(00:00) The Business Roundtable CEOs have average retirement assets of $14.5 million – 1,200 times the average American. James Duke of Walmart has over $117 million in retirement assets and will make $686,000 a MONTH when he retires. These same CEO’s are underfunding their employee pensions. The top ten largest pension fund deficits among these CEOs alone total over $100 billion and, ultimately, U.S. taxpayers (you) are responsible. General Electric pays no U.S. income taxes and underfunds its employee pension $23 billion. Meanwhile, its CEO has retirement assets of $60 million.
What’s going on? What right do these people have to work to cut our Social Security retirement? Why don’t they fund their employee pensions as they promised? And why is Congress listening? Hear Scott Klinger of the Center for Effective Government explain.
“Lean on Me” – Nicholas David
“You’ve Got a Friend” – James Taylor