Strengthening Social Security
photo credit PBS
One of the many reasons Donald Trump was elected was because he is a businessman, not a politician. And without a doubt, America has become a business.
Jobs, the economy, and the welfare of citizens are top priorities for President Trump. Social security and economic stabilization are irrevocably linked. And that is exactly why he will work hard to preserve and strengthen the system.
There are approximately 60 million people currently receiving some type of social security benefits. But there are also millions of people not receiving benefits that reap the rewards of a robust system. Over 9 million in fact.
That is the number of jobs created by social security benefit payments. Even higher is the $1.4 trillion dollars in economic output that is generated by these same payments. That breaks down to $2 in economic output for every $1 in benefits paid.
A strong social security system means…
A Strong Economy
Photo Credit: pbs.org
It isn’t just the federal economy that is strengthened through benefit payments either. Individual states, large and small, also enjoy the benefits of a strong system.
For example, California, who has the largest economy of all 50 states, added over 800,00 jobs and generated over $8 million dollars in state and local tax revenue. All supported by social security payments.
Maybe they should rethink their #CALEXIT plans?
In 2012, benefit payments supported almost $400 billion dollars in wages and other forms of employment compensation around the country. These facts serve as proof that building social security creates a stronger country.
President Trump has vowed to strengthen America by adding new jobs, creating better trade deals and improving the overall economy:
“If we are able to sustain growth rates in GDP that we had as a result of the Kennedy and Reagan tax reforms, we will be able to secure Social Security for the future. As our demography changes, a prudent administration would begin to examine what changes might be necessary for future generations. Our goal is to keep the promises made to Americans through our Social Security program.”
To read more about the 5 big changes happening in 2017 you can click here.
