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Tue Mar 12, 2013, 08:02 PM

Create 20 million jobs and watch the FICA roll in.. SS good thru 2090

If I recall correctly in 2011 the CBO scored the Social Security shortfall over 75 years as .6% of GDP. To illustrate this point, I'm going to do a little math on my droid calculator. In a 15 trillion dollar economy .6% equals 90 billion. If we create 20 million jobs, at $36,000 per year, thats $4464 in FICA each person will pay, each year. $4464 times 20 million is 89.2 billion dollars. Nearly a match.



If we do nothing but create jobs for those who are looking for full time year round work, we will help to see Social Security solvent thru 2090. The Boomers will be long dead around 2050-2060, so they won't be collecting benefits in 2090.

Again, there is nothing wrong with Social Security that a good economy wont fix. When I say good economy I mean one with lessening income disparity, wage growth equal to or better than inflation. A good economy means keeping unemployment low, 4-5%. I mean raising the minimum wage in a timely fashion.

Elad might have the DU Social Security/Medicare group all set up before the Daily Kos Social Security Defenders blogathon March 25-29, if so, both groups can participate: Please share these graphics on Facebook and Twitter:







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Reply Create 20 million jobs and watch the FICA roll in.. SS good thru 2090 (Original post)
FogerRox Mar 2013 OP
FogerRox Mar 2013 #1
WorseBeforeBetter Mar 2013 #2
FogerRox Mar 2013 #9
WorseBeforeBetter Mar 2013 #10
Massacure Mar 2013 #3
FogerRox Mar 2013 #5
Hotler Mar 2013 #4
FogerRox Mar 2013 #6
WillyT Mar 2013 #7
FogerRox Mar 2013 #8
madfloridian Mar 2013 #11
Romulox Mar 2013 #12
FogerRox Mar 2013 #13
ProSense Mar 2013 #14
FogerRox Mar 2013 #15

Response to FogerRox (Original post)

Tue Mar 12, 2013, 09:06 PM

1. kicking for visability

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Response to FogerRox (Original post)

Tue Mar 12, 2013, 09:24 PM

2. K&R

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Response to WorseBeforeBetter (Reply #2)

Wed Mar 13, 2013, 10:03 AM

9. Thanks for the KnR

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Response to FogerRox (Reply #9)

Wed Mar 13, 2013, 01:37 PM

10. My pleasure.

Social Security and Medicare are the end of the line for me, and I don't trust Obama and the CorporaDems -- AT ALL -- to do the right thing.

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Response to FogerRox (Original post)

Tue Mar 12, 2013, 09:39 PM

3. Not to be a downer, but...

Just to play devil's advocate...

How many of those people would have worked less than 35 years without those jobs? Each year adds $1028 to their average salary, and the get payed at least 32% on it. That would be an extra $27 per person per month SS would be paying out.

Or they would be earning $13 more than if they had spent that year earning minimum wage. I believe everyone should be able to work a $36,000 a year job, but just want to point out that the original argument is missing a piece of its logic.

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Response to Massacure (Reply #3)

Tue Mar 12, 2013, 11:27 PM

5. It is an iluustrative point, which apparently you just mashed your forehead on.

(50 percentile) Median income for all US workers (part time seasonal, full time year round) in 2011 was 23k. Median Household income was 49k. Median income for a male working year round full time...... was.......

Go ahead guess........


Median income for a male working year round full time...... was.......


Give it a shot.....

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Response to FogerRox (Original post)

Tue Mar 12, 2013, 10:08 PM

4. Don't speak logic with me......

Kicking

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Response to Hotler (Reply #4)

Tue Mar 12, 2013, 11:27 PM

6. I appreciate it, thanks.

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Response to FogerRox (Original post)

Tue Mar 12, 2013, 11:29 PM

7. Another Huge K & R !!! - THANK YOU !!!

 






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Response to WillyT (Reply #7)

Tue Mar 12, 2013, 11:53 PM

8. Thank you Sir Willy

That kickin donkey is a classic GIF.

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Response to FogerRox (Original post)

Wed Mar 13, 2013, 01:39 PM

11. A kick for Social Security.

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Response to FogerRox (Original post)

Wed Mar 13, 2013, 01:51 PM

12. Our economy hasn't produced any sort of broad-based prosperity in nearly a generation...

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Response to Romulox (Reply #12)

Wed Mar 13, 2013, 02:01 PM

13. Clinton, The Ragin Cajin recently cited 22 million jobs, nearly a generation ago.

And a BTW, 36k is median income for a make working full time year round. 2011 Census report, table A-5

http://www.census.gov/prod/2011pubs/p60-239.pdf

20 million jobs is used to illustrate that roughly the number of people without a full time year round job, are roughly the amount of jobs needed to see SS thru 2090.

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Response to FogerRox (Reply #13)

Wed Mar 13, 2013, 02:12 PM

14. Job creation is crucial, but

"Clinton, The Ragin Cajin recently cited 22 million jobs, nearly a generation ago."

...jobs alone isn't going to change the equation. The minimum wage needs to be increased.



http://thinkprogress.org/economy/2013/02/27/1644721/wealth-gap-tripled-25/

The Titanic Wealth Gap Between Blacks and Whites
http://prospect.org/article/titanic-wealth-gap-between-blacks-and-whites

CHART: Remember When Poor People Saw Their Incomes Grow Faster Than Rich People?
http://www.democraticunderground.com/10022417514

Capital Gains Tax Cuts ‘By Far’ The Biggest Contributor To Growth In Income Inequality, Study Finds
http://www.democraticunderground.com/10022407211

Even in the face of massive job creation, Clinton still targeted Social Security.

Gingrich, Clinton, Obama... and Social Security.
http://www.democraticunderground.com/1002227973

He also raised taxes on Social Security benefits.

http://www.democraticunderground.com/10022420898

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Response to ProSense (Reply #14)

Thu Mar 14, 2013, 08:42 PM

15. Most tax policy now skews income disparity, From outsourcing to Estates.

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