Why Does a Millionaire Mayor and a Billionaire Hedge Fund CEO Team Up to Attack Public Pensions?
Because that’s where the money is, and lots of it. Mayors and governors want to reduce pension fund contributions so that they can continue to lavish tax breaks and subsidies on their corporate patrons and still balance their budgets. In Chicago, the yearly cost of those corporate tax subsidies is already higher than the yearly costs of Chicago’s pension fund outlays, according to an analysis by Goods Jobs First.
The Hedge Fund That Ate Chicago
A political fight in Chicago could determine the future of pensions and public services.