U.S. Labor Department allows unemployment benefits for coronavirus
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Re: U.S. Labor Department allows unemployment benefits for coronavirus
#2You know what else would help? Since the risk curve bends sharply upward at age 60, immediately allow anyone to start drawing full social security payments at age 60, without any sort of penalty. Those companies that value their older workers would now be in the position of making work-from-home a full-fledged option, because the bargaining power would shift to where it belongs - the worker.
Re: U.S. Labor Department allows unemployment benefits for coronavirus
#3You know what else would help? Since the risk curve bends sharply upward at age 60, immediately allow anyone to start drawing full social security payments at age 60, without any sort of penalty. Those companies that value their older workers would now be in the position of making work-from-home a full-fledged option, because the bargaining power would shift to where it belongs - the worker.
That would both put a massive strain on the Social Security trust and not pressure employers at all, since they'd likely be happy to have the most expensive employees retire early.
Re: U.S. Labor Department allows unemployment benefits for coronavirus
#4You know what else would help? Since the risk curve bends sharply upward at age 60, immediately allow anyone to start drawing full social security payments at age 60, without any sort of penalty. Those companies that value their older workers would now be in the position of making work-from-home a full-fledged option, because the bargaining power would shift to where it belongs - the worker.
That would both put a massive strain on the Social Security trust and not pressure employers at all, since they'd likely be happy to have the most expensive employees retire early.
If we can afford a $1.5 trillion injection into the markets, then we can afford moving the SS retirement age to 60 where the most vulnerable exist.
Re: U.S. Labor Department allows unemployment benefits for coronavirus
#5You know what else would help? Since the risk curve bends sharply upward at age 60, immediately allow anyone to start drawing full social security payments at age 60, without any sort of penalty. Those companies that value their older workers would now be in the position of making work-from-home a full-fledged option, because the bargaining power would shift to where it belongs - the worker.
Social security is based on what you paid in, so the earlier you start withdrawing the lower your monthly check is. You couldn’t allow people to receive the full amount starting at 60 without bankrupting the program.
Re: U.S. Labor Department allows unemployment benefits for coronavirus
#6Earlier quoted context omitted.
That would both put a massive strain on the Social Security trust and not pressure employers at all, since they'd likely be happy to have the most expensive employees retire early.
If we can afford a $1.5 trillion injection into the markets, then we can afford moving the SS retirement age to 60 where the most vulnerable exist.
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Re: U.S. Labor Department allows unemployment benefits for coronavirus
#7Earlier quoted context omitted.
That would both put a massive strain on the Social Security trust and not pressure employers at all, since they'd likely be happy to have the most expensive employees retire early.
If we can afford a $1.5 trillion injection into the markets, then we can afford moving the SS retirement age to 60 where the most vulnerable exist.
The $1.5 trillion injection doesn't actually cost any money. The Fed is making short-term fully-collateralized loans.
Re: U.S. Labor Department allows unemployment benefits for coronavirus
#8You know what else would help? Since the risk curve bends sharply upward at age 60, immediately allow anyone to start drawing full social security payments at age 60, without any sort of penalty. Those companies that value their older workers would now be in the position of making work-from-home a full-fledged option, because the bargaining power would shift to where it belongs - the worker.
Social security is based on what you paid in, so the earlier you start withdrawing the lower your monthly check is. You couldn’t allow people to receive the full amount starting at 60 without bankrupting the program.
Ahem. Social security is not self-funded, it's funded by current payroll tax receipts, plus a 2.6 trillion trust fund, plus about 5 trillion in debt owed to it by the rest of the government.
Re: U.S. Labor Department allows unemployment benefits for coronavirus
#9You know what else would help? Since the risk curve bends sharply upward at age 60, immediately allow anyone to start drawing full social security payments at age 60, without any sort of penalty. Those companies that value their older workers would now be in the position of making work-from-home a full-fledged option, because the bargaining power would shift to where it belongs - the worker.
Social security is based on what you paid in, so the earlier you start withdrawing the lower your monthly check is. You couldn’t allow people to receive the full amount starting at 60 without bankrupting the program.
You say that as if liquidity management in a crisis wasn't a thing. Why, exactly, should free temporary cash be available to investment banks but not entitlement programs?
Re: U.S. Labor Department allows unemployment benefits for coronavirus
#10Earlier quoted context omitted.
That would both put a massive strain on the Social Security trust and not pressure employers at all, since they'd likely be happy to have the most expensive employees retire early.
If we can afford a $1.5 trillion injection into the markets, then we can afford moving the SS retirement age to 60 where the most vulnerable exist.
The $1.5 trillion thing is a bit confusing. That came from the Federal Reserve, not the US Treasury so didn't it just essentially chip away a little bit at the value of all dollars in existence instead of adding to the national debt? The Fed just created that money out of thin air (or zooming electrons) as far as I can tell. A small inflationary tax on everyone holding dollars?