Tag: Social Security
Abstract Using data from the Current Population Surveys, we find an increase in the fraction of older American men who worked without receiving Social Security retirement benefits and a decline in the fraction of men who claimed benefits without working during the period 1980-2006. Using bivariate probit regressions, we find that an increase in Socia…
The brief’s key findings are: The Social Security payroll tax supports: 1) the cost of current benefits; and 2) the “legacy cost” of paying benefits in excess of contributions to early generations. Covering current costs through the payroll tax gives workers’ a sense that they have earned their benefits and provides a stable revenue sourc…
