Who am I?

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pmconusa
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Joined: 04/20/2000 - 12:01am
Who am I?

I work in an occupation that rewards seniority by a minimum wage increase of least 2.5% per year. The salaries of my peers’ ranges from $35,000 per year to $70,000. In addition to my salary I receive pension benefits to which I contribute less than 8%. I also receive healthcare insurance benefits for which I contribute only 8% and which currently cost about $13,000 per year and have been increasing on average of 2.5% per year. I can retire at age 62 and my pension benefit will be 2% of my highest 3 years average salary times my years of service. Also, 45% of my health insurance benefit will be paid by my employer at retirement. In addition to my retirement benefit I am now also eligible at age 68 to receive Social Security for which I paid 6.2% of my salary. Based on my income and the lifestyle it affords me I can expect to live to be 80 years old.
Based on the facts given above I can expect to earn in 40 years a net before federal income tax of $2,790,889 until I retire at age 62. In retirement I will receive my employer pension, Social Security benefits and a subsidy for my health insurance in the amount of $2,015,130 if I live to age 80.
Who am I? I am a teacher in the Brunswick school system and just one of the myriad government employees or employees of businesses whose entire output is sold to the federal and state governments for tax dollars. Unfortunately, the government, both State and federal do not collect enough in taxes to defer this expense and have resorted to borrowing rather than increasing state and federal taxes for fear of losing their jobs that allows them to determine who gets how much of what through the tax code. It is a characteristic of an economy whose exchange accumulates rather than be consumed. It is an unsustainable system and will collapse when the minimum being distributed is of insufficient value to purchase the basic necessities of life; shelter, clothing and food in that order. At its current pace, this will occur before the end of this century and about the time the population reaches about 500 million.

Melvin Udall
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Joined: 05/01/2002 - 12:01am
And here I thought you were a

And here I thought you were a nuclear metaphysicist.

Melvin Udall
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Last seen: 4 hours 20 min ago
Joined: 05/01/2002 - 12:01am
One thing about keeping a

One thing about keeping a stable full of dead horses; they don't cost anything to feed, and you don't have to clean up the manure.

Bruce Libby
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Joined: 01/17/2006 - 7:08pm
You are one person residing

You are one person residing in the Town of Brunswick.Your point has some merit if it is recognized by your fellow tax payers.
It is quite evident that any interest has failed to manifest itself in some form of action , to correct the situation.

We get the point. You do not like it. Population of Town minus one i she number of others you must enlist to your cause.

By the way I would research your SS information because I believe you are in error on benefits fro those collecting a government pension.

Jasper
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Last seen: 3 months 16 hours ago
Joined: 02/06/2014 - 5:24am
By the way I would research

By the way I would research your SS information because I believe you are in error on benefits fro those collecting a government pension.

Why don't you research his information since you are the one who believes differently? Are you so functionally illiterate that you can't use google? Never mind, that's a rhetorical question.

Bruce Libby
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Joined: 01/17/2006 - 7:08pm
Thank you Smegma

Thank you Smegma

I do not believe I know he is ,I am married to a retired teacher !
Likre yourself no matter what anybody researched and posted , it would be wrong.

It would be better for him to do it, giving the all knowing a chance to correct a possible error.

pmconusa
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Last seen: 4 months 8 hours ago
Joined: 04/20/2000 - 12:01am
Bruce: Payment into Social

Bruce: Payment into Social Security was at one time an option for most government employees and I believe federal employees still are exempt from paying into Social Security, they having their own retirement plan, including those in elected office. Not so State employees who I believe now must pay into the system. When this change came about I am unsure but I believe it was before the year 2000 which would make those paying in eligible if they paid in at least 40 quarters. The present maximum Social Security benefit is $2639 per month but in order to qualify you must have paid in the maximum amount for 35 years. I don't know what the minimum is but I presently collect $1621 per month from which is deducted $104.90 for Medicare insurance. According to my Social Security account I paid in about $45,000 and have since collected over $350,000. You are aware also that people like Warren Buffet are also collecting, as will Bill Gates when he reaches age 68 in 7 years.

My point is a system that works like this including paying people more each year for doing the same job and paying them even more per year for doing nothing is unsustainable. If you took the time to read my books you would know why and how the politicians maintain this system as a means of self preservation. You would also learn how it can be overcome to preserve human life on the planet longer.

Bruce Libby
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Your incorrect.

Your incorrect.
40 years state employment never paid SS other than the FICA tax which is medicare .

pmconusa
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Last seen: 4 months 8 hours ago
Joined: 04/20/2000 - 12:01am
The Progressives have

The Progressives have essentially assured the passage of school budgets by scheduling voting during off periods and assuring that those that benefit from the system turn out to vote, i.e. parents whose children are being educated by tax funds, government employees, including the teachers and all the support staff in the system. When these budgets are turned down, which they rarely are, they are reintroduced with modest cuts until the voters who oppose them finally cave and give up in disgust.

A check on your information confirms that government employees enrolled in certain retirement programs are exempt from Social Security payments and benefits but not Medicare. However the reduction in retirement income is only $160,000 and has only a minor influence on my premise, which is there is a select group of individuals, government employees and those whose businesses is serving the government, who's income in retirement come not from money they saved but, from taxes.

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