A tune from the Peterson songbook ...
Loveman expanded on the Roundtable's anti-elderly agenda in a Wall Street Journal editorial. Not coincidentally, that agenda corresponds exactly with that of right-wing billionaire ideologue Pete Peterson, who has funded many such anti-"entitlement" initiatives. They include:
- Raise the Social Security age even more than currently scheduled -- presumably from 67 to 70;
- Raise the Medicare eligibility age;
- Partially (or totally) privatize Medicare;
- Implement the "chained CPI," which cuts Social Security benefits by three percent and raises taxes on the middle class (but not on Loveman or other members of the Business Roundtable)
Each of these measures would be financially devastating to most Americans.
... and the irresistible song stylings of Faith Hill and Tim McGraw.
We interrupt this presentation for a special announcement: Remember, Gary Loveman runs Caesars.
If you're planning a trip to Las Vegas, may I suggest the Palazzo? Caesars may have Celine Dion, but it's got Tim McGraw and Faith Hill -- two entertainers for the price of one.
And you won't be subsidizing your own future financial misery.
Loveman's just one member of the gang, of course -- Mr. Pink to Jamie Dimon's Mr. White. (I know, I know: Why do I gotta be Mr. Pink?) There's also:
Dimon: Under his leadership JPMorgan Chase has repeatedly violated the law, paying billions in fines; lost billions in the London Whale catastrophe from a unit under his direct supervisions been sanctioned for laundering drug money; has been fined for bribery, and ... well, Dimon deserves an article of his own.
Jim McInerney: He runs Boeing, a major defense contractor. Ever wonder why these "pragmatists" don't recommend cuts to defense spending, since it's one-fifth of our government budget?
David Cote: His company's Honeywll, another major defense contractor (and leading advocate of Social Security and Medicare cuts).
Jeff Immelt: He leads the serial corporate criminal GE.
The Roundtable has more such "leaders," but you get the idea.
A rap sheet as long as your arm.
The Business Roundtable was founded specifically to win political favors from the largest and most ruthless companies in America, often at the expense of smaller business, and its accomplishments read like a rap sheet: it defeated an anti-trust bill in 1975, helped kill a labor rights bill and a Consumer Protection Agency in 1977, lobbied successfully for lower corporate taxes in 1985, blocked meaningful shareholder reform in 1986 (which is why these CEOs make so much more than they're worth), and lobbied for NAFTA.
The lost jobs and lost wages the Roundtable helped create have devastated the middle class -- and increased the deficit.