This week, vice presidential pick Joe “Plugs” Biden was on the campaign trail in Colorado, promising a full-scale attack on corporate greed if he and Lord Obama win. Biden vowed to target executives of failing companies who draw big salaries: “Their pensions go first!” he told the cheering crowd. (And that is scary stuff, because next they can come for your pension.)
But thisaudience didn’t hear Biden talk about the details of his own pension plan. The National Taxpayers Union recently took a look at the retirement packages for Joe Biden and his fellow legislators and discovered they’re doing great,despite the financial turmoil in the rest of the country.
The plan Biden can choose has what’s called a “defined benefit” option backed by the US Treasury. That means he’s sheltered from the ups and downs of the stock market; he gets a generous pension no matter how bad liberal legislation screws up the economy for the rest of us. And Joe also has the option of drawing his benefits earlier than private sector employees, and his contributions accrue faster.
The private-sector greed that Biden attacks cannot hold a candle to the greed liberals have for
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