The Distributional Aspects of Social Security and Social Security ReformMartin Feldstein, Jeffrey B. Liebman 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. |
Contents
| 1 | |
| 11 | |
SSI and the WellBeing of the Elderly Poor | 49 |
3 The Impact of Social Security and Other Factors on the Distribution of Wealth | 85 |
4 Social Security and Inequality over the Life Cycle | 115 |
5 LongRun Effects of Social Security Reform Proposals on Lifetime Progressivity | 149 |
How Bad Can It Get? | 207 |
7 The Distributional Effects of an InvestmentBased Social Security System | 263 |
8 Distributional Effects in a General Equilibrium Analysis of Social Security | 327 |
9 The Economics of Bequests in Pensions and Social Security | 371 |
10 Differential Mortality and the Value of Individual Account Retirement Annuities | 401 |
Estimating Life Tables That Reflect Socioeconomic Dierences in Mortality | 447 |
Contributors | 459 |
Author Index | 461 |
| 465 | |
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The Distributional Aspects of Social Security and Social Security Reform Martin Feldstein,Jeffrey B. Liebman No preview available - 2002 |
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actuarial age sixty-five analysis annual asset test assume average bend points beneficiaries benefit cut calculations column consumption couple covered earnings current system demographic disabled discount rate distribution dollar earners effect eligible Eliminate earnings ceiling estimates expected females finance fund Gini coefficient Gokhale groups higher Hispanics households Income Quintile indexing individual accounts inequality internal rate investment-based Kotlikoff labor Liebman lifetime earnings lifetime income lifetime net tax males married married couples Martin Feldstein microsimulation Mixed Plan mortality rates net present value OASDI OASI option participation PAYGO system payroll tax percent period-certain population potential poverty line present value quintile rate of return ratio receive redistribution reduce regressive sample Samwick saving rate simulation Social Security Administration Social Security benefits Social Security reform Social Security system Social Security taxes spouse survivor tax rate tion transfers wage wealth tax women workers
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Page ix - RELATION OF NATIONAL BUREAU DIRECTORS TO PUBLICATIONS REPORTING CONFERENCE PROCEEDINGS Since the present volume is a record of conference proceedings, it has been exempted from the rules governing submission of manuscripts to, and critical review by, the Board of Directors of the National Bureau.