Billions of dollars in public pension fund money flow to private equity–owned firms that union-bust, violate labor laws, and put workers’ safety at risk.
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Robbing workers’ pension funds has long been central to Wall Street's business model. A recent Supreme Court ruling opened the door for financial managers to take their looting of those pension funds even further.
Focusing on 10 states where the pension cost controversy has been intense, we compare those costs to the amount of revenue those states lose each year as the result of economic development subsidies offered to corporations as well as the tax preferences and accounting loopholes (including offshore tax havens) used by companies.
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