Posted on 04/30/2005 3:10:14 PM PDT by CHARLITE
If the federal government reduced it's annual spending by 30%..............
There would be no need for income tax
so
everyone would have plenty to invest for retirement.
Problem solved.
"So Kerry & Tootsie are living it up (way up!) on a 100 year old fortune, not one penny of which either one of them are credited with having created."
We really should impose a more equitable death tax - 100% tax rate on inherited wealth if you are not blood related to the deceased;)
No they dont if elected before 1984. They are under Civil Service and probably something more generous we dont know about. They all get to invest in the Thrift Savings Plan that has been operating since 1985, matching funds up to 5% and then up to 14% of their income and earning an average of 7-8 percent per year untill retirement. Then they can take a lump sum or annuity. 3 million federal employees and 3 million military are eligible to invest in the five available funds thriough payrol deduction. They also dont have to pay taxes on the money they put in the account until they withdraw it for income.
They get to draw Social security as long as they have 40 quarters of earnings in the system or when they retire they can work untill they get the credit.
Great GooglyMoogly! Peewee Herman's long-lost Daddy!
Besides being (awkwardly) tall and having (wig-like) hair, I have a hard time buying him as a 'trophy husband', too--he has no aesthetic merits whatsoever in my view. Too horselike, and too Frankenstein/Herman Munster-ish. Unless he has some hidden assets, talents we don't know about, I'm guessing she's a 'brand name' kind of woman and liked his label of senator.
Wait a minute. Kerry didn't go to his job and got paid anyway, wasn't fired, and married wealth twice. This is considered good investing? Where I live, it's called other things.
At that, Heinz doesn't just spell ketchup and relish. 5 will get you 10 that Heinz is actually into everything, but, more recently, gold and oil stocks and futures, with a healthy dose of ChiCom things.
Oh yes. Don't forget the real estate tips through the cousin with the lock on things in VietNam. Selling out your country really does pay dividends, it seems.
Hey!, don't insult my man Louis,...well, I guess he is kind of goofy looking.
They should be forced to forfeit drawing on their SS.
That should be based on income when they retire. Means testing would make it a fair hit on your wallet. SS is meant to be a socialist sharing of the wealth to help the poor live when they cant work anymore. Not an extra paycheck for rich people to give away or waste. Maybe put thier share into the health care fund for those less fortunate.
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