Stealing Pensions For The Rich

Kansas Governor Proposes Using Pension Money to Cover Budget Gaps Created By His Tax Cuts:

In 2012, Kansas Gov. Sam Brownback signed a landmark bill that delivered big tax cuts to high income earners and businesses. Less than two years after that tax cut, the state's income tax revenues plummeted by a quarter-billion dollars -- and now Brownback is pushing to use money for public employees’ pensions to instead cover the state's ensuing budget shortfalls. 

Brownback's proposal: Slash the state’s required pension contribution by $40 million to balance the state budget. But Kansas already has one of the worst-funded pension systems in the nation. The state was also recently sanctioned by the Securities and Exchange Commission for not accurately disclosing the shortfalls...