Tag: Social Security reform
The brief’s key findings are: Social Security’s minimum benefit for retirees with very low career earnings does not prevent poverty and is withering away due to a design flaw. A broad consensus exists for enhancing this benefit to at least keep full-time, full-career workers out of poverty. Reform proposals, though, do differ over the extent…
Abstract Social Security’s Trust Fund is projected to run out in 2034. As policymakers consider restoring financial balance to the program, one topic that may be discussed is how to structure any tax increases. Understanding why Social Security requires a higher payroll tax than a funded retirement program for a given level of benefits is…
