than a retail clerk.
    But what about teachers and firefighters? Many state and local government employees who receive pensions don’t pay into Social Security. Instead they earn pensions that are far more generous than the average Social Security benefit. Many can also retire as early as 50 and then work in private industry while receiving their government pension.
    Here’s the rub: Government workers who spend some of their career in private industry are entitled to Social Security benefits. However, the standard Social Security formula treats years employed in government as if workers have zero earnings. This reduces their average earnings in the equation and thus increases their wage replacement rate.
    As a result of this formula quirk, government workers who spend some years with private employers would get a relatively larger benefit than similar-earning workers who spend their entire careers in private industry. Congress in 1983 sought to fix this injustice with the Windfall Elimination Provision (WEP), which reduced benefits for such government workers.
    Government unions have long pushed to repeal this provision as well as a 1977 law that ensures government workers don’t receive outsize spousal benefits under the Social Security formula. Ms. Weingarten’s ship has finally come in as some Republicans cozy up to unions.

    A GOP Gift for Randi Weingarten - WSJ

    VP JD Vance is in on the scheme . WSJ calls it a payback to unions that backed Trump and Repubs in the election

    SS is going insolvent and still they are giving gimmees to select groups instead of reforming it for all .
  • Dec 22, 2024, 06:01 AM
    tomder55
    The Senate passed the bill in the wee hours of the morning while everyone had their eyes on the CR. Clueless Joe's signature will be transcribed on the bill to become law.

    Opinion: The Social Security Fairness Act is incredibly irresponsible - MarketWatch


    There were 20 Repub Senators who did their job and voted no.

    Repubs (VP designated Vance ,and Sec State designate Rubio along with Manchin(Independent ) and Adam Schiffhead (Dem) did not vote.

    This bill will hasten the downfall of Social Security as is extends benefits to public service workers who don't pay into the system and already have other public union retirement plans that we pay for .

    Meanwhile the eligibility age is going up in 2025 .
    Social Security retirement age to increase in 2025

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