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Future of Social Security - (Studies in Social Economics) by Alicia H Munnell (Paperback)

Future of Social Security - (Studies in Social Economics) by  Alicia H Munnell (Paperback) - 1 of 1
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Highlights

  • "From a modest beginning in 1935 to an income replacement scheme for workers in commerce and industry, the social security system has grown to cover 90 percent of working Americans.
  • About the Author: Alicia H. Munnell is the Peter F. Drucker Professor of Management Sciences at Boston College's Carroll School of Management and director of the Center for Retirement Research at Boston College.
  • 206 Pages
  • Political Science, Public Policy
  • Series Name: Studies in Social Economics

Description



About the Book



"

From a modest beginning in 1935 to an income replacement scheme for workers in commerce and industry, the social security system has grown to cover 90 percent of working Americans. It now pays $78 billion a year in benefits and is obligated to pay $4 trillion in fut...



Book Synopsis



"

From a modest beginning in 1935 to an income replacement scheme for workers in commerce and industry, the social security system has grown to cover 90 percent of working Americans. It now pays $78 billion a year in benefits and is obligated to pay $4 trillion in future retirement benefits to workers now covered. With a projected tax rate of 30 percent of gross wages by the year 2050 to meet its obligations under current law, the system, in the author's words, is at ""the most crucial juncture of its forty-year life.""

This comprehensive review and analysis, the thirteenth in the Brookings series of Studies in Social Economics, discusses social security in relation to other sources of retirement income and clarifies its financing problem, benefit structure, and ambivalent goals. It deals with two main financing questions. First, will the payroll tax yield the revenue needed to pay benefits as the retired population rises as a fraction of the working population? Second, is the regressive social security tax really the best source of revenue for a system with welfare components such as the minimum benefit and dependents' benefits? Though such benefits are viewed as progressive, they are not paid according to need. They meet neither the income redistribution requirements nor the individual equity goals of the social security program. The author provides a comprehensive account of the benefit structure and clarifies its relation not only to the basic goals of social security but also to the country's three-tiered system of income security. She offers recommendations for eliminating ""an irrational and correctable feature of the benefit formula,"" for lowering the dependency ratio, and, most important, for a definition of goals.

"



About the Author



Alicia H. Munnell is the Peter F. Drucker Professor of Management Sciences at Boston College's Carroll School of Management and director of the Center for Retirement Research at Boston College. A former member of the president's Council of Economic Advisers, she has written or edited numerous books, including Coming Up Short: The Challenge of 401(k) Plans, with Annika Sundén (Brookings, 2004).
Dimensions (Overall): 9.0 Inches (H) x 6.0 Inches (W) x .47 Inches (D)
Weight: .68 Pounds
Suggested Age: 22 Years and Up
Number of Pages: 206
Genre: Political Science
Sub-Genre: Public Policy
Series Title: Studies in Social Economics
Publisher: Brookings Institution Press
Theme: Social Security
Format: Paperback
Author: Alicia H Munnell
Language: English
Street Date: April 1, 1977
TCIN: 1005135603
UPC: 9780815758952
Item Number (DPCI): 247-24-5031
Origin: Made in the USA or Imported
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Shipping details

Estimated ship dimensions: 0.47 inches length x 6 inches width x 9 inches height
Estimated ship weight: 0.68 pounds
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