“Meanwhile in Chicago, Democratic Mayor Rahm Emanuel is expected to propose similar cuts to municipal employees’ retirement benefits. Yet Emanuel, fresh off pleading poverty to shutter schools, is championing a $300 million spending spree on corporate subsidies, including a massive giveaway to a private university for the construction of a basketball arena. That’s just one part of his city’s notorious and burgeoning “shadow budget,” the mayor’s secret slush fund of taxpayer money designated for corporate subsidies.”
The Pension Heist: How politicians raid retirement funds to enrich their corporate masters
pando.comLet’s say that as a condition of your employment, your company agreed to pay you a set retirement benefit from its retirement fund, with the implied understanding that the company would…