Tag: Social Security costs
It turns out that the Congressional Budget Office’s assumption about a big decline in the share of earnings subject to taxation is a major driver of the agency’s very high projection of Social Security’s 75-year deficit. Let me explain exactly what the taxable share is, explain why it’s important, and finally compare CBO’s assumption…
The baby boom is beginning to retire and Social Security costs are rising. Commentators often attribute the cost of Social Security to the retirement of the baby boom. Others go so far as to suggest that the baby boom is “a pig in a python,” a large cohort just passing through and once the last…
