Now here is the interesting bit of information from Australia that I feel is important for Americans.
Australia's Ansett Airlines collaped in 2001 After Ansett collaped, the Australia government implemented the "Ansett Air Passenger Ticket Levy". This was a $10 per ticket tax that was added to the price of all airline tickets sold in Australia. This levy was implemented between 01-Oct-2001 through 3-Jun-2003. The money raised was suppose to pay the salaries owed to Ansett employees after their airline failed.
I mention this levy because I think it is a forbearer of things to come in the US. United Airlines recently declared bankruptcy and the US government took over their underfunded pension plan. Delta Airlines is threatening the same thing now. I will not be at all surprised if we find that Congress will implement an airline employee levy on all airline tickets sold in the US.
Why stop there? Taking it to the next logical step, Congress might slap a levy on all new cars sold in the US to pay the underfunded pensions of GM, Ford, and Chrysler.
Isn't that nice? Company management can feel free to risk or blow all their company assets because they know that us taxpayers will end up footing the bill for their pension and salary obligations. This puts the company creditors ahead of the employees since they will be paid "separately".
The new corporate mantra: Screw the pension contributions! Fund my golden parachute!
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