Multi-Millionaire CEOs Hatch Plans to Cut Social Security While Compiling Massive Nest Eggs of Their

[unhappycamper]

http://smirkingchimp.com/thread/bill-berkowitz/52835/multi-millionaire-ceos-hatch-plans-to-cut-social-security-while-compiling-massive-nest-eggs-of-their

Multi-Millionaire CEOs Hatch Plans to Cut Social Security While Compiling Massive Nest Eggs of Their Own
by Bill Berkowitz | November 22, 2013 - 11:03am

The opening line of a new report by the Institute for Policy Studies and the Center for Effective Government might be considered controversial if it wasnt so gob-smackingly true: In the current budget debate, the loudest calls for Social Security cuts are coming from two lobby groups led by CEOs who will never have to worry about their own retirement security.

The report, titled Platinum-Plated Pensions: The Retirement Fortunes of CEOs Who Want to Cut Your Social Security,
points out that two organizations, Fix the Debt, a PR and lobby machine launched in 2012 and led by more than 135 CEOs of major corporations, and the Business Roundtable, a 40-year-old association made up of about 200 CEOs of Americas largest corporations, are involved in a protracted campaign aimed at cutting, and ultimately, gutting Social Security.

Platinum-Plated Pensions, written by Sarah Anderson, the Director of the Global Economy Project at the Institute for Policy Studies, and Scott Klinger, Director of Revenue and Spending Policies at the Center for Effective Government, found that the CEOs belonging to Fix the Debt and Business Roundtable are sitting on massive nest eggs of their own.

The report focuses on the retirement funds of Business Roundtable members, but there is considerable overlap in BR and Fix the Debt. More than half of the Roundtables Executive Committee members and a quarter of their total members are affiliated with Fix the Debt.

[Laelth]

1. k&r for exposure. n/t

-Laelth