The distributional aspects of social security and social security reform

Social security is the largest and perhaps the most popular program run by the federal government. Given the projected increase in both individual life expectancy and sheer number of retirees, however, the current system faces an eventual overload. Alternative proposals have emerged, ranging from re...

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Bibliographic Details
Main Authors Feldstein, Martin, Liebman, Jeffrey B
Format eBook
LanguageEnglish
Published Chicago University of Chicago Press 2002
Edition1
Subjects
Congresses
Finance
Investments
Pension trusts
Privatization
Social security
United States
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Summary:Social security is the largest and perhaps the most popular program run by the federal government. Given the projected increase in both individual life expectancy and sheer number of retirees, however, the current system faces an eventual overload. Alternative proposals have emerged, ranging from reductions in future benefits to a rise in taxrevenue to various forms of investment-based personal retirement accounts. As this volume suggests, the distributional consequences of these proposals are substantially different and may disproportionately affect those groups who depend on social security to avoid poverty in old age. Together, these studies persuasively show that appropriately designed investment-based social security reforms can effectively reduce the long-term burden of an aging society on future taxpayers, increase the expected future income of retirees, and mitigate poverty rates among the elderly.
ISBN:9780226241067
9780226241890
0226241890
0226241068