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

[FogerRox]

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:

[FogerRox]

1. kicking for visability

[WorseBeforeBetter]

2. K&R

[FogerRox]

9. Thanks for the KnR

[WorseBeforeBetter]

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.

[Massacure]

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.

[FogerRox]

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.....

[Hotler]

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

Kicking

[FogerRox]

6. I appreciate it, thanks.

[WillyT]

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

[FogerRox]

8. Thank you Sir Willy

That kickin donkey is a classic GIF.

[madfloridian]

11. A kick for Social Security.

[Romulox]

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

[FogerRox]

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.

[ProSense]

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

[FogerRox]

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