Download or read book Social security reform proposals could have a variety of effects on distribution of benefits and payroll taxes testimony before the Special Committee on Aging U S Senate written by and published by DIANE Publishing. This book was released on with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Social Security written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-20 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social Security: Reform Proposals Could Have a Variety of Effects on Distribution of Benefits and Payroll Taxes
Download or read book Gao 04 872t Social Security written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-28 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO-04-872T Social Security: Reform Proposals Could Have a Variety of Effects on Distribution of Benefits and Payroll Taxes
Download or read book Social Security written by David Michael Walker and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Social Security Reform Proposals Could Have a Variety of Effects on Distribution of Benefits and Payroll Taxes written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Distributional Aspects of Social Security and Social Security Reform written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-11-01 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social security is the largest and perhaps the most popular program run by the federal government. Given the projected increase in both individual life expectancy and sheer number of retirees, however, the current system faces an eventual overload. Alternative proposals have emerged, ranging from reductions in future benefits to a rise in taxrevenue to various forms of investment-based personal retirement accounts. As this volume suggests, the distributional consequences of these proposals are substantially different and may disproportionately affect those groups who depend on social security to avoid poverty in old age. Together, these studies persuasively show that appropriately designed investment-based social security reforms can effectively reduce the long-term burden of an aging society on future taxpayers, increase the expected future income of retirees, and mitigate poverty rates among the elderly.
Download or read book Social security reform potential effects on SSA s disability programs and beneficiaries report to the ranking member Subcommittee on Labor Health and Human Services Education and Related Agencies Committee on Appropriations U S Senate written by and published by DIANE Publishing. This book was released on with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strengthening Social Security written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 2004 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Long Run Effects of Social Security Reform Prosposals on Lifetime Progressivity written by Julia Lynn Coronado and published by . This book was released on 2000 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Social Security Reform written by Peter A. Diamond and published by . This book was released on 1998 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic analysis centers on three questions whether to have a mixed defined contribution (DC)/defined benefit (DB) plan and how to invest the funding. The paper compares a DB funded plan with a funded DC plan without any individual choice. The paper then considers individu choice about benefits, with particular attention to widows. Portfolio choice is considered for a central fund and in individual accounts, particularly the costs of implementation, as are the implications of greater funding. The implications for the labor market are examined. The major economic issues are not controversial. More funding involves higher taxes (or lower benefits) in the near-term in order to have lower taxes (or higher benefits) in the long run. More funding can reduce the frequency of needed adjustments to Social Security and can increase national savings. These economic effects are similar with or without individual accounts, although the politics will differ. The financial advantage of a diversified portfolio applies to a central fund, whether for a DC or a DB. Indeed, a DB that adjusts well handles risk better than a DC. Economically, the case for diversification is clear, but political questions arise about investing well and avoiding improper interference in corporate governance. Individual accounts respond to political concerns and allow diversity in individual portfolios but add to administrative costs and raise questions about the quality of individual investment decisions. They also raise the political question of maintaining redistribution. It is unclear whether individual accounts would make the labor market more or less efficient. My bottom line is that a well-run DB system is economically more efficient than a mixed DC/DB system. The real issue then becomes how well the US government could run either system.
Download or read book Privatizing Social Security written by Martin Feldstein and published by University of Chicago Press. This book was released on 2008-04-15 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest
Download or read book Social Security Reform written by Ben "Ally" Templin and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Article examines the principal reform proposals that would increase tax revenue for the Social Security trust fund -- weighing the pros and cons of each. The Article also considers the prospects for political agreement on a reform proposal given the past efforts and the looming crisis.Part I of the Article recounts the latest data as of 2013 on insolvency projections and discusses the methods by which the Office of the Chief Actuary measures the effect of proposed reforms. Part II provides an overview of the payroll tax and benefit calculations. The factors used in calculating both tax and benefits are key components used in many reform proposals.The Article focuses on two types of tax reform proposals: (1) proposals that increase the tax rate, which are the subject of Part III; and (2) proposals that increase the maximum taxable income rate, which are discussed in Part IV. Part V examines the political realities of reform proposals and suggests ways in which political bargaining can be structured to maximize the chances of a proposal being adopted.
Download or read book Fiscally Morally Responsible Social Security Oasi Payroll Tax Reform written by Brett Bergen and published by . This book was released on 2013 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This proposal offers specific improvement options for the Social Security Trust to maintain long-term solvency without increasing taxes. The primary solution offered is to allow taxpayers the option to manage their portion of Payroll Taxes through the already existing Federal Thrift Savings Plan system (or similar system) so that they may choose to construct a risk/return portfolio that offers greater benefits by the time of retirement. Portfolio decisions can be informed by the advice and tools that the TSP already has to offer federal employees, and can be augmented by any additional advice from private, certified sources that individuals choose. The proposed reform may allow for the permanent reduction in U.S. Payroll Taxes and make the Social Security Trust solvent without a change to benefits or the eligible retirement age. Other possibilities are also explored.The expansion of the TSP to the public may also prove an excellent medium through which to provide free, certified financial education to every citizen.The proposal is meant to be considered by decision-makers as part of the Budget Control Act 2012 deliberations, prior to a budget decision on March 1 2013, if possible.The SSA program improvements offer decision-makers additional tradespace in balancing the budget this year and every year thereafter, may increase take-home pay for working Americans, may reduce taxes paid by corporations and business owners, boost markets and hiring in the near-term, and put the U.S. economy on a firm footing for the long-run, while providing solvency of the Social Security Trust without a decrease in benefits or an increase in taxes. A secondary solution explores equalizing the incentive for all income classes to have children, which would require reducing the financial burden for middle or higher income families to have children. This would broaden the taxable population base beyond immigration-related solutions.
Download or read book Tax Reform and the Impact on Employee Benefits written by and published by . This book was released on 1997 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Saving Social Security written by Peter A. Diamond and published by . This book was released on 2004 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diamond (Massachusetts Institute of Technology) and Orszag (Brookings Institution) present a proposal for reforming Social Security that balances benefit reductions with revenue enhancements. Following the precedent set by the last major reform in the early 1980s, the plan seeks to restore long-term
Download or read book The Effects of Social Security Reform on Saving Investment and the Level and Distribution of Worker Well Being written by Barry Bosworth and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: All observers agree that Social Security reform is needed to restore the program's solvency. This paper examines the impact of alternative reforms on Social Security finances, on the wider U.S. economy, and on workers who contribute to and receive benefits from the program. In one reform we consider, Social Security benefits are eventually reduced about one-third so that benefits can be financed with the present 12.4 percent payroll tax rate. Workers are required to contribute an additional 2 percent of their wages to a new defined-contribution pension. We embed Social Security's finances in a neoclassical growth model and show how additions to Social Security and defined-contribution pension reserves, if they are saved, can increase the future growth of productivity and wages and reduce the rate of return on capital. These economy-wide impacts in turn affect the lifetime wages and pensions of workers born in successive generations. They have differing effects on workers depending on workers' relative earnings and the trend in their earnings over their careers. Our model includes a microsimulation component to measure these effects on individual workers.
Download or read book On the Distributional Effects of Social Security Reform written by Mark Huggett and published by London : Department of Economics, University of Western Ontario. This book was released on 1998 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
