The Sanctity of Contracts in a Capitalist Society: but not for teachers

The recently signed 75 year contract for a parking meter “concession agreement” that drains revenues in Chicago is SACRED.

Chicago Parking Meter$6.50 per hour to park on the street – and rising. That’s what the contractor has raised it to within the last few years.

“The judges stressed that when the City Council approved the deal in 2008, the ordinance declared that it was ‘in the best interests of the residents of the City.’ Illinois law and court precedents ‘require us to defer to these legislative findings,’ the judges wrote.”

A recently signed 75 year contract provided for a parking meter “concession agreement” that has already drained hundreds of millions of dollars from the revenues is sacred and legal. That’s what the judges said. Jeez! That’s what they said.

The Chicago Reader gives the lurid details and legalese rhetoric.

img_2685aHOWEVER, cutting pensions for retired teachers and forcing active teachers to pay 9.4% into a doomed pension system that has specific constitutional protections against those cuts is legal according to state legislators and city aldermen.

Glen Brown explains the full constitutional history.

Private profit from graft and corruption is legal.

Meeting the constitutionally protected contracts for earned compensation (pensions) for teachers and other public employees is a breakable contract? They don’t make contracts in a capitalist society the way they used to?

This is enough to make even the staunchest believer in honest government puke.

These corrupt politicians have to go, or America will be America in name only.

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About Ken Previti

http://reclaimreform.com/
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One Response to The Sanctity of Contracts in a Capitalist Society: but not for teachers

  1. glen brown says:

    Thanks again, Ken.

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