(As seen on The Huffington Post)
First of all, I want to make it clear from the start: I hate those fat cats getting their compensations right from the stimulus money. They didn’t do anything to deserve that money, and that money wasn’t meant to reward them anyway. And the bottom line is that the current system of executives’ remuneration that allows such humongous paychecks, based in stock performance, is downright insane.
That said, it is in the same level of insanity to pretend to get 1.3 Million in pension payments from an investment of 62 K. But yet this is what AFL-CIO, SEIU et al. are demanding. Talking about protecting workers’ interests is one thing, and having a sustainable pension funding system is another. Most public workers won’t give away their lavish pension programs, not to mention their many other entitlements. They want obviously more taxes to finance their wages, and if that does not work, a federal bailout would be fine. More of the same.
In other words, the unions may be right when they want to denounce what they perceive as wrongful actions against the blue-collar workers, but it doesn’t mean they aren’t truly detached from their real bosses, the taxpayers.