Rahmbo's platform: cut pension benefits for current employees, not just new hires [View All]

[Hannah Bell]

In contrast to his main rivals in the mayor’s race, Rahm Emanuel has told labor leaders that he favors reducing pension benefits for the city’s existing work force and not just for new hires.

Although Mr. Emanuel has not yet publicly detailed his plan to confront the city’s perennial budget deficits and the severely underfinanced employee pension funds, he told union officials in a private meeting on Dec. 15 that he thought it could be necessary to cut the pensions of all employees, said people who attended the meeting.

Mr. Emanuel made the comments while he was being interviewed by leaders of the Chicago Federation of Labor. That umbrella group for 300 unions has not yet endorsed any of the candidates who will be running in the Feb. 22 election to succeed Mayor Richard M. Daley, who is retiring.

http://www.nytimes.com/2011/01/09/us/09cncpulse.html?_r=1&scp=2&sq=rahm%20emanuel&st=cse


Rahmbo told the truth all right - his hedge fund overlords don't want to pay more than the 15% capital gains tax they have on their income, his Wall Street CEO overlords don't want to pay the tax levels that their counterparts paid from the 50's through the 70's when this country was an economic powerhouse and many economic boats were lifted across economic classes - so middle and working class people must have their pensions reduced.

Here is a question I have. Is he going to try and reduce current retiree benefits too?

Just imagine what will happen when the politicians start slashing retiree pensions by 25%, capping Social Security COLA's and forcing retired people out into the streets in desperation because they can't make their mortgages or bills.

http://perdidostreetschool.blogspot.com/2011/01/theyre-coming-for-your-pension.html


They're already trying to seize pensions in Europe.

http://washingtonexaminer.com/blogs/beltway-confidential/2011/01/europe-starts-confiscating-private-pension-funds