posted on December 2, 2002 07:16:52 PM newThis should be a campaign issue in 2004
SOCIAL SECURITY:
(This is worth the read. It's short and to the point.)
Perhaps we are asking the wrong questions during election years.
Our Senators and Congressmen do not pay into Social Security.
Many years ago they voted in their own benefit plan. In more
recent years, no congress person has felt the need to change it.
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 - that's
Seven Million, Eight Hundred Thousand), with their wives drawing
$275,000.00 during the last years of their lives. This is calculated
on an average life span for each.
Their cost for this excellent plan is $00.00. 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 Fund--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 $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
month to equal Senator Bill Bradley's benefits!
Social Security could be very good if only one small change were
made. And 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 and then
watch how fast they would fix it.
If enough people receive this, maybe a seed of awareness will
be planted and maybe good changes will evolve. WE, each one
of us... can make a difference.
posted on December 3, 2002 06:41:51 AM new
Excellent! It is a big problem. And Congresspeople only have to work a few years to qualify for "retirement" I also think something should be done about their pay structure also...
.................................................
We call them our heroes...but we pay them like chumps
[ edited by mlecher on Dec 3, 2002 06:42 AM ]
posted on December 3, 2002 10:38:09 AM new
We know the problem,Do we know the fix? How do you cut the pay of Senators and Congressmen? Other then just flat run out of money,That wont happen because the worthless paper can be cranked out 24-7.
The money train is out of control,and theres not a damn thing we can do about it.
Money controls us,Keeping our "Stuff" enslaves us,It all started so long ago, when we were asleep.
How easy it is to fight the good fight, when it is in your face,Only to learn the battle had always been hidden.
We really didnt have a chance,did we?
We have always been kept ever so busy,with our daily problems,Price increases,local& Gov. politics,schooling,family,religous arguements,hate,crime.We turned on each other.
posted on December 4, 2002 11:34:22 AM new
The fix for Social Security is easy- but it won't happen with Bush in office, nor I suspect, even if the Democrats were in. Both parties depend on the wealthy for their continuing control of the Congress.
Change the tax.
Currently we all pay about 15% on the first $87,000 we earn. After that, there is no SS tax. Change it to cover ALL income, no exceptions, no deductions.
Last I read, this all encompassing tax would need to be about 4% to generate the same revenue as the current tax. Raise it to 5% and you have 25% MORE revenue, enough to dig SS out of the hole over a period or years.
The working people , up to those earning $250,000 ($125,000 if you are an employee)
would pay the same or less, employers would reap a huge windfall and SS would become solvent.
The cost would fall on the rich and so long as they own the politicians, it won't happen.
But it would solve the problem.
posted on December 4, 2002 01:23:15 PM newCurrently we all pay about 15% on the first $87,000 we earn.
Boy, I would love it if that was true. I make a bit more than $52,000 per year...and pay 30% in taxes... Censorship, like charity, should begin at home; but unlike charity, it should end there --Clare Booth Luce
posted on December 4, 2002 02:22:54 PM new
Bunni - Are you referring to your Federal Tax [@ 30%] or your FICA?
Are you part of the teachers union who have a different retirement setup?
Bob was referring to the FICA wages that are deducted from most workers paychecks. He included both the employee and employers contribution to FICA [SS & Medicare] to come up with his 15% total.
This year both employees and employers paid: 6.2% of their income, up to a maximum $84,900 in 2002, [will be $87,000 in 2003] and in addition to that they paid hospital insurance under Medicare, at 1.45% of all wages, with no upper limit. Some feel there should be no upper limit on the SS part, just like there is no limit on the Medicare part.
But you probably knew that.
And yes, Bear, I'd like to see our representives pay and have the same benefits we have. OR better yet....[won't happen] we should only have the GREAT retirement benefits they enjoy.
posted on December 4, 2002 04:02:51 PM new
Bear - We constantly email our representatives about issues we feel strongly about. For example the latest pay raise they voted for themselves, we emailed our reps [before the vote] and told them why we didn't feel they should allow this cost-of-living increase to go through, at this time. Then after the issue has been voted on, we review how our reps voted. If we disagree they get another email.
We also use the website vote.com to express our opinions on different issues. The results of these emails are forwarded to the people who are in control of the different issues. If it's something you agree/disagree with for example the email is addressed to the President, John Ashcroft, or to the involved representatives.
I don't have an answer as to how we could begin the process of changing the retirement benefits members of Congress are receiving. It would be an up-hill battle for sure.
