‘Retirement Heist,’ by Wall Street Journal reporter Ellen Schultz, is certainly one of the most important books published in the past few decades. For the past three decades, we’ve been inundated with hysterical announcements from the corporations that they faced a “crisis” due to “runaway pension and health care costs.”
These undue burdens were bringing the entire economic system down, they said. American companies, we were told by a corporate owned media, just couldn’t compete with “unfair competition,” all because of outrageous “entitlements.” Ellen Schultz has shown, with meticulous research, how financial institutions, corporations, were able to use accounting tricks, rulings by corporate controlled government oversight bodies, ridiculous tax incentives, deception and outright lies to literally destroy the structure of retirement security that took decades of struggle by America’s working people to put in place.