An interesting observation about Social Security. .
Our Senators and Congressmen do not pay into Social Security, and, of course, therefore they do not collect from it. Social Security benefits were not suitable for persons of their rare elevation in society. They felt they should have a special plan for themselves. Many years ago they voted in their benefit plan. In more recent years, no congress person 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 their same pay until they die, except it may be increased from time to time by the cost of living adjustments.
For example, former Senator Bradley, and his wife, may be expected to draw $7,900,000.00, with Mrs. Bradley drawing $275,000.00 during the last year of her life. This is calculated on an average life span for each.
Their cost for this excellent plan is $ "0," nada, zilch. This little perk they voted in for themselves is free to them. You and I pick up the tab for this plan.
This fine retirement plan funds come directly from the General Funds. Your tax dollars at work! Social Security, which you and I pay into every payday for our own retirement, with an equal amount matched by our employer, we can expect to get an average of $1,000.00 per month from our Social Security plan. Or, we would have to collect our benefits for 681 years and month to equal the Bradley's benefits. Imagine for a moment that you could structure a retirement plan so desirable that people would have extra amounts deducted from their pay to enhance their own personal retirement income. A retirement plan that worked so well, that Railroad Employees, Postal Workers, and others who were not in the plan would clamor to be included.
This is how good Social Security could be, if only one small change were made. That change would be to jerk the Golden Fleece Retirement Plan out from under the Senators and Congressmen. Put them into the Social Security plan with the rest of us. Then watch how fast they would fix it!!!
If enough people receive this, maybe a seed will be planted, and maybe good changes will evolve.