Progressive Labor Party (PLP) fights to destroy capitalism and the dictatorship of the capitalist class. We organize workers, soldiers and youth into a revolutionary movement for communism.
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Capitalists’ ‘Solve’ Crisis: Bail Banks, Cut Pensions
Wednesday, September 5, 2012 at 2:42PM The state of Illinois owes $83 billion to the pension fund of state university workers and teachers, state gov’t workers, and suburban and downstate public school teachers. The state wants to reduce its obligation to the thousands of workers who paid into the fund, and who either plan to retire or who now depend on their pension to survive. These workers don’t receive social security, and unlike high-ranking retired state officials, their pensions are barely enough to live on.
At a rally organized to protest the proposed cuts, a retired teacher spoke of how she depends on her $28,000/yr pension after teaching for 30 years. She and many other pensioners feel betrayed by the state for breaking the promise of a secure retirement in exchange for years of service. But what else can we expect from a rotting, decrepit system.
Why Now?
The state pension funds have been under-funded for years, either through mismanagement, corruption, or stealing. U.S. capitalism is generally declining in comparison to China, Russia, Germany, and others and when the bosses are in trouble they attack workers. This means that bailout money is only available for banks, not for workers’ pensions.
The so-called liberal democracy turns more to police terror, racism and fear to control workers. These fascist developments also occurred in Germany, Japan, Italy, and Spain prior to World War II.
Bosses Reduce Wages to Increase Exploitation and to Compete Globally
When the bosses’ system is being squeezed they reduce our wages and pensions, as well as our standard of living in order to compete on the world market. Wisconsin and Indiana recently abolished the collective bargaining rights of state workers, which will mean lower wages and benefits. The Chicago Cook County bosses have terrorized workers by closing Oak Forest Hospital, and engineered widespread layoffs. Detroit teachers suffered mass layoffs, and across the U.S. bosses are privatizing education in order to smash teachers’ unions.
After a bitter four-month strike, Caterpillar, a global company based in Joliet, Illinois, forced its workforce to accept a contract that more than doubles workers’ healthcare payments, freezes pensions and provides no raise for workers with the most seniority. All this while the CEO makes $17 million a year and the company just reported record profits.
Why Workers Should Consider Communist Revolution
The bosses’ effort to save their dying system means one attack after another against the interests of the working class. They will continue to cut pensions, schools, hospitals, public transport, and terrorize workers through a police state, and endless imperialist oil wars. Communist revolution would mean mobilizing millions of workers to smash the state and establish a new system, communism, eliminating money, racism and sexism. Society would be based around the needs and wants of the producers of all value, the working masses, under the leadership of the Progressive Labor Party. Join us.
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