Tag: Social Security finances
The original Social Security 2100 Act,released in 2019 by Congressman John Larson (D-CT), then Chair of the House Ways and Means Subcommittee on Social Security, was terrific. The legislation retained, and even slightly enhanced, benefits and substantially increased revenues to cover the program’s 75-year deficit. On the benefit side, the 2019 legislation offered four enhancements:…
The rising cost of employer contributions to employee-sponsored health insurance (ESHI) can slow wage growth and erode the Social Security wage base. Both these effects were evident in the decades before 2005, as ESHI increased as a share of compensation. Fortunately, the ratio of ESHI contributions to compensation plateaued after 2005, stabilizing wages and halting…
