New Kucinich Program Aims to Create A Million New Jobs
Putting those of us who are middle-aged out to pasture with Social Security is not such a great solution for the people whose retirement accounts were decimated by the market crash - not to mention, of course, the president's plan to allow a bipartisan commission "suggest" Social Security and Medicare cuts in the near future.
But hey, at least Kucinich is at least trying to do something about jobs -- which is more than you can say for most members of Congress:
CLEVELAND -- An Ohio congressman pushed for a new program to add a million new jobs Monday.
Congressman Dennis Kucinich unveiled his plan Monday afternoon at his Lakewood office.
Kucinich proposed offering early retirement with social security benefits and health insurance subsides to people as young as 60 years old. He said that will free up as many as a million new positions in businesses that have already shed jobs.
"In every business, people are cutting to the point of where they're not functioning the way they used to. So, this gives business a chance to get new blood in. At the same, be able to do it in a way that they don't have to have access more money to do it,” Kucinich said.
Kucinich said he’ll introduce his Kucinich job plan bill this week on the floor of the U.S. House of Representatives.
More info here.
An actual, real idea. Would it work? I'm not an economic expert, so I can't comment on that, but it does sound good. Anyone?
This could be a phenomenal proposal. In terms of how it could affect the economy is through taxes. We could either see the rate of Social Security increase, or the removal of the current Social Security cap at $106,800. With the removal of that cap, we could see a flourish in the job market, and the fears of Social Security going bankrupt vanish.
With the way the GOP is playing it, right now, we're likely to just see the rate raised, if this was to even make it out of the house.
Anyone else have insight on how this might work, in theory?
(as Mr Kucinich obviously does) people age 60+ are at the top of their salary grades ... but would retire with coverage ...and would be replaced by 'less expensive' workers just starting out ...employers should LOVE it ...
I'm Boycotting NewsCorp! Heres what not to buy: http://www.cjr.org/resources/index.php?c=news...
that's needed to happen for a LONG time.
Add another brick to the pyramid before it crumbles. You can only stack single bricks at the top so high. I think we should have to fix what we have before we add to it.
The people would need to accept such an offer. With so many wanting to build up their resources, they would be hard pressed to take this if it capped their ability to build or earn!
A similar idea was floated by Thom Hartman months back. The problems with it are both several and obvious:
(1) We're already facing some tough choices in regard to Social Security, e.g., raising taxes, because of the number of boomers, and compounded by the likelihood that tomorrow's recipients are likely to live longer than today's recipients.
(2) The argument doesn't account for the fact that a lot of wage earners pay into the system but never recover because they die early. While it sounds morbid, and unfair, the system depends on this result. Reducing the retirement age to 60 would completely change the landscape, and result in benefits being paid to a whole new cohort.
(3) The plan presumes that the labor market will tighten because those age 60 will stop working. This is a pretty bad assumption. Many people already receiving Social Security continue to work in order to supplement their income, e.g., Wal-Mart greeters. Additionally, I suspect a lot of people will be unable to save enough to provide adequate supplement to their Social Security benefits, a necessity given that: (i) the present recession has wiped out a lot of 401k accounts; (ii) home mortgages are not usually satisfied by age 60; and (iii) parents are often forced to delay saving in order to send their children to college, a necessity given the outrageous, supernormal growth in college tuition. Allowing people to retire at 60 will thus not tighten the labor market, but instead result in a lot of double-dipping, thereby raising the costs of Social Secuity without the attendant benefit of decreasing unemployment.
(4) The argument also fails to account for the lost productivity we'd likely experience. Frankly, at least as far as white-collar industry is concerned, there's a fair bit of productivity left between 60 and 65, given that importance of experience. I'm not sure that we'd want to throw all that experience overboard. And, to the extent we allowed people to continue working, you're right back at square one, only now you're paying them Social Security, too.
(5) The argument also assumes that employers will refill these positions, a tenuous assumption given the present economy, and not ship them off to Mexico or China, a tenuous assumption given the structual problems with our economy generally.
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"Kucinich said he’ll introduce his Kucinich job plan bill this week on the floor of the U.S. House of Representatives."
Where it will be promptly gutted in the name of "bipartisanship".
Oh, fuck you. You're obviously right.
Grumble, grumble. Wrecking my orgasm...
;)
The Dems have the majority it's their baby. You don't get to call it bipartisan when you are holding all the cards.
Bravo Kuci!
Keep on the good fight!
Here is what Michael Moore think about the "Democrats" en General
“The Democrats] don’t have the guts. They don’t have the courage of their own convictions. They’re disgusting. I’m embarrassed,” Moore says. “I want really nothing to do with them. And if they don’t find their spine, well, they’re in for a huge surprise in November.
http://www.democracynow.org/2010/1/26/michael...
He also describes how he was used by the Gang of Five Traitors in this weeks SCOTUM decision ...
I'm Boycotting NewsCorp! Heres what not to buy: http://www.cjr.org/resources/index.php?c=news...
Who cares what that windbag has to say?
I am pretty sure KUCINICH feels the same way about "Corporated Democrats'
I said windbag, you know Michael Moore.
Your a windbag. Michael Moore tells the truth about how fucked up our government is. If you don't understand that, then you are clueless too!
Rush Limbaugh is what a smart person thinks a stupid bigot sounds like.
Because, he's almost always dead on right.
And for the record, I supported Kucinich from day one..
As for the plan, I think it's great. There are a lot of people who can start to take cash out of their IRA at 59 1/2, but they cannot draw from SS yet.
At my age, I have to wait till I'm 62 1/2 to take early SS.
He could be partially guessing at his math, but if I was turning 60 this year, I'd love the idea and would stop working immediately..
in a NY minute.
I gotta agree with Moore too.
There are only two in politics that I trust anymore , Dennis Kucinich and Bernie Sanders , if either run for President I will vote again . I like this idea but there's one big problem , it will go absolutely no where .
Ironic that the top of Kuch's head is cropped off in the pic as he is the only one in congress who seems to be using that part of his body these days.
The people of privilege will always risk their complete destruction rather than surrender any material part of their advantage." J.K. Galbraith
Like anyone that has a good paying job "at the top of the earning curve" wants to retire to pursue a lucrative social security career. The employers may love it but the old guys may not. Once again seems to me like "progressives" putting the old out to pasture.
Yeah, it sounds good on the first look.
But what can Dennis do for those of us who aren't so close to retirement anyways? I'm 48 and was let go last May. I was among the highest paid at my company (and, not to toot my own horn, easily one of the most skilled workers there), so, from a purely short-term economic stand point, it made sense to terminate me. (I'm not going to comment on the quality of product that my former employer now produces...)
I'm not 5 years away from retirement, yet probably too old to take advantage of some new career training. I'm really good and skilled at my former career, in a new career, I'll be just as good as a 19 year old. While I may have a greater work ethic than a 19 year old, I'll also be much more likely to challenge management than any 19 year old would. If you're management, in these economic times, who are you likely going to hire? Yeah, I thought so.
Prospective Employer: Are you willing to work for slave wages?
19-Year-Old: Yes Siree, no problem, boss!
Propsective Employer (to 60-year-old): Are you?...........Excuse me, go WHAT myself?!!!!!
You just sold yourself short. I would say who would want to hire the 19 year old. Young people can be inconsistent and as you said display poor work ethic.The way you presented it I would hire you before the younger guy but I would not be effected by any pretense that you would challenge my management. You will find something else there just is not anything right now.
but that's me...so why don't you go STFU....
I didn't ask for your effing editorial...so again...STFU.
Michael Moore is one of a very few who presents facts and REAL commentary on the totally screwed up country we have, and thus guy thinks he's a windbag.
Rush Limbaugh is what a smart person thinks a stupid bigot sounds like.
a policy that has failed all over europe for decades, which was recognized by most european governments a decade ago with subsequent policy changes, and kucinich proposes the same thing in 2010?
how out of touch can you be.
Maybe all of those social safety nets (like health care) that they have, make it less appealing.
Rush Limbaugh is what a smart person thinks a stupid bigot sounds like.
I'd love to see Kucinich start a Socialist party, Ron Paul start a Tea Bagger party, and have them both be competitive with the Democrats and Republicans.
At least then, you'd hear a variety of opinions, rather than the MSM talking points. Maybe one of them would win and something would actually happen.
Letting a company rid itself of older emps for younger under paid ones will solve little. There are plenty of workers that could retire and draw SS now who don't choose to do so. Why not entice them to retire by offering something ? It would be less costly and accomplish the same thing. Open Medicare to all those 60 and above. How many do you think wait until they are eligible for Medeicare to retire ? But wait, the Repubs won't let this pass because their goal is to abolish Medicare.
looking for ways to help the People. Amazing. I remeber a time when that's what the Democratic party was all about. Now, guys like Kucinich are an anomoly.
They'll fight him tooth and nail, because the GOPers and the corporatist "Democrats" want social security to fail so that they can maximize their excuses for "privatizing" it.
the only Democrat I'll vote for in 2012 is Kucinich. IF he isn't on the ballot, I'll sit it out.
They are existing jobs. You take people out of jobs and put others in them. What we need is more Americans working. What is the real difference in paying someone unemployment benefits vs social security?
This is what happens when you listen to the Dem leadership. You get handsome, photogenic, smilingly glib empty suits wearing collars whose leashes are held by corp-rat Amerika. Real fighters for the people like Kucinich are not wanted because they aren't...'electable'.
What was that old line again about 'books' and 'covers'?
I suspect there are lots of 50+ folks who would be happy to try their hand at starting a business or working for nonprofits, etc., if they were provided with healthcare. Lower the coverage age to 50, provide several years of free or heavily subsidized coverage with the promise that if the subsidy is lifted in the future the enrollees under 65 will have the option of either continuing to buy into Medicare at a reasonable rate or that insurance companies will be required to take them on without regard to existing conditions, etc.
i did vote for Obama only because kuchinch wasn't a serious competitor numbers wise and i really didn't want hillary. however, i really do wish this guy was our president. he has intelligence good stances and most of all guts to do what is right.
I know its been pretty hard for people for the age of 50 to find jobs. It might be a good idea to offer people who are 60 early retirement with medicare. I just retired and will collect my first retirement check in March. Am 62. I have many medical problems and just can't keep up and do the best job I can do. Am lucky because my husband is a little younger than me and is still in the work force. I do worry about the people who are unemployed and can't find jobs. I don't care who these people are I worry for them too. You can't be human and not worry. I voted for Obama but I am getting tired of pep talks. I have been doing well since he came to office but I worry others that have families and need jobs and healthcare.
Southern Yankee
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