Jim Carr By Jim Carr, Statewide President, PEF Retirees

PEF Retirees CrestOctober 7, 2025 — We are currently living in an historically dangerous time for our Democracy, freedom of speech and our social safety system. Our public institutions are under attack from a Project 2025 agenda which is anti-American, anti-union, anti-affordable healthcare and pro-authoritarianism. 

As a senior citizen and union activist, I believe all Americans should support freedom of speech, public education, public servants, affordable and quality healthcare, and our basic rights as Americans guaranteed under the U.S. Constitution. 

We are witnessing attacks on the rule of law, free speech, the Constitution, the media – anyone considered an “enemy” by our current president is under threat of harassment and even unjustified indictments. This is not the America I love and believe in! I believe in transparency, accountability, responsibility and the rule of law. These are the most fundamental values often lacking in government. I believe in educating myself and these words late Supreme Court Justice Thurgood Marshall spoke when accepting the prestigious Liberty Medal from the National Constitution Center on July 4, 1992: 

“Democracy just cannot flourish amid fear. Liberty cannot bloom amid hate. Justice cannot take root amid rage. America must get to work. In the chill climate in which we live, we must go against the prevailing wind. We must dissent from the indifference. We must dissent from the apathy. We must dissent from the fear, the hatred and the mistrust. … We must dissent because America can do better, because America has no choice but to do better.” 

I choose to promote Justice Marshall’s views because I agree with him. My opinion is mine alone and you also have the right to choose your direction. If you are not like-minded, I believe in the Constitution and your right to choose a different path. I can only hope that your support of current events and leadership are well founded and will not negatively impact our democracy. There is a lot under attack, including Social Security, Medicaid, Medicare, the Affordable Care Act, institutions of higher learning, and your right to speak freely about our government. 

As retirees, we advocate for a “secure retirement for all.” Here are some examples from our friends at the Alliance for Retired Americans of how seniors impact our economy, from a recent edition of the Monday Alert. 

50+ Longevity Economy – National and New York 

  • 83% of U.S. household wealth is held by people over 50. 
  • Access to credit and assets allows the group to spend more on goods, services and investments than their younger counterparts. 
  • When summed together, approximately $1.8 trillion in federal, state and local taxes were attributable to the Longevity Economy in 2018 and it will quadruple by 2050. 
  • About 43% of federal tax revenue ($1.4 trillion) 
  • And 37% of state and local tax revenue collected in the U.S. ($650 billion) 

Spending by people aged 50 and over in the U.S. in 2018 supported: 

  • More than 88.6 million jobs (44% of total employment) 
  • Over $4.7 trillion in labor income 
  • 61% off all U.S. jobs and 43% of labor income was related to spending by the 50+ cohort 
  • Accounts for a majority of the spending in several categories of goods and services including: 
    • Healthcare 
    • Nondurable goods 
    • Durable goods, utilities 
    • Motor vehicles and parts 
    • Financial services 
    • Household goods 
  • Overall contribution – economic and unpaid activities – $9 trillion in 2018 
  • 50+ also accounts for the majority of: 
    • Volunteering 
    • Philanthropy 
    • Entrepreneurs 
    • Donation activities in the U.S. 
    • Large tourism block 

50+ Longevity – New York 

  • 36% of population in New York is 50+ 
  • Contribute 43%, or $719 billion to the GDP 
  • Support 5.9 million jobs 
  • Generated $482 billion in wages and salary 
  • Contribute $72 billion in state and local taxes (39% of total) 

Combating ageism and stereotypes – Social, economic and intellectual capital of older population 

New York’s total population is over 19 million and the state ranks fourth in the nation in the number of adults over 60 (4.84 million). 

  • 80% of New York State Retirement System payouts stay in New York – $10.6 billion annually; other pensions – $30.5 billion. 
  • Social Security – $59 billion annually paid to New York State older adults 
  • 900,000 individuals age 60+ contribute 442 million hours of service at an economic value of $13.2 billion. 
  • 64% of individuals age 60+ who own their own home have no mortgage. 
  • 4.1 million caregivers at any time in a year – economic value if paid for at market rate – is $39 billion, with the average age of 64. 

God Bless America, our union PEF, and retirees from all walks of life!