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Social Security: An Economic Engine That Benefits Everyone


#1

Social Security: An Economic Engine That Benefits Everyone

Max Richtman

Mention Social Security and most people immediately think of the monthly checks received by the program’s 62 million beneficiaries. Each day we see and hear how retirement, disability and survivor benefits keep people afloat and prevent them from falling into poverty. (Nearly half of beneficiaries rely on Social Security for all or most of their income). But that money isn’t just a lifeline to beneficiaries and their families, it’s an economic boon for their communities and the entire nation. Every year, $800 billion dollars flow to beneficiaries who spend much of their income locally.


#2

Electing representatives who will expand Social Security excludes all Republicans and most Democrats. In top two primary states like California and Washington Republicans and Democrats are the only one on the November ballot.


#3

The common people see Social Security as a universal good. The rich see Social Security as a pile of money they haven’t been able to steal…yet.


#4

Socialism In Action, Not Duopoly Inaction.


#5

“I’m gonna keep Social Security without change, except I’m going to get rid of the waste, fraud, and abuse; same thing with Medicare."

Donald Trump


#6

“Thanks to this ‘multiplier effect,’ every dollar paid in Social Security benefits produces $2 in stimulus to the economy. That adds up to more than $1.6 trillion dollars in national economic stimulus annually. Social Security benefits are responsible for sustaining some 10 million jobs, including roughly $400 billion in salaries and wages. With figures like these, even Wall Street must acknowledge that Social Security is incredibly good for Main Street.”

Now we’re talking turkey!

Let’ s extend that reasoning and “oikos” into INVESTMENT models. The co-op model, which is soundly muscular at the local and regional level proves similar economic principles: member and employee owned; employees earning robust living wages; local producers given priority; local business round tables and development support; for every $1,000. spent in the co-op, $1600 goes into the community.
Local savings banks and credit unions - the list is now robust, with proven track records and mutual respect.

Of course we’re seeing monopolies cannibalizing and bloating. Let them! Make them irrelevant by embracing social / spiritual principles, local investment, live simply so that others can simply live.

There is a wealth of benefit inherent in simply dropping out of abusive business practice models.

Who needs violence with alternatives like this??


#7

Thanks to Max Richtman for stating the obvious: in general, all public spending circulates throughout the economy.
There is one glaring exception to this economic truth however. Nearly all military spending creates human suffering, degradation, pollution, destruction, etc. It is an absolute financial negative of massive proportions.

This is what is so disheartening about F-35 Bernie and much of the progressive Blue Wave movement: as long as they ignore the moral, human and economic disaster that is the permanent U.S. war against our biosphere and humanity, there will not be enough material or spiritual resources for the programs that they (correctly) promote – like expanding Social Security. Math is math.