Skip to comments.The Patriotic Retirement Plan
Posted on 05/08/2009 11:12:05 PM PDT by chase19
The Patriotic Retirement Plan
By Russell E. Saltzman Friday, May 8, 2009, 12:53 PM
This is one persons suggestion for fixing the economy. It appeared in a Florida newspaper that had asked readers to send along their best economic ideas:
There are about 40 million people over 50 in the work force. . . .
Pay them $1 million apiece severance for early retirement with the following stipulations:
They leave their jobs. Forty million job openings unemployment fixed. They buy new American cars. Forty million cars ordered auto industry fixed. They either buy a house or pay off their mortgage housing crisis fixed. David Otterson, Largo http://www.tampabay.com/news/business/article973953.ece
Count me in!
I truly support this proposal, I don't care what party you are, where do I join.
Another over 50 potential recipient? lol
I read a number of plans but this one was the bestest. Fire the idiots in power and let us regular commonsense Joe’s/Josie’s run it for a while. It couldn’t be worse than the fools that are in there right now.
Ummm...That’s 40 TRILLION dollars, folks. TANSTAAFL.
Do the math. Forty million retirees x $1M apiece = 40 trillion. That’s even more expensive than Obama’s approach. Not do-able. Sorry. Sounded good to me, too.
I’ll sign up - just pay me in gold
I’m down with that. Let our kids and grandkids and greatgrandkids pay! We deserve it!
$1,000,000 x 40,000,000 = $40,000,000,000,000 (is that gazillions?)
To heck with those chump change $200 stimulus checks. Obama could write a check for the spare change in Fort Knox to cover that.
I was already spending my million. Why did you have to go and spoil it. What’s 40 trillion anyway - it’s where we’ll be in a few years anyway with the Obamination in charge. At least this way some of us regulars will get to enjoy it. Sorry for those under 50 but every w/man for himself. :)
Totally, I mean who cares about the grandkids for heaven’s sake. Let them watch out for themselves. I also think we should get a new car and not just those on welfare - make mine a mercedes.
First, there is no indication whether the $1 million would be a lump sum or an annuity. Either way, there's no guarantee that the money would not disappear -- insurance companies have been known to go belly up and individuals have been known to -- ahem -- lose money in the stock market. If recipients limit themselves to strictly FDIC-insured accounts, they most likely will lose money to inflation in the long run.
Second, the recipients would still be liable to pay for their own medical insurance (approx $8000 to $12,000 per person for HMO coverage in the NY metro area) until they qualify for Medicare (assuming Medicare is still in existence).
Third, since the recipients stopped working at age 50, their Social Security payments will be markedly decreased. Again, this assumes there is still a Social Security in the future. It also assumes that recipients haven't signed away their right to Soc Sec in accepting the $1 million.
Fourth, the recipients would still have to pay property taxes (where I live, that would be $7500 to $10,000 per year for a modest house), homeowners insurance, heating/cooling, and maintenance and upkeep for their home.
Fifth, it is not specified but it would definitely have to be worked out: Is that $1 million taxable? If it's taxable, then recipients are going to get a lot less than $1 million.
Actually, the more sound approach would have been to open up a program called Social Security-Plus...where you let a guy 55 retire and collect 150 percent of his anticipated age 65 social security money for ten years and then fall into regular social security. You limit the numbers....say 100,000 per month, until you reach 500,000 ‘new’ retirees. Plus you can further entice folks...offering a $2k tax credit per year for this group, until age 65.
I will take that deal, as a social conservative I am expendable anyway according to many money based “conservatives”.
I just heard on the radio they’re talking about having to up the retirement age w/ no mention of enticements...so there go’s that idea. I’ll be crippled with arthritis and going to work with a walker before I get to retire by the time this dude is finished with his spending spree.
Isn’t the Social Security deficit around 7 trillion? Funny how we used to talk in billions and overnight it seems we’re talking trillions. Meanwhile back at the ranch I’m talking pennies.
I think I know how you feel. Take the money and run....
How about this plan?
START IN THE CAPITAL: President Obama and his team should leak to the news media the names of everyone under consideration for appointment to any position in the administration. This would encourage those individuals, and many in Congress, to pay all their unpaid taxes and fines - it would generate millions - at least.
Probably cheaper than what they’ve been doing too.
Aren’t you the spoilsport here! Do you see the rest of us raining on your parade? Keep that up and there’ll be no soup for you!
Besides, we’re going to DEMAND a lump-sum, tax-free payment of $1 million and NO REDUCTION of our SS benefits. Wait’ll you see the 40 million of us marching on DC demanding what’s right and fair for us!
If the money I paid into SSI for the last 40 years plus 5% interest was returned to me I would have that million dollars.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.