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March 18, 2010
Copy of My Fax to Dennis Kucinich 3-18-2010 – Loy Banks
January 17, 2010
Privileged Classes – U. S. House and Senate Members
Members of Congress have a generous pension plan that for all intents and purposes insulates them from stock market fluctuations that currently threaten the retirement accounts of most of the rest of us.
U. S. House and Senate members are offered a defined-benefit pension backed by the U. S. Treasury and largely protected from market forces. According to The Associated Press, defined-benefit plans are rare, available to only 5%of private sector employees.
In fact, 46% of the private sector is offered no workplace pension of any kind, not even 401(k)s that are so at risk in today’s market and certainly not the guaranteed benefits available to Congress.
It’s no surprise that government and public employed pensions at many levels fare better than most. However, members of Congress are at the top of the heap of this privileged class of Americans.
Our federal representatives and senators are eligible after five years for full pension benefits at age 62. Better yet, those with 20 years in office can get full pensions at 50, younger than most people who really work for a living.
A full congressional pension starts at 80 %, adjusted annually for inflation, of the average of the highest three years of salary – currently $169,300 a year for the rank and file and $188,100 a year for the Senate and House majority and minority leaders.
House Speaker Nancy Pelosi rakes in the highest congressional salary, $217,400 a year, on which she continues to build her retirement nest egg. Figure her pension would start at nearly $174,00 pear, plus annual inflation thereafter, except it probably will rise higher by the time she leaves Congress.
On top of all that, members of Congress may choose to invest in 401(k) or similar retirement accounts that are not backed by the Treasury. But unlike the rest of us, these optional retirement funds are just gravy for Congress, whose members still can count on guaranteed pensions.
As the AP put it, “Despite the financial crisis…Congress has made no effort to revisit its unusually sweat retirement deal.”
Remember that when these members of the ruling class in Washington say they feel your pain or they promise to go after the pensions of greedy corporate executives who led companies to the brink of financial disaster.
How about Congress? It’s part of the privileged class that bears responsibility for what ails the nation.
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January 9, 2010
Why do they vote with their party rather than their constituents?
This morning I’m looking at another political issue that aggravates me. Our two senators are Mark Udall and Michael Bennett. Hopefully they will soon be replaced by Conservatives that vote with their constituents.
You see Mark Udall votes 92% with his party. That means he might vote 8% with his constituents. That’s only maybe.
Then Michael Bennet votes 91% of the time with his party. Meaning only 9% with his constituents.
Then we have our pathetic representative named John Salazar. He votes 97% of the time with his party. Gee that leaves just 3% of the time he maybe votes with his what his constituents want.
This pervasive, pathetic indication that our elected officials vote very seldom with their constituents makes me absolutely sick.
More reasons to vote the bastards out of office just as soon as possible. Frankly I’d be for getting them out of office sooner, maybe by recall, if that is possible.
Well I’ve spoke my peace on this. How about you?
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November 17, 2009
Proposed 28th Amendment to the United States Constitution
This is a great idea. Only need 3/4 of the State Legislatures to pass this to become law…AND IT IS VETO PROOF including no appeal to the Supreme Court.
Proposed 28th Amendment to the United States Constitution:
“Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and/or Representatives, and Congress shall make no law that applies to the Senators and/or Representatives that does not apply equally to the citizens of the United States”.
Let’s get this passed around – Congress has brought this upon themselves!!!
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