point is….taxes is what makes the country go...….and if all these corps are not paying.....something has to be cut or done away with....a good start would be in washington where they all draw big money for life!...and health care for life!...….as for individual taxes...….supposedly based on same rate no matter your income....so naturally if you make more...you pay more....but even then those that makes big bucks has a habit of coming up with a lot of tax breaks....that those "without" don't seem to be able to get....they pay people to find all those tax breaks that these congressional lawyers set up for them
speaking of congress...….just a little food for thought...….why is it that when you vote someone out of office their pay does not stop......when they decide to leave...pay does not stop....the rest of the country has to retire...or be 62 or whatever......not someone in congress
How Congress Retirement Pay Compares to the Overall Average
While many Americans are struggling to save for
retirement and employee pension programs, both public and private—and while many are facing lots of uncomfortable realities—elected representatives and senators in the United States
Congress still receive envious pension benefits for life. Retirement pay for Congress is not normally a big election-year issue, but it might serve as evidence of a disconnect between lawmakers and mainstream America.
Overview
The median net worth for a member of Congress surpassed $1 million in 2013, where it remained through 2018. This compares to the average American household median net worth of less than $60,000. As reported by the Center for Responsive Politics, "it would take the combined wealth of more than 18 American households to equal the value of a single federal lawmaker's household." Entering 2019, less than 10% of U.S. households could be classified as millionaires, compared to more than 50% of the members of Congress.12
CNBC. "
Some say 'millionaire is the new middle class'—here's how many Americans are actually worth $1 million." Accessed Oct. 18, 2019.
Congressional members are eligible for their own unique pension plans under the
Federal Employees Retirement System (FERS), though there are other retirement benefits available, ranging from Social Security and the Civil Service Retirement System (CSRS).3 Currently, members of Congress are eligible for a pension dependent on the member's age at retirement, length of service, and salary. The pension value can be up to 80% of the member's final salary.4 Currently, Congressional pay is $174,000 per year, which, at an 80% rate, equates to a lifelong pension benefit of $139,200.5 All benefits are taxpayer-funded.
There are more retirement plan options for a member of the United States Congress than for the average citizen.
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