Meager Income

Pay Off Debt, Retire Comfortably on Meager Income, Win the Lottery, Not Necessarily in that Order

Congressman Fleming Emulating Latrell Sprewell

Posted on | September 19, 2011 | No Comments

I follow basketball more than the average person.  Sadly, I think most people who have heard of Latrell Sprewell will only remember him because of the following statement he made in the midst of contract negotiations:

“I told you I needed to feed my family,” Sprewell said at a press conference yesterday. “They offered me 3 years at $21 million. That’s not going to cut it. And I’m not going to sit here and continue to give my children food while this front office takes money out of my pocket. If [owner Glen] Taylor wants to see my family fed, he better cough up some money. Otherwise, you’re going to see these kids in one of those Sally Struthers commercials soon.”

I doubt anyone gave him much sympathy.  You can do the math.  I’m pretty sure anyone with that kind of contract would have more than enough to feed his three children for many years.

I stand corrected though.  Apparently, the Republican Party is very sympathetic to his plight.  In fact, after Obama unveiled his Plan for Economic Growth and Deficit Reduction today, Congressman John Fleming said on MSNBC that he needed $200,000 a year just to feed his family and could not afford to pay any more in taxes.  Watch for yourself below.

As a congressman, I don’t think he has time to be too involved in the day to day activities of his medical practice or other businesses.  The businesses are basically generating passive income for him.  He also receives $174,000 in salary as a congressman and all the benefits that holding public office affords him.  Is he really this out of touch?  How does he think his constituents that don’t earn at least $600,000 annually feed their families? What I’d really like to know is how he can pay 500 people on $6.2 million in revenue. Something isn’t adding up or he has a lot of part-time workers to avoid paying benefits. Although, Louisiana doesn’t have a minimum wage so they must follow the federal minimum wage. How do his employees have enough money to feed their families?


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