Posted on 05/23/2005 5:52:47 AM PDT by genefromjersey
This must be an issue in "200 8." Please! Keep it going.
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SOCIAL SECURITY: (This is worth reading. It is short and to the point.)
Perhaps we are asking the wrong questions during election years.
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..
This is calculated on an average life span for each of those two Dignitaries. For example, 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.
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;!
" OUR TAX DOLLARS AT WORK "!
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.
If enough people receive this, maybe a seed of awareness will b e planted and maybe good changes will evolve.
How many people can YOU send this to?
Keep this going clear up thru the 2008 election!!
I've been saying that for years, if nothing else was accomplished by it we would at least save on the money paid to them for retirement.
Thanks...
SUMMARY of P.L. 98-21, (H.R. 1900) Social Security Amendments of 1983-Signed on April 20, 1983
It should also be noted that PL-98-21 also increased the retirement age to 67, raised FICA taxes, and linked the cap to COLA. This was supposed to fix SS for 75 years, but we will be back in the same situation as 1983 in 2018, i.e., cashing in the SSTF IOUs to make up the shortfall between revenue and pay outs.
This means that part of their retirement system is a savings account that they own.
That is correct. Federal employees have a TSP. They can contribute up to 10% of their salary up to $11,000 and the Federal government makes a matching contribution up to 5%. Federal employees can receive a SS pension, a FER pension, and their TSP. They can also retire at age 55 with 20 years of service.
Which is exactly what PRESIDENT Bush is prescribing for the sheeple.
My point exactly.
Thanks for the tip !( I've forwarded to my sources.)
read
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