Pension Heist: Revisited

Revisited and updated from 5/15/13 to reflect the full extent of today’s attempts at the grand theft of teacher pensions.

Pension theft in Illinois (and many other states, counties, cities and towns across America) simply has puppets with local legislative names and even some union names mouthing the words and following the steps.

puppets scissors
The Corporate Puppet Theater of Absurd Greed.

Since a unilateral political decision to cut public pensions is definitely illegal, unions and their leaders must be part of the cast of characters. This is essential for an effective retirement heist. All future ease of theft and destruction require it.

“We could convince the union that unless we reduce our retiree and employees costs we will be unable to continue to operate… thus creating significant hardship for their members. If the union didn’t agree, it would be tough to cut their benefits… So Pittman suggested a strategy he called ‘Creeping Take Aways.’ Using this approach, Varity ‘would progressively introduce minor reductions and usage controls rules into the medical benefits plan.’ These were ‘designed to be insufficient to warrant incurring the legal cost and trouble to have the benefits reinstated.’ A few years later, Varity could take an ax to the benefits, provoking the union to sue. In court, the company would say that because the union hadn’t objected to the earlier cuts, it tacitly agreed that the company had the right to cut their medical coverage unilaterally.” – Retirement Heist by Ellen E. Schultz (pages 149-150)

Most important of all – stop fearful union dummies and stooges from agreeing to surrender our pensions. (Many fear for their jobs and union leadership social positions; some nominal union leaders fear job loss even more than politicians fear loss of re-election.) Teacher unions serve teachers, and the union leaders must never lose track of that essential fact.

Retirees and active teachers, along with many other public employees, are being scammed, pillage, ripped-off and betrayed. The script of this cruel Kabuki Puppet Theater of Absurd Greed has been performed, word-for-word, many times before. The 2011 nonfiction book by Ellen E. Schultz, Retirement Heist, is essential reading for us all.

Even AFT President Randi Weingarten (who is either gullible or purchased) is mouthing the propaganda absurdities written by ALEC and the Civic Committee’s version of Pension Heist 101.

What’s happening in Detroit and Michigan? Kenneth Bernstein elucidates HERE.

What’s happening nationwide? Paul Krugman tells “The Great Pension Scare” HERE.

The Corporate Puppet Theater of Absurd Greed continues – unless we refuse and cut the strings.

puppets scissors

Isn’t it about time that WE start cutting legislators?


About Ken Previti
This entry was posted in betrayal, corruption, fairness, pensions, propaganda, Uncategorized and tagged , , , . Bookmark the permalink.

2 Responses to Pension Heist: Revisited

  1. Jonpgh says:

    It is my personal opinion that the big banks couldn’t privatize Social Security, so they are now focusing on public pension plans and forcing employees into 401k plans. Same MO, different monies.

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