Tag: Social Security finances
Abstract This study calculates the impact of federal income taxes on the progressivity of the Old Age and Survivors Insurance (OASI) program. It uses the Health and Retirement Study (HRS) data linked with the Social Security Earnings Records to estimate OASI contributions and benefits for individuals and households, before and after income taxes, for thr…
Each year the Trustees of the Social Security system report on its financial health over the next 75 years. The 2011 Report shows that, despite reduced revenues and increased benefit claims in the short run, the system continues to face a 75-year deficit equal to about 2 percent of taxable payroll (see Figure). T…
