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Author | : Martin Feldstein |
Publisher | : University of Chicago Press |
Total Pages | : 479 |
Release | : 2007-11-01 |
Genre | : Political Science |
ISBN | : 0226241890 |
Download The Distributional Aspects of Social Security and Social Security Reform Book in PDF, ePub and Kindle
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.
Author | : Mark Huggett |
Publisher | : London : Department of Economics, University of Western Ontario |
Total Pages | : 56 |
Release | : 1998 |
Genre | : Social security |
ISBN | : |
Download On the Distributional Effects of Social Security Reform Book in PDF, ePub and Kindle
Author | : Olivia S. Mitchell |
Publisher | : University of Pennsylvania Press |
Total Pages | : 446 |
Release | : 1999-01-29 |
Genre | : Business & Economics |
ISBN | : 9780812234794 |
Download Prospects for Social Security Reform Book in PDF, ePub and Kindle
The United States social security system is the nation's largest social insurance program. As such, it has a far-reaching impact throughout the economy, influencing not only old-age economic security but also many behaviors, including corporate employment policy, retirement patterns, and personal saving. In the past, the system's universal coverage and generous benefits ensured popular support to a degree enjoyed by no other form of "big government" social spending. Yet over two-thirds of all Americans today believe that the social security system will face bankruptcy by the time they retire. The question of social security reform—how to reform the system or whether the system needs reform at all—is the subject of heated debate at all levels of government, in the media, and among workers, pensioners, and employers. Prospects for Social Security Reform informs the debate by exploring why the system is at a crossroads today and what to do about it. Contributors detail the size and nature of the problem, explain views of key "stakeholders" regarding reform options, and report new evidence on how reform might affect the economy. Research findings and public opinion polls are analyzed, as are lessons from other countries experimenting with new ways to deliver old-age benefit promises. No other volume includes as diverse and expert a set of perspectives on reform and privatization as those gathered here from economists, actuaries, employers, investment managers, and representatives of organized labor. Among its chapters is the path-breaking study "Social Security Money's Worth," the 1999 winner of the TIAA-CREF's Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security.
Author | : Daniel Shaviro |
Publisher | : University of Chicago Press |
Total Pages | : 190 |
Release | : 2000 |
Genre | : Business & Economics |
ISBN | : 0226751171 |
Download Making Sense of Social Security Reform Book in PDF, ePub and Kindle
The Social Security Act of 1935 must be counted among the most monumental pieces of legislation ever passed by Congress. Today, sixty-five years after its enactment, public support for Social Security remains extremely strong. At the same time, there have been reports that Social Security is in grave danger of financial collapse, and numerous groups across the political spectrum have agitated for its reform. The president has put forward proposals to rescue Social Security, conservatives argue for its privatization, and liberals advocate increases in its funding from surplus tax revenues. But what is the average person to make of all this? How many Americans know where the money for Social Security benefits really comes from, or who wins and loses from the system's overall operations? Few people understand the current Social Security system in even its broadest outlines. And yet Social Security reform is ranked among the most important social issues of our time. With Making Sense of Social Security Reform, Daniel Shaviro makes an important contribution to the public understanding of the issues involved in reforming Social Security. His book clearly and straightforwardly describes the current system and the pressures that have been brought to bear upon it, before dissecting and evaluating the various reform proposals. Accessible to anyone who has an interest in the issue, Shaviro's new work is unique in offering a balanced, nonpartisan account.
Author | : |
Publisher | : |
Total Pages | : 76 |
Release | : 2004 |
Genre | : Income distribution |
ISBN | : |
Download Social Security Book in PDF, ePub and Kindle
Author | : |
Publisher | : DIANE Publishing |
Total Pages | : 34 |
Release | : |
Genre | : |
ISBN | : 1428938117 |
Download 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 Book in PDF, ePub and Kindle
Author | : United States. Congress. Senate. Special Committee on Aging |
Publisher | : |
Total Pages | : 120 |
Release | : 2004 |
Genre | : Business & Economics |
ISBN | : |
Download Strengthening Social Security Book in PDF, ePub and Kindle
Author | : Estelle James |
Publisher | : University of Chicago Press |
Total Pages | : 294 |
Release | : 2008-09-15 |
Genre | : Business & Economics |
ISBN | : 0226392023 |
Download The Gender Impact of Social Security Reform Book in PDF, ePub and Kindle
As populations age and revenues diminish, government and private pension funds around the world are facing insolvency. The looming social security crisis is especially dire for women, who live longer than men but have worked less in the formal labor force. This groundbreaking study examines alternative social security systems and their disparate impacts on men and women. Emphasis is placed on the new multi-pillar systems that combine a publicly managed benefit and a mandatory private retirement saving plan. The Gender Impact of Social Security Reform compares the gendered outcomes of social security systems in Chile, Argentina, and Mexico, and presents empirical findings from Eastern and Central European transition economies as well as several OECD countries. Women’s positions have improved relative to men in countries where joint pensions have been required, widows who have worked can keep the joint pension in addition to their own benefit, the public benefit has been targeted toward low earners, and women’s retirement age has been raised to equality with that of men. The Gender Impact of Social Security Reform will force economists and policy makers to reexamine the design features that enable social security systems to achieve desirable gender outcomes.
Author | : Martin S. Feldstein |
Publisher | : |
Total Pages | : 122 |
Release | : 2001 |
Genre | : Social security |
ISBN | : |
Download Social Security Book in PDF, ePub and Kindle
This paper, a forthcoming chapter in the Handbook of Public Economics, reviews the theoretical and empirical issues dealing with Social Security pensions. The first part of the paper discusses pure pay-as-you-go plans. It considers the effects of introducing such a plan on the present value of consumption, the optimal level of benefits in such plans, and the emprical research on the effects of pay-as-you-go pension systems on labor supply and saving. The second part of the paper discusses the transition to investment-based systems, analyzing the effect on the present value of consumption of such a transition and considering such issues as the distributional effects and risk associated with such systems.
Author | : Michael D. Hurd |
Publisher | : |
Total Pages | : 58 |
Release | : 1983 |
Genre | : Age groups |
ISBN | : |
Download The Distributional Impact of Social Security Book in PDF, ePub and Kindle
In the first part of the paper we report estimated transfers in the Social Security system for the Retirement History Survey sample.We define transfers to be the difference between the expected presentvalue of benefits less the present value of taxes paid in, where the latter is adjusted for the probability of living to reach retirement age.Unlike previous researchers we, therefore, account for the taxes paid by people who died before retirement, and it turns out this adjustment is important for some groups. The Retirement History Survey cohort will receive large transfers: roughly benefits will be about four times taxes,and the real internal rate of return will be about eight percent. We study how transfers vary by a comprehensive measure of wealth. People in the highest wealth quartile have the largest absolute transfers, and their internal rate of return is as high as that of any wealth quartile.In the second part of the paper we study transfers forsix synthetic cohorts, the heads of which are age 65 in the ten-year intervals 1970 through 2020. Within each cohort 12 families are defined according to earnings levels.We find that transfers are positive and large for the 1970 cohort, and that they decline steadily until they are negative for most groups in the 2020 cohort. Although high earners initially have the largest transfers in the 1970 cohort, they have the largest negative transfers in the 2020 cohort.