Tag: older workers
The brief’s key findings are: As life expectancy rises, more retirees face the higher poverty risk associated with very old ages due to declining resources, cumulative inflation, and widowhood. In response, some propose boosting Social Security for the oldest old by either: adopting an annual cost-of-living-adjustment (COLA) for all retirees that more closely matches t…
Abstract Over the past few decades, U.S. income inequality has grown, with high earners experiencing disproportionate growth. This pattern has increased the top earners’ share of national income and reduced the share of earnings taxable by Social Security from 87.1 percent to 82.7 percent since 1994, weakening the program’s fiscal situation. Yet the drivers of…
