A New Deal for Social Security
This book traces Social Security from its inception to its current crisis, showing that the program's problems are the result of a fundamental flaw in its design. Social Security taxes are not saved or invested in any way. Instead, taxes paid by today's workers are used to pay benefits to today's retirees. Workers have to hope that when they retire another generation of workers will pay the taxes to provide their benefits. Like any pyramid scheme, this system cannot be sustained in the face of changing demographics.
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accumulated Administration African Americans American amount Andrew Samwick annuity assets billion budget capital Cato Institute Cato Institute Social chapter Chile Chilean contributions costs Crisis in Social deficit disability benefits discussed earns the average economic growth effect employees federal finance the transition fully funded system government bonds Ibid individual invested system investors labor Laurence Kotlikoff low-income workers Martin Feldstein ment Milton Friedman Moreover old-age pension paid pay-as-you-go pay-as-you-go system payroll tax Peter Ferrara Policy private option private retirement private system privately invested privatization of Social Privatizing Social Security promised benefits rate of return receive reduced result retirement accounts retirement age retirement benefits returns and benefits Roosevelt Secu Security trust funds Shipman social insurance Social Security Administration Social Security benefits Social Security Reform Social Security system Social Security taxes Social Security trust Social Security's spouse surplus survivors tax increase taxable trillion wages Washington William Shipman
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China in the New Millennium: Market Reforms and Social Development
James A. Dorn
Limited preview - 1998