If these folks are entering the workforce today, and this has even entered their minds, the boss isn't getting what he paid for.
Just listen to C-Span's Morning Journal from time to time to hear what the current Dem talking points are.
The Democrats like to accuse their opponents of nefarious activities which they, in fact, do themselves. Vote fraud, for example.
Our Senators and Congresswomen do not pay into Social Security and, of course, they do not collect from it.
You see, Social Security benefits were not suitable for persons of their rare elevation in society. They felt they should have a special plan for themselves. So, many years ago they voted in their own benefit plan.
In more recent years, no congressperson has felt the need to change it. After all, it is a great plan.
For all practical purposes their plan works like this:
When they retire, they continue to draw the same pay until they die. Except it may increase from time to time for cost of living adjustments.
For example, former Senator Byrd and Congressman White and their wives may expect to draw $7,800,000.00 (that's Seven Million, Eight-Hundred Thousand Dollars), with their wives drawing $275,000.00 during the last years of their lives.
This is calculated on an average life span for each of those two Dignitaries. Younger Dignitaries who retire at an early age,will receive much more during the rest of their lives. Their cost for this excellent plan is $0.00. NADA....ZILCH.... This little perk they voted for themselves is free to them.
You and I pick up the tab for this plan. The funds for this fine retirement plan come directly from the General Funds;
From our own Social Security Plan, which you and I pay (or have paid) into every payday until we retire (which amount is matched by our employer)-we can expect to get an average of $1,000 per month after retirement. Or, in other words, we would have to collect our average of $1,000 monthly benefits for 68 years and one (1) month to equal Senator Bill Bradley's benefits! Social Security could be very good if only one small change were made. That change would be to:
Jerk the Golden Fleece Retirement Plan from under the Senators and Congressmen. Put them into the Social Security plan with the rest of us ......then sit back..... and watch how fast they would fix it.
Ann E. Camp, Ph.D.
Lecturer and Associate Research Scientist
Stand Dynamics and Forest Health
Yale School of Forestry and Environmental Studies
360 Prospect Street
New Haven, CT 06511
phone: 203 436-3980
FAX: 203 432-3809
e-mail: ann.camp@yale.edu
Those whiners sure have a lot of time on their hands.
Those whiners sure have a lot of time on their hands.
Only a fool would believe that. I don't even factor SS into my retirement equation. If I get any it'll just be gravy. But unlike my parent's generation, I'll never get back what I put in. As for my daughter, I doubt if she'll ever collect a dime. Like any Ponzi scheme, at some point the system has to collapse.