Tuesday, August 2, 2011

You Can't Spend What You Don't Have

I was brought up by Depression Era parents who taught me about saving whatever I could.  They never had that luxury while living paycheck-to-paycheck.  I learned to buy only what I could afford to pay for, which is probably why I am in the same home I purchased in 1972.

If you follow this blog, you have probably read my rants about taxing the public pensions of seniors.  Your Governor has decided to ask the the Supreme Court for an opinion on whether or not he violated the Constitutional provision against diminishing a public pension.  You would think he would have considered that before they passed the legislation.

Anyway, I do not see how he thinks seniors will help in an economic recovery if they have fewer dollars to spend at his friends' businesses.  I am already facing a decrease in my Social Security this November because I will have to start paying for Medicare Part B.  This will take about $1,400 out of my income.  Add to that the $1,600 or so I will be taxed on my pension.  That is $250 a month I am not spending on something I was previously buying.

The case is the same for many seniors I have talked to who have public pensions.

Now, please spare me the story of how you pay a tax and it is only fair.  I stayed in the public sector making less than I might have made in the corporate sector and the fact that I had a defined benefit pension that would not be taxed at the state level was part of my decision.  I voted against a having a Constitutional Convention for that very reason I did not want to see the pension tax provision removed.

So, after hearing that we seniors are a 'drain on the economy', 'receive services for which we do not pay', (whatever the hell those services are) and that 'we need to contribute more', please tell me exactly how I am supposed to spend what I no longer have? 

Maybe one of those Congressmen in D.C. who seem to have it figured out can tell me.

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