Social Security A Story of Its Past and a Vision for Its Future

Name: Social Security A Story of Its Past and a Vision for Its Future
Availability: InStock
ISBN: 9780844772080

ISBN-10: 0844772089

ISBN-13: 9780844772080

Edition: 2011

Authors: Andrew G. Biggs

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Book details

Copyright year: 2011
Publisher: Rowman & Littlefield Publishers, Incorporated
Publication date: 11/16/2011
Binding: Paperback
Pages: 88
Size: 4.60" wide x 6.55" long x 0.23" tall
Weight: 0.176
Language: English



List of Illustrations


Introduction


Why Do We Have a Social Security Program?


Additional Criteria for Success



How Does Social Security Work?


The Benefit Formula


Financing


The Philosophy behind Social Security Financing


The Social Security Trust Fund


What Does it Mean to "Save the Surplus"?



Why Does Social Security Need Reform?


Conventional Wisdom: Demographics


Alternate View: Legacy Debt


The Costs of Complexity



How Should We Fix Social Security?


Separating Legacy Costs from Ongoing Costs


Universal Retirement Saving Accounts


Flat Benefit for Low Earners


Mandatory Annuitization


What a Reformed Social Security Program Might Look Like


Concluding Remarks


Endnotes


About The Author


List of Illustrations



Historical Employee and Employer Combined Social Security Payroll Tax Rate



Social Security Taxable Earnings as a Percentage of Total Covered Earnings