Stan Geiger

Tax Money Funds Lucrative Retirements for the Wealthy

Interesting numbers from Joe Kelly on KRMG's website:

The price tag for Clinton's federal retirement allowance from 2001 through the end of this year will run $8 million, compared to $5.5 million for George H. W. Bush's and $4 million for Jimmy Carter's during the same period.

Since 2001, Clinton has received more of almost every benefit available to former presidents -- from his pension to his staff's salaries and benefits to supplies. His $420,000 phone bill and $3.2 million office rent tab both nearly surpassed the totals rung up for those purposes by Bush, Carter and the late former presidents Gerald Ford and Ronald Reagan combined. As a group, they spent $484,000 on telephone service and $3.8 million on rent in the same span.

Obviously, we the people pay for everything in Bill Clinton's life. This in spite of the fact that it has recently been revealed that the Clintons have grossed $109 million since leaving the White House.

A $420,000 phone bill, Bill?! C'mon!

I mean who does he think his is, president of OU or something?! A football coach?! A police chief?!

Don't get caught thinking only retired presidents of the U.S. get this kind of stuff. The problem of benefits for government retirees is widespread and extremely expensive. And, clearly, the trend is heading in the wrong direction.

We live in a study-happy day. Though it would be a monumental task, I'd like to see a study done that reveals just how much tax money, in the aggregate, goes to nothing but retirement benefits for government employees.

I'll throw out an example.

Oklahoma's state government gave common schools $2.5 billion in this fiscal year---well more than all the money collected via the personal income tax. The biggest expense relative to running any school is payroll and benefits for employees. I'm not exactly sure what the percentage is at present. It was recently increased. But, prior to the increase, the law required that over 14 percent of total compensation had to be contributed to the Oklahoma Teachers' Retirement System. Some of that is supposed to come out of employees' checks, some out of the employers' budgets. But either way, the money comes from taxpayers.

It is a given, then, that a very large portion of what the state donates to common "education" is simply handed over to the educators' pension fund, so educators can retire early on pensions for life the size of which most people can only dream about.

Take care of this public employee retirement crap and you'll take care of a large portion of your current---and future---tax burden.

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