Letting companies avoid pension funding. 9:37:05 AM
WASHINGTON, July 18 (Reuters) - U.S. companies with underfunded pension plans would get relief for three years under legislation backed by the House of Representatives Ways and Means Committee on Friday.
This is immportant as part of the tendency to let corporations have the profits from the bubble years, but put retirees and taxpayers at risk to cover the bills. Part of the larger tendency to aid capital at the expense of all others.
the rhetoric is of successful economic expansion being able to pay this off, but the reality is that it may not and this way capital has pulled out its gains leaving the downside to the rest of society. the savings and loan at 150B from taxpayers is the model.
The problem is that it is not going to work well, and shows private gain over social leadership.
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