My VA Disability is $1046 a month, and that isn't retirement pay. I am allowed no other income, at all. Even one dollar income would cost me my medical care and that tiny pension. I don't know any Veteran who got a million dollars, unless they won a lawsuit. It's damned near impossible to win a lawsuit against the VA. Tell me how long you could survive on $1046 a month? My 1979 pickup truck is falling apart. It needs more in repairs than it cost, eight years ago. I have three leaking roofs, and a bad tank on my well. The pump kicks on three times to get one quart of water. Do you know what that will do to the pump? My pension went up about 1% per year, and only some years. You're ignoring the guarantee they give people entering the service of medical care and disability benefits, in exchange for lower monthly pay while on active duty, or in the reserves. Whine all you want, I'll consider the source. $2,627 would be a 21% reduction for me.
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Anyone wanting to run for any political office in the US should have to
have a DD214, and a honorable discharge.
Let's start with the source. I'm 59 and I see the government is in debt for 8 times the yearly total tax income. I see it takes 90% of the yearly total tax income to pay for just the entitlements programs. I think we (government officials) have promised to much to to many for to long. We have governments, city, county, state and federal that have promised money to people that they don't have. They just figure it is future taxpayers problems. Private corporations have also over promised future benefits, to be paid by future workers, then when that fails, if your workers are represented by a big union, you will be bailed out by the taxpayers. Obamacare will add enough to the entitlements that soon entitlements will take over 100% of all federal taxes collected. My wife and I have earned less than the median income over our 32 years marriage and have lived very frugally and saved a great amount. I'm pretty confident the government will find a way to attack my savings that 65% of the population could also have, if they lived like my family. They had the option to live like my family but chose to spend and live paycheck to paycheck. I'm sure I will pay a penalty because I saved for the future. The government has just got into to many vote buying programs. It needs to stop. Stop giving away other peoples money. I didn't suggest you take a 21% income cut, I said the median household income dropped $2,627 or 4.89%. If you took a 4.89% cut that would be $617.00. At your income, you qualify for several other government programs. As far as my vet friend collecting $1 million, all I know is what he said. I have no clue about how much retirement pay is for 20 years or 30 years of service. If I assume he started at 18 and retired at 38 with 20 years of service and he is now 72. He has collected for 34 years, if he average $20,000 for 34 years that $680,000. So Your right it doesn't sound right. But I don't know military pensions. If he averaged $30,000, that is over $1 million. I'll have to gently slide into a conversation about his retirement and see if I can get some more info. If I lived close to you, I'd fix your pump problem, years ago I ruined a lawn watering pump, because it cycled on and off and over heated the capacitor. I'm highly aware of how my pump runs now, this one is now 17 years old and still working fine. Mikek
At 62, a military pension converts to Social Security. Just like my VA disability pension will do in a few months. I seriously doubt he was getting $30,000 a year when he retired, unless he was a 'Seven star General'. If he retired, his healthcare would be 'Tricare for Life' which they have to pay for co-pays and other charges.
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Anyone wanting to run for any political office in the US should have to
have a DD214, and a honorable discharge.
If you include promises in the debt, it's ten time worse.
You didn't do that.
There is nothing wrong with a defined benefit retirement (I have one) but there is a problem with an unfunded defined benefit retirement (non-)fund. OTOH, if the government had funded all of the programs with public financial instruments, it would crowd out all other investment. Instant fascism (which would suit the Obama and his leftist minions just fine).
"The retirement benefit is based on years worked and rank. If the colonel has worked 20 years, then the government would calculate the retirement benefit at 50 percent of their base pay. If the colonel was to retire after 22 years, then there is a multiplier that is used. For every year in service over 20, the colonel receives an additional 2.5 percent. The maximum is 75 percent of their base pay at 30 years. So, at 30 years, the base salary of $10,736.70. Multiply that by 75 percent, and it equals $8,052 per month."
Sounds like a megabuck is pretty easy to come by. It doesn't looks like it doesn't even take a 7-star colonel to pull a megabuck over a decade or two.
I'm not surprised to see these numbers, he doesn't seem to lack money to eat out most days, and has several motor bikes. He even has a 12 year old daughter he spends a lot of time with. And a wife he doesn't, you didn't hear that. Mikek
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