I just got a reader email that opened as follows:

“Derb—I retired from the Army, and since my retirement have cashed close

to $400,000 in retirement checks, and will continue to do so until I die.

Meanwhile, it will be another 18 years before I become eligible for Social

Security (which I have paid into since Nixon was President), assuming that

they don’t raise the age to receive benefits in the meantime….”

This agrees with the impression I get from the older people I know. A

couple of successful capitalists aside, all the ones most comfortably

provided for spent their entire working lives in government service. My Dad was right.