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Tool Talk Discussion Forum

Thank you, Mr. and Mrs. Taxpayer!

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Fawteen

12-29-2006 14:21:05




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Just got my annual cost of living increase in my Navy retirement. 'nother $50 a month after taxes.

I'm making more on my pension than I did the first 10 or more years of active duty.

Of course, gas was 50� a gallon too...




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XRogerX

12-30-2006 20:06:24




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 Re: Thank you, Mr. and Mrs. Taxpayer! in reply to Fawteen, 12-29-2006 14:21:05  
What's a pension?



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Fawteen

12-31-2006 03:44:14




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 Re: Thank you, Mr. and Mrs. Taxpayer! in reply to XRogerX, 12-30-2006 20:06:24  
That's where they pay you to stay home and sit on yer donkey.

Whereas "active duty pay" is where they pay you to come to work and sit on yer donkey...

";^)



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SDE

12-30-2006 08:47:29




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 Re: Thank you, Mr. and Mrs. Taxpayer! in reply to Fawteen, 12-29-2006 14:21:05  
A person had said that if two people were the same rank with the same time in service, and one retired at twenty years and the other stayed for another eight to ten years, the first retiree makes more money at the time that the second one retires.
USAF-4yrs Go Navy



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super99

12-30-2006 08:18:41




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 Re: Thank you, Mr. and Mrs. Taxpayer! in reply to Fawteen, 12-29-2006 14:21:05  
Thank you for your service to our country. My son (25) joined the Navy last summer and is stationed at Groton, Conn. in sub school. He got to come home on the 28th and goes back on Jan3. He is a torpedomans asst. and said that his goal is to get Mahi, Mahi dolphins. Probably spelled it wrong. He gave me a Navy flag to fly. Great, Love to do it, wife got me a new flagpole for Christmas. Opened it up and it is a USNavy Retired flag. If you would be interested in it, or know someone who would be, e-mail me and then I'll get a Navy flag to fly. Have a safe new year, Chris

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Jerry (KS)

12-29-2006 17:30:55




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 Re: Thank you, Mr. and Mrs. Taxpayer! in reply to Fawteen, 12-29-2006 14:21:05  
Yeah, ain't it great. I start getting my increase in S.S. checks in January....Just so everyone else knows..... .WE'RE WORTH EVERY PENNY. Right?



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Fawteen

12-30-2006 03:55:43




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 Re: Thank you, Mr. and Mrs. Taxpayer! in reply to Jerry (KS), 12-29-2006 17:30:55  
That's MY story, and I'm stickin' to it...

At current rates, when I'm eligible for SS, I'll actually be able to RETIRE on it, as supplemented by my Navy pension.

Of course, I'll still work at something, cuz if I sat around the house all day, SWMBO would either find something for me to do, or strangle me...



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Easy1

12-29-2006 20:52:37




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 Re: Thank you, Mr. and Mrs. Taxpayer! in reply to Jerry (KS), 12-29-2006 17:30:55  
I saw an analysis of the SS benefit recently. If you wanted to equal the benefit, with the COLA provision, you would need in excess of $300,000, in current dollars, to buy a comparable annuity. This is why wall steet would love to end the SS system. Right now, SS provides about 80% of retirees income, on average. It's a good deal for the common folk.



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Fawteen - Oops...

12-29-2006 14:22:26




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 Re: Thank you, Mr. and Mrs. Taxpayer! in reply to Fawteen, 12-29-2006 14:21:05  
Wrong board.

Thanks anyway...":^)



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