An Immediate increase in the average Social security benefit to $3,000 per month Due to the failure of our retirement reform programs and the disappearance of defined-benefit pensions that were a staple of the legacy United States businesses during the golden age of Capitalism after World War II, retirement security has not been in such disarray since before the Great Depression. Moreover, we know that arguments that we cannot afford more generous social security benefits based upon the Fallacy of Federal Government Finance are wholly invalid. Consequently it will serve the Public Good to immediately increase the average social security benefit to $3,000 a month or $36,000 per year. Seniors have worked their entire lives and our common Civic Duty requires that we use the Public Purse to provide those who can no longer work with a dignified retirement wherein they can pursue their own happiness and not just the pittance they currently receive. This proposal will immediately move the needle toward maximum employment and production for several reasons. First, senior citizens will spend their money. They are retired and if they are guaranteed this increase in lifetime income, we have evidence in the economics literature that this will encourage consumption which will in turn raise employment and output. Moreover, because younger, working citizens will have a guarantee from the Public Purse of a more dignified retirement, they will be less inclined to hoard their income now and use it for investment, to take bigger risks in entrepreneurial ventures, or to use it for consumption purposes, all of which will raise output and employment. ~ Proposal by Cory Hoffman, Candidate for Congress in Ohios 9th Congressional District 2014
Posted on: Sun, 30 Mar 2014 21:05:30 +0000
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