Social security is insufficient. It makes retiring harder which means people work longer than they like. And in turn, that has a downstream impact on younger people’s careers – just one small reason that younger people need to care about this pressing issue. Most importantly, social security doesn’t provide a realistic livable wage.
It causes retirees to scrimp and save to the point that they are barely able to participate in the local economy, and this has negative impacts on small businesses.
Increases to social security don’t simply support retirees. Increases to social security would also support working families and small businesses. It’s a no-brainer – supporting social security is an important component of gush-up economics.
Here are some other key points to consider when it comes to ensuring seniors have what they need:
- Medicare for All would help control healthcare costs for seniors
- My plan for a pharmaceutical manufacturer of last resort would control drug costs for seniors
- Decreasing income taxes on taxpayer’s first $50,000 decreases the taxes paid by seniors out of their pensions
- Increasing the minimum wage would be a boost for many of the part-time jobs performed by seniors
- Seniors, like all Americans, need a monthly stipend for the duration of the pandemic. That’s guaranteed income for seniors that will give them at least a baseline income in the event that the economy and public health crisis doesn’t allow them to safely return to their traditional job.