OCTOBER 24, 2014 5:21PM
By STEVE H. HANKE
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Sen. Tom Coburn (R-OK) released his annual Wastebook this past week. It contains a laundry list of doozies. The U.S. government’s gold-plating operations included $190,000 to study compost digested by worms, $297 million for the purchase of an unused mega blimp, and $1 million on a Virginia bus stop where only 15 people can huddle under a half-baked roof. These questionable (read: absurd) expenditures only represent the tip of the iceberg.
Just consider the following: the Speaker of the House currently receives an annual salary of $223,500, and will receive a payment of roughly that amount, depending on the years of service, for life. An annual payment of this magnitude amounts to about five times the average annual wage in the United States. But that’s not all. For those who have had different positions in Congress, their retirements can be augmented. For example, Nancy Pelosi will not receive $223,500 for life, but roughly double that. Why? Because she is a member of Congress, currently the House of Representatives’ Minority Leader, and a retired Speaker of the House. For purposes of computing retirement pay, Congress adds and accumulates. They do not net.
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Here’s an idea — and I’m just spitballing here — no pensions for elected Gooferment politicians.
And, hey, Gooferment bureaucrats, there’s this thing called an IRA!
“We, The Sheeple” will never wake up.
“Move along, people. Nothing to see here. Go home, you looky-loos.” Officer Barbrady’s Catch Phrase South Park
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