Tag: lifetime Social Security benefits
Benefit/contribution ratios provide no guidance on how to fix Social Security. Two of my friends – Andrew Biggs (“No, Social Security Isn’t Earned”) and Gene Steuerle (“Lifetime Social Security Benefits and Taxes”) are making my brain ache. They are both arguing that people will get lifetime Social Security benefits far in excess of lifetime contributions,…
This paper compares Social Security outcomes for non-Hispanic Black, Hispanic, and non-Hispanic white beneficiaries and assesses the capacity of various benefit enhancements to narrow racial and ethnic disparities in Social Security benefits. Using the Dynamic Simulation of Income Model 4 (DYNASIM4), we project, under current law and each benefit enhancement, lifetime Social Security benefits…
