Tag: benefit cuts
Increasing the Full Retirement Age is not a third option; it’s an across-the-board benefit cut. In this campaign season, fixing Social Security is once again emerging as a major topic. As Figure 1 shows, the cost of the program as a percentage of payrolls is higher than revenues. In the short term, the gap can…
Teachers receive less than college educated workers in the private sector and many lack Social Security coverage. Teacher protests in Arizona, Kentucky, Oklahoma, and West Virginia made me look back to a 2011 study on the relative compensation of public and private sector employees. Our conclusion at the time was that, on average, workers in…
