by Pam Martens and Russ Martens
Wall Street on Parade
Yesterday, billionaire Larry Fink, Chairman and CEO of the giant investment manager BlackRock, released his annual letter to shareholders. In it, Fink revives the same ole trope that billionaires Kenneth Langone and Stanley Druckenmiller were taking on a road show in 2013. Back then the billionaire propaganda was called: “General Theft: How Entitlement Spending is Stealing Opportunity from America’s Youth.”
Every time there is talk of raising taxes on the super-rich, some of whom pay less in taxes than plumbers and teachers through a tricked-up tax dodge known as “carried interest,” the billionaires launch a concerted effort to scapegoat struggling seniors living on an average monthly Social Security retirement benefit of $1772.51.
The inability of younger Americans to save enough for retirement couldn’t possibly have anything to do with Wall Street gobbling up two-thirds of lifetime retirement savings in fees, as Frontline documented back in 2013.
