Another View: CEOs favor cuts to Grandma’s Social Security

 

SARAH ANDERSON directs the global economy project at the Institute for Policy Studies. Her column is distributed by OtherWords.org. Contact: sarah@ips-dc.org.

David Cote, the CEO of Honeywell, has more than $134 million in his personal retirement fund. If I were sitting on a nest egg that big, I might feel a bit sheepish about telling ordinary grandmas and grandpas to take a cut in their Social Security payments.

But Cote — and leaders of many other large corporations — don’t see it that way. In fact, as Congress prepares for yet another budget showdown at the end of the year, the loudest calls for Social Security cuts are coming from CEOs who will never have to worry about their own retirement security.

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