Work for higher pay in May. Social Security is funded by a payroll tax, which means it is dependent on what workers earn. Lower earnings in the last few decades systematically rob Social Security and Medicare of funding.
How do workers increase pay in the face of global competition and intentional destruction of unions? We can only do that by taking collective action that goes beyond strikes and protests. So, I’m designating the first day of May each year as “New Job Day”. On that day, I’d like workers everywhere to dedicate themselves to spending the month of May looking for a job with better compensation.
By taking action together, we can force wages up. Every additional dollar earned means about 10 cents more going into Social Security. This is the way to permanently fix funding for Social Security and make it solvent for the next one hundred years.
I was moved to action by President Obama’s call for cuts to Social Security benefits and the pathetic response of members of Congress. For example, I got this in an e-mail message from Senator Patty Murray:
I am committed to addressing our nation's debt and know that any deal will involve sacrifices from all sides.If my part of this is sacrificing Social Security then your part of this, Patty Murray, is sacrificing your seat in the Senate. I think that’s a fair deal. Are you ready to make a shared sacrifice?
Sacrifices are done by primitive societies to appease the gods. I was rather hoping I had entered the modern world. That would be a world with a modern society where the scientific study of the economy had resulted in sensible public policy.
Why are our politicians doing a rain dance to get more money for Social Security? Science tells us that it is purely related to worker earnings.
So, I’m going to use the power of the social Internet to get those earnings up (and incidentally save Social Security from its rescuers). A declared time for workers to collectively go looking for higher wages, salaries, and benefits puts pressure on the economy to increase pay.
My target is to restore worker earnings to 60% of business income. It is estimated this would increase earnings by about $1.5 trillion a year, meaning an additional $150 billion each year for the Social Security fund. I’m calling on you to do your part on May 1: Dedicate yourself to looking for better pay in May. Review your compensation package. What are you actually getting for your current job? Which companies are available for you to apply to?
Then, list yourself or update your listing on the public websites. Call up some companies to find out what jobs they have. See if you can schedule an interview, even if it’s just an “informational interview” to find out what those companies have.
Use the month of May to find out where you stand and whether you can do better.
May 1 is International Labor Day. I think it is a very appropriate time to think about compensation and whether we can do better. I will post a diary each Friday in May for people to report progress.
Tired of hearing how politicians are taking away your benefits? Now you can do something. Take part!