Article2011

SOCIAL SECURITY RECONSIDERED

17 citations0/0 files storedNational Tax Journal

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Retirement, Disability, and Employment Social Policy and Reform Studies Financial Literacy, Pension, Retirement Analysis

Abstract

Social Security is currently much in the news because it faces a projected funding gap, because of overall budget deficits, and because of doubts in some quarters about its design. Minor adjustments are sufficient to close the funding gap. Benefit cuts, even if considered desirable, would not help close the overall budget gap in a timely way. Some adjustments in Social Security benefits and financing are desirable, but large scale changes would be disruptive and would not well serve the program's basic purposes — to provide assured, basic income to retirees, the disabled, and survivors — unless they more or less replicated the current program.

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References

1958An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money 1966The Social Insurance Paradox 1995Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks.1998Privatizing Social Security 1996The Transition Path in Privatizing Social Security 1977The Economics of Public Services 2005Saving Social Security 2002Taxation, Incomplete Markets, and Social Security

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2013Social Policy: What Have We Learned?

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