Monday, April 04, 2005

 

Unions Using Pension Plan Money to Oppose Personal Pension Plans

From John Fund's Opinion Journal piece:
The problems with all this are many, starting with a rich irony: Unions are using the clout they've acquired from investing in the stock market to oppose a plan to let individuals invest their own tax money in the same market. According to a Tax Foundation paper, of nearly $2 trillion in public employee pension plan assets, 55% are invested in corporate equities. Labor leaders don't mind stock-market investing when it enhances their own political leverage, but for individual workers to build their own wealth is too "risky."

This is just another example of the unions using their members' money to support democratic/liberal causes and/or oppose conservative/republican ideas. It is time that the unions are seen for what they are: a politial party - one which forces membership no matter your political affiliation.



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