Tag: Social Security reform
And raises enough new revenue to more than restore long-run balance. The Social Security actuaries project a program deficit over the next 75 years of 2.84 percent of taxable payrolls. As shown in Figure 1, this deficit reflects the combination of rising costs and constant levels of income. The increasing costs are the result of…
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…
