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State Senate President Officially RECALLED!
- Thread Starter pokerace
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WOOHOO!
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This is great news. Hopefully it spurs additional recalls and puts the fear of the voters into the "representatives".
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this is one way to hold them accountable for their actions against the people of Colorado and the United States in general.The other is at the voting booth! !!
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Yeah well, he'll just resign and let that idiot governor (that also backed the bill, AND signed it into law) appoint someone just as bad, or worse, to his post. They might not have the seniority to keep the Senate presidency, but the dem majority will see that the prevailing anti-gun opinion persists.
The corrupt have many ways to subvert the will of the people, and will never relinquish powers they don't want, or have to.
The Colorado 2014 and 2016 elections should be interesting though.
I believe A LOT of apathy has been purged from the voting public in Colorado.
The corrupt have many ways to subvert the will of the people, and will never relinquish powers they don't want, or have to.
The Colorado 2014 and 2016 elections should be interesting though.
I believe A LOT of apathy has been purged from the voting public in Colorado.
It takes 25 percent of signatures cast in the last election for that district to force a recall, more than twice that was collected. The story says over 10k of the 16k turned in were verified. Not sure if they stopped counting at that point or if 6k weren't valid but if most were that means more than 50 percent of voters signed to recall him which means if they all show up for the election he is toast
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WHOA, TIME OUT!!!!!
This just qualifies the recall petition for the ballot. Don't open the champagne just yet.
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No retirement package if you are fired!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Is that fact or personal feeling? I hope it's the former.
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Why would you hope for someone who is fired to keep his or her retirement package? IRA contributions sure, but that should be about it. Yes, my opinion.
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Just take a look at this bull crap......What Weiner Walks Away With - SmartMoney.com
"Members of Congress are covered under the Federal Employee Retirement System, which features a pension-style plan at minimal cost to employees. They contribute less than 1% of pay, and contributions bear no relation to the benefits. Weiner, 46, has been a Congressman for 12 years and has a recent salary of $174,000 (standard for both the House and Senate). After leaving office he has a couple of choices. He can begin taking discounted pension payments of about $25,000 a year starting at age 56 or wait until age 62 and collect about $35,000 a year.
For the average retirement investor, that's a benefit comparable to $1.2 million in the bank. With the 10-year Treasury yield at 2.9%, that's how much it would take to produce a guaranteed income of $35,000 a year.
Note that such "defined benefit" plans protect the recipient from having to worry about things that concern most investors, like stock market returns and interest rates. Over the past 12 calendar years the U.S. stock market has returned a meager 3.8% a year compounded. Savings yields are at historic lows.
A worker who socked away $12,000 of his own money in a 401(k) plan and received a $3,000 employer match and collected a 3.8% yearly return would have $231,000 after 12 years. Suppose such a worker left his job today and rolled over his 401(k) proceeds to a self-directed retirement account. Also, suppose future returns and yields look better than current ones. He grows his money at 5% a year and then draws a 4% income in retirement. By age 56 said worker would have enough to produce $15,000 in yearly income. If he waited until 62 he could collect $20,000.
If that seems unfair, it gets worse. First, the 401(k) saver is contributing mostly his funds, while the federal pension is paid mostly from taxpayer funds. Second, after retirement he must think about things like the rising cost of living, whereas the federal plan adjusts automatically for the rising cost of living after retirement. Third, any risk that the federal pension won't perform well enough to pay its obligations is borne by taxpayers, not federal workers. Fourth, federal employees don't miss out on being able to contribute to 401(k)-style plans. They have one of those, too.
In addition to his pension, Weiner will collect from this additional plan, plus Social Security. He also has a blue-chip stock portfolio that disclosure filings show was worth $226,000 in 2009 when the market had tanked, so it's probably worth about $300,000 now.
Add to that any retirement savings the Congressman had from his six-year stint as a New York City councilman, plus whatever CNN inevitably pays him in the future to co-host next to Eliot Spitzer.
The point here isn't that politicians don't deserve decent retirement plans. The last thing America needs is financially-insecure lawmakers. But Weiner is getting the equivalent of a $1.2 million exit payment after serving just 12 years on the job. Now that's worth tweeting about. "
"Members of Congress are covered under the Federal Employee Retirement System, which features a pension-style plan at minimal cost to employees. They contribute less than 1% of pay, and contributions bear no relation to the benefits. Weiner, 46, has been a Congressman for 12 years and has a recent salary of $174,000 (standard for both the House and Senate). After leaving office he has a couple of choices. He can begin taking discounted pension payments of about $25,000 a year starting at age 56 or wait until age 62 and collect about $35,000 a year.
For the average retirement investor, that's a benefit comparable to $1.2 million in the bank. With the 10-year Treasury yield at 2.9%, that's how much it would take to produce a guaranteed income of $35,000 a year.
Note that such "defined benefit" plans protect the recipient from having to worry about things that concern most investors, like stock market returns and interest rates. Over the past 12 calendar years the U.S. stock market has returned a meager 3.8% a year compounded. Savings yields are at historic lows.
A worker who socked away $12,000 of his own money in a 401(k) plan and received a $3,000 employer match and collected a 3.8% yearly return would have $231,000 after 12 years. Suppose such a worker left his job today and rolled over his 401(k) proceeds to a self-directed retirement account. Also, suppose future returns and yields look better than current ones. He grows his money at 5% a year and then draws a 4% income in retirement. By age 56 said worker would have enough to produce $15,000 in yearly income. If he waited until 62 he could collect $20,000.
If that seems unfair, it gets worse. First, the 401(k) saver is contributing mostly his funds, while the federal pension is paid mostly from taxpayer funds. Second, after retirement he must think about things like the rising cost of living, whereas the federal plan adjusts automatically for the rising cost of living after retirement. Third, any risk that the federal pension won't perform well enough to pay its obligations is borne by taxpayers, not federal workers. Fourth, federal employees don't miss out on being able to contribute to 401(k)-style plans. They have one of those, too.
In addition to his pension, Weiner will collect from this additional plan, plus Social Security. He also has a blue-chip stock portfolio that disclosure filings show was worth $226,000 in 2009 when the market had tanked, so it's probably worth about $300,000 now.
Add to that any retirement savings the Congressman had from his six-year stint as a New York City councilman, plus whatever CNN inevitably pays him in the future to co-host next to Eliot Spitzer.
The point here isn't that politicians don't deserve decent retirement plans. The last thing America needs is financially-insecure lawmakers. But Weiner is getting the equivalent of a $1.2 million exit payment after serving just 12 years on the job. Now that's worth tweeting about. "
Easy does it. I didn't know how things like that worked and I couldn't tell by the way you worded your post if that was fact or personal opinion. Sheesh. Take it easy.
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Are they going to hang him in public?
That would be GREAT, especially if preceded by a good old Singapore style caning - on PPV to help allay the debt run up by the Dems.
That would be GREAT, especially if preceded by a good old Singapore style caning - on PPV to help allay the debt run up by the Dems.
No, that's worth being po'd about.
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maybe we can recall oba-mao.....
Sorry, sent before I finished.
Disregard this one
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