Tag: taxable ratio
![Hand holding paper with lots of financial charts and graphs](https://crr.bc.edu/wp-content/uploads/2016/08/Hand-holding-paper-with-lots-of-financial-charts-and-graphs-1536x1024.jpeg)
CBO’s “taxable ratio” assumption is a big contributor to high long-run deficit. It turns out that the Congressional Budget Office’s assumption about a big decline in the share of earnings subject to taxation is a major driver of the agency’s very high projection of Social Security’s 75-year deficit. Let me explain exactly what t…