Remember how the President endlessly bragged that health care reform would never -- never! -- impact your existing health plans? You know, the "if you like your plan, you can keep it" shtick? Well, I know this comes as a shock, but he lied.
What no one appears to be pointing out is that DemCare specifically targets private sector union members first. Because of the dizzying new regulations imposed by the new law, "industrial concerns [and/or] those with unionized employees, say the end of the deduction could force them to ... curtail or even cancel them [health benefits]," according to The Los Angeles Times. That's right: most union retirees will have their cushy plans slammed by DemCare through changes in the tax code.
Which unions will be hardest hit?
• The Communication Workers of America, whose website doesn't bother to mention the impending disaster. Telecom companies such as Verizon and AT&T will be forced to slash upwards of two billion in health benefits to retirees.
• The United Auto Workers, specifically at manufacturers like Deere and Caterpillar.
• The United Steelworkers, through diversified manufacturers like 3M.
• The Sheet Metal Workers International Union.
• The Oil, Chemical and Atomic Workers (OCAW) union.
And many, many more.
I won't get into the accounting details associated with these companies' benefits programs (mainly, because I don't understand them), but informant "CPA Ray" tells me that only three general scenarios are possible -- and all of them are devastating for union members and retirees.
Put simply, their promised benefits will be slashed and they'll be forced onto the government-run program. Oh -- and the government-run program will have 30 million more people on the books and spend $500 billion less on seniors, even as the need dramatically increases for the elderly.
Union members, it's time you started kicking the crap out of your union bigwigs -- politically speaking -- because:
They. Sold. You. Out.
Hat tip: Legal Insurrection.