Government Pensions Create Hidden Millionaires.

Many fireman, police, congressman, senators, mayors, city employees, and many other government employees get over $100,000 a year pensions for life, even $200,000 and more per year, plus medical coverage — from citizens’ taxes. A regular citizen would have to save up over $3 million dollars to earn enough interest to have a return like that. So these pensioners are millionaires and even better, it is very hard for them to lose the government pension. In other words, this means your taxes are their millions by paying these pensions.

The regular citizen can lose his millions in the stock market, real estatemarket, or be sued, and many other ways. But there are many more than 6.7 million households that are worth over 1 million when you consider the value of a lifetime pension at taxpayer expense.

More importantly, many of them never paid into Social Security.

This entry was posted on 25. September 2009 at 19:48 and is filed under Government Pensions, Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.