Posted on 05/08/2009 11:12:05 PM PDT by chase19
The Patriotic Retirement Plan
By Russell E. Saltzman Friday, May 8, 2009, 12:53 PM
This is one person’s suggestion for fixing the economy. It appeared in a Florida newspaper that had asked readers to send along their best economic ideas:
Patriotic retirement:
There are about 40 million people over 50 in the work force. . . .
Pay them $1 million apiece severance for early retirement with the following stipulations:
They leave their jobs. Forty million job openings — unemployment fixed. They buy new American cars. Forty million cars ordered — auto industry fixed. They either buy a house or pay off their mortgage — housing crisis fixed. David Otterson, Largo http://www.tampabay.com/news/business/article973953.ece
Count me in!
I truly support this proposal, I don't care what party you are, where do I join.
Another over 50 potential recipient? lol
I read a number of plans but this one was the bestest. Fire the idiots in power and let us regular commonsense Joe’s/Josie’s run it for a while. It couldn’t be worse than the fools that are in there right now.
Ummm...That’s 40 TRILLION dollars, folks. TANSTAAFL.
Do the math. Forty million retirees x $1M apiece = 40 trillion. That’s even more expensive than Obama’s approach. Not do-able. Sorry. Sounded good to me, too.
I’ll sign up - just pay me in gold
I’m down with that. Let our kids and grandkids and greatgrandkids pay! We deserve it!
$1,000,000 x 40,000,000 = $40,000,000,000,000 (is that gazillions?)
To heck with those chump change $200 stimulus checks. Obama could write a check for the spare change in Fort Knox to cover that.
I was already spending my million. Why did you have to go and spoil it. What’s 40 trillion anyway - it’s where we’ll be in a few years anyway with the Obamination in charge. At least this way some of us regulars will get to enjoy it. Sorry for those under 50 but every w/man for himself. :)
Totally, I mean who cares about the grandkids for heaven’s sake. Let them watch out for themselves. I also think we should get a new car and not just those on welfare - make mine a mercedes.
First, there is no indication whether the $1 million would be a lump sum or an annuity. Either way, there's no guarantee that the money would not disappear -- insurance companies have been known to go belly up and individuals have been known to -- ahem -- lose money in the stock market. If recipients limit themselves to strictly FDIC-insured accounts, they most likely will lose money to inflation in the long run.
Second, the recipients would still be liable to pay for their own medical insurance (approx $8000 to $12,000 per person for HMO coverage in the NY metro area) until they qualify for Medicare (assuming Medicare is still in existence).
Third, since the recipients stopped working at age 50, their Social Security payments will be markedly decreased. Again, this assumes there is still a Social Security in the future. It also assumes that recipients haven't signed away their right to Soc Sec in accepting the $1 million.
Fourth, the recipients would still have to pay property taxes (where I live, that would be $7500 to $10,000 per year for a modest house), homeowners insurance, heating/cooling, and maintenance and upkeep for their home.
Fifth, it is not specified but it would definitely have to be worked out: Is that $1 million taxable? If it's taxable, then recipients are going to get a lot less than $1 million.
I’m in.
Actually, the more sound approach would have been to open up a program called Social Security-Plus...where you let a guy 55 retire and collect 150 percent of his anticipated age 65 social security money for ten years and then fall into regular social security. You limit the numbers....say 100,000 per month, until you reach 500,000 ‘new’ retirees. Plus you can further entice folks...offering a $2k tax credit per year for this group, until age 65.
I will take that deal, as a social conservative I am expendable anyway according to many money based “conservatives”.
I just heard on the radio they’re talking about having to up the retirement age w/ no mention of enticements...so there go’s that idea. I’ll be crippled with arthritis and going to work with a walker before I get to retire by the time this dude is finished with his spending spree.
Isn’t the Social Security deficit around 7 trillion? Funny how we used to talk in billions and overnight it seems we’re talking trillions. Meanwhile back at the ranch I’m talking pennies.
I think I know how you feel. Take the money and run....
How about this plan?
START IN THE CAPITAL: President Obama and his team should leak to the news media the names of everyone under consideration for appointment to any position in the administration. This would encourage those individuals, and many in Congress, to pay all their unpaid taxes and fines - it would generate millions - at least.
Probably cheaper than what they’ve been doing too.
Aren’t you the spoilsport here! Do you see the rest of us raining on your parade? Keep that up and there’ll be no soup for you!
Besides, we’re going to DEMAND a lump-sum, tax-free payment of $1 million and NO REDUCTION of our SS benefits. Wait’ll you see the 40 million of us marching on DC demanding what’s right and fair for us!
If the money I paid into SSI for the last 40 years plus 5% interest was returned to me I would have that million dollars.
Gimme, gimme, gimme! That’s the new mantra of the day!
Aw, but they’d make it taxable income. So we’re really only talking about 1 trillion by the time all the state, local, federal, estate, etc. taxes are taken out.
No coffee in the pot. Plus, it’s too early for me to do math. What’s $1 million times 40 million people?
Don’t give Obama any stupid suggestions like ‘forced retirement’ he’s liable to take our existing jobs and 401k (can you say Chrysler creditors?) and force people into retirement on some kind of crappy dole out with rationed healthcare, housing and food. He would be more than happy to have us living in ‘60’s era Soviet style!
Monopoly money! 40 Trillion or in Zimbabwean Dollars it is 40 followed by 1200 zeros, or there abouts. In miles, that is the distance the starship Enterprise can travel in about 3 seconds at warp 10. :)
My company will not offer early retirement again. They said they lost too many good people. The company is right. Just think about the work ethic of the over 55 group and the work ethic of a gen X 20 something individuals. Scary thought isn't it!
What kind of moron thinks that creating money out of thin air, creating debt, and passing it out arbitrarily is an economic system? What's wrong with the idea of shrink the government by 80%, pass some constitutional amendments to keep it that way, and tell everyone, you are responsible for yourself, and yourself only - good luck.
I think has a more fiscally responsible plan and more Eco friendly as well. You set up disposal centers where those 50 and above report to. They are then fed a good meal ,shown their favorite movie as they are put to sleep and then planted to fertilize the earth.
Universal population care
I think has a more fiscally responsible plan and more Eco friendly as well. You set up disposal centers where those 50 and above report to. They are then fed a good meal ,shown their favorite movie as they are put to sleep and then planted to fertilize the earth.
Universal population care
I'm with you 100% on that. Unfortunately the Founders drafted our Constitution to specifically limit the scope and breadth of our government and look where that's gotten us. Any amendments would have the same effect.
Here in California, we passed a statewide proposition 5 years ago to stop runaway government by strictly capping its size and budget. Today it is TWICE as big as then! I don't know how or if it is even possible to stop this runaway train until it runs off the rails and crashes headlong into the chasm.
I really am a parade-rainer-oner. I can’t help it, and there’s no cure. I sit around and calculate why $1 million is actually not that much money. I can barely restrain myself from standing in front of Toys-R-Us and telling little kids why their parents really can’t afford the toys they’re about to buy....
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