Save Social Security by Rasing the Minimum Wage

Discussion in 'Economy' started by G Edward Cook, Feb 19, 2006.

  1. G Edward Cook
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    G Edward Cook Rookie

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    Raising the minimum wage from $5.15 per hour to $8.00 could not only help millions of Americans but could save our Social Security.
    I feel the minimum wage of $5.15 per hour is immoral. A person working forty hours per week, 52 weeks a year clears barely enough to pay for medical insurance for his family. This is a disgrace! The minimum wage hasn't gone up in years. We need to raise the minimum wage to $8.00 per hour, then raise it another 25 cents per hour each year thereafter.

    Raising the minimum wage to $8.00 would shore up social security because of the added taxes paid to the Social Security Fund. This amount would be more than one might think.
    A worker earning the minimum wage of $8.00 would contribute an extra $712.28 per year to the Social Security fund. The worker would pay $364.14 and his employer would pay the same. The worker would still clear an increase of over $100 per week in his paycheck.
    The government is saying our Social Security Trust Fund will run out in about forty years. I have estimated the extra money collected by all the people working for minimum wage and the extra earned by those earning less than $8.00 per hour over the next 40 years along with a very modest interest would equal trillions of dollars.

    Thanks for your support,
    G Edward Cook
     
  2. Mr. P
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    Mr. P Senior Member

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    You don't have my support, G Edward Cook.

    I can't support anyone that wants to FORCE an employer to pay X per hr.
    I can't support anyone that thinks the government should provide for me.
    I can't support anyone who thinks that it's okay for the government to take my money with the promise they will provide for me.
    I can'support anyone that thinks there really is a Social Security Trust Fund.

    In short, I can't and don't support MORONS! :)
     
  3. MtnBiker
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    MtnBiker Senior Member

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    8 dollars an hour is immoral lets raise the rate to $25 dollars an hour.
     
  4. G Edward Cook
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    G Edward Cook Rookie

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    I never said there was a Social Security trust fund. Bush gave it away to the rich with his tax cut, that was what the surplus was.
    Let's look back in America history before there was a minimum wage, social security and unemployment insurance, back to 1929. America looked like a third world country with millions of Americans hungry, homeless and jobless. Tent cities were all over America (this is one of the main things social security has prevented). I do not want America to return to those days, do you? If we allow corporations to do as they please, what's to stop the oil companies from doubling the price of oil so they can double their profits?
    Oh, I forgot, they just did that and the American public stopped them by not buying gas or oil, right? You stopped buying gas, didn't you?
     
  5. dmp
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    dmp Senior Member

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    Abolish Social Security or reduce the 'mandatory' contribution to about 1% of income; let "ME" decide how to invest "my" earnings.

    That'll fix social security. :)
     
  6. G Edward Cook
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    G Edward Cook Rookie

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    Eight dollars per hour is a minimum wage that a person working full time can survive on. $25 is union wages. $10,000 per hour is CEO wages!
     
  7. MtnBiker
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    MtnBiker Senior Member

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    Great, lets give every working man 25 dollars an hour.
     
  8. manu1959
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    manu1959 Left Coast Isolationist

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    a big mac would cost what then? $10
     
  9. Mr. P
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    Mr. P Senior Member

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    Okay Mr. TEAMSTER, tell me/us how social security or unemployment insurance would have prevented the stock market crash of 1929. You IDIOT.

    No, I didn't stop buying gas, did you? Did you stop buying anything really?


    Like yer profile. :laugh:
     
  10. dmp
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    dmp Senior Member

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    Why do businesses OWE it to their employees to make sure the employees have enough money? If A guy needs $8/hr to live, and only makes $5/hr it seems to me the guy needs to get a 2nd job.


    Unions are sooo in need of being abolished. Unions serve ONE purpose - to give Union Officials a job.
     
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