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Starry Messenger

(32,381 posts)

11. It's pure wage theft.

Reply to Baitball Blogger (Original post)

Fri Dec 19, 2014, 07:33 AM

Dec 2014

Pensions are deferred compensation. Essentially, you have stolen years of work from someone when you loot their pension.

The company already got the value of a person's work, and they squeeze out more when they don't honor pensions. The money is always there, it just went to someone else.

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Highlight:

Is Pension Looting a strategic maneuver to hide poor accounting practices? [View all] Baitball Blogger Dec 2014 OP

Not sure, but flat out thievery hifiguy Dec 2014 #1

Longstanding practice...look at the pension mess in Illinois HereSince1628 Dec 2014 #2

when the money is long gone and the theft is about to be discovered Man from Pickens Dec 2014 #3

annnnd...it's gone. Rex Dec 2014 #9

Occam's Razor says the simplest explanation is the most likely one... JHB Dec 2014 #4

Absolutely. Nuclear Unicorn Dec 2014 #5

If it walk like mstinamotorcity2 Dec 2014 #6

No, it's blatant asset-looting. Odin2005 Dec 2014 #7

One of the virtues of communism is: there are no private assets to loot. Nuclear Unicorn Dec 2014 #10

No it is just regular looting of the working class. Same as always imo. Rex Dec 2014 #8

It's pure wage theft. Starry Messenger Dec 2014 #11

There it is TheKentuckian Dec 2014 #12

I Think It's An Excuse RobinA Dec 2014 #13