Reading time – 29 seconds . . .
The Koch brothers and other big bucks boys sponsored a pension reform seminar and invited lots of judges to attend. It was all about how we will “reform” our pension system for public workers, given the enormous “unfunded liability” held by most states. What that means is that we agreed to provide pensions for these people, often in lieu of pay raises, but we didn’t put away money into a pension pot from which we could draw later. Well, it’s “later” right now and many states are in trouble.
There is lots of weaselly pension fixing language being tossed about, like the suggestion of Amy Moynahan, University of Minnesota law professor. that, “. . . changes to future pension accruals should be legally permissible absent clear and unambiguous evidence that the legislature intended to create a contract.” That is to say, states can unilaterally ditch their obligations via courtroom sleight of hand to make it look like there was no contract with public workers.
No contract? Really? Those state legislatures were just spit balling what they might do later on for workers and now don’t they have to keep their word?
Now, why would the Koch brothers care about the fate of public pensions and the future of public workers so much that they would be a major sponsor of a conference where they invite judges before whom such cases may be brought? I don’t suppose that there might be tax consequences to such cases that might affect the Kochs. Naw, couldn’t be that. Surely it couldn’t be about large corporations in the private sector and their unfunded pension programs that these corporations still don’t want to fund. For sure it isn’t about any desire to build relationships with judges who will hear their inevitable lawsuits. Right?
No, not right.
More on this kind of craziness in Chapter 2. Watch this space.
Meanwhile, watch this video. Opposition to the Koch’s and the rest of the Big Bucks Boys who are despoiling our Constitution and stealing our democracy is growing. All it takes is you and me and a few million of our friends. Then they can’t stop us.
Ed. note: There is much in America that needs fixing and we are on a path to continually fail to make things better. It is my goal to make a difference – perhaps to be a catalyst for things to get better. That is the reason for these posts. To accomplish the goal requires reaching many thousands of people and a robust dialogue. Please help by passing this along and encouraging others to do the same. Thanks. JA
Copyright 2019 by Jack Altschuler
Reproduction and sharing are encouraged, providing proper attribution is given.