Retail therapy: Mall chief's $137M year
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To K4chat and others that think Government retirement is over the top (and did not due their homework, a.k.a. know the facts).
Lets give an example:
The average Government employee earns $52k/year (higher than most because the government hires a lot of college graduates for speciallity jobs). If that person would retire in 3 years @ 60 with 26 years of service, they would take home a total of $14,500 in retirement pay. Add about $1,200 in SS @ 62 and we have a total of $28,900/ year. That is total, you need to take Fed and State and school and county tax from that....medical insurance and life insurance from that. The result is that you are in the food stamp range.
So you to can get this very large retirment by getting a government job, unless you have a drug problem or have big jail time, maybe that is the problem with K4chat.
He should live off of $31500 and maybe he wouldn't make a stupid statement like that. Wait til the revolution i'll bet he's one of the 1st to go.
You got it right. Unfortunately it's over everyone's head to grasp the simple economics of the situation. I grew up thinking I could do anything with a little sweat and hard work. I never begrudged another man his earning potential. I was told the sky is the limit. And for me it was. How sad that today these next generations are being sold the bill of goods that "Average" is all they can aspire to. Think average, be average, do average. Very sad indeed!
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