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Thursday, July 23, 2020 | History

2 edition of A summary of saving Social Security found in the catalog.

A summary of saving Social Security

a balanced approach

by Peter A. Diamond

  • 240 Want to read
  • 19 Currently reading

Published by Massachusetts Institute of Technology, Dept. of Economics in Cambridge, MA .
Written in English


About the Edition

This paper reviews the financial position of Social Security, presents a plan for saving it, and discusses why Social Security revenue should not be diverted into individual accounts. Our approach preserves the value of Social Security in providing a basic level of benefits for workers and their families that cannot be decimated by stock market crashes or inflation, and that lasts for the life of the beneficiary; it increases benefits for some particularly needy groups such as those who have worked at low pay over long careers and widows and widowers with low benefits; it eliminates the long-term deficit in Social Security without resorting to accounting gimmicks, thereby putting the program and the federal budget on a sounder financial footing. Our plan combines revenue increases and benefit reductions - the same approach taken for reaching a consensus in the last major Social Security reform in 1983. Keywords: Social Security, actuarial balance, individual accounts. JEL Classifications: H550.

Edition Notes

Statement[by] Peter A. Diamond [and] Peter R. Orszag
SeriesWorking paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 04-21, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 04-21.
ContributionsOrszag, Peter R., Massachusetts Institute of Technology. Dept. of Economics
The Physical Object
Pagination53 p. :
Number of Pages53
ID Numbers
Open LibraryOL24640607M
OCLC/WorldCa55232385

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A summary of saving Social Security by Peter A. Diamond Download PDF EPUB FB2

A Summary of Saving Social Security: A Balanced Approach. but it is not necessary to destroy the program in order to save it.

Social Security’s projected financial difficulties are real and. Social Security Social Security is coming under increasing pressure to lower costs as costs are projected to rise over the next three quarter of the century by another.

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Additional Physical Format: Online version: Saving social security. New York: H.W. Wilson Co., (OCoLC) Document Type: Book: All Authors / Contributors. Abstract. This paper reviews the financial position of Social Security, presents a plan for saving it, and discusses why Social Security revenue should not be diverted into individual by: Since the publication of the first edition of this book inthe Social Security debate has moved to the center of the domestic policy agenda.

In this updated edition of Saving Social Security, the authors analyze the Bush Administration's proposal for individual accounts and discuss the so-called "price indexing" proposal to restore long.

Summary Guide to Employment Supports for Persons With Disabilities under the Social Security Disability Insurance and Supplemental Security Income Programs TABLE OF CONTENTS.

INTRODUCTION. WHAT’S NEW IN. Automatic Adjustments Effective January 1, ; CONTACTING US. How to Reach Social Security; my Social Security. If you claim Social Security more than 36 months prior to reaching your full retirement age, your benefit will be reduced by 20% plus an additional 5% for every year (about % per month) beyond.

The final part of the book, Part 4, has some other miscellaneous topics such as how to check your earnings records (4 page chapter 14), how Social Security is taxed (4 page chapter 15), how Social Security should affect your asset allocation (3 page chapter 16), and a few “do-over options” (4 page chapter 18) like withdrawing an application.

-- Tax relief for Social Security beneficiaries due to an increase in the threshold for taxation of Social Security benefits to $50, for individuals and $, for joint filers, up from. The current social security reforms are not expected to be sufficient to meet the needs of middle-class Americans.

Key Takeaways from this Best Retirement Planning Book This best retirement planning book dissects the confusion and misinterpretations and poor policy-making which makes most of the Americans spend excessively or save poorly.

"In their new book, Saving Social Security: A Balanced Approach (Brookings Institution Press), for example, Peter A. Diamond of M.I.T. and Peter R. Orszag of the Brookings Institution outline a plan to preserve the best elements of sensible reforms, like indexing benefits to rising life expectancy and collecting some payroll taxes above the Price: $ Saving Social security: a balanced approach.

[Peter A Diamond; Peter R Orszag] Summary: While everyone agrees that Social Security is a vital and necessary government program, there have been widely divergent plans for reforming it.

"This book should be read by all of those interested in the future of Social Security. Increasing Social Security’s full retirement age slightly and on a known schedule to reflect Americans’ longer life spans is a fair and commonsense approach to improving the program’s finances.

When Social Security started inyear-old men expected to spend about 13 years in retirement, compared with about 18 years today. Social. Security Online, located at. “Plain Language” We tried to keep the Red Book clear and brief.

We followed “Plain Language” guidelines. We generally use “we,” “us,” and “our” to refer collectively to Social Security, the Social Security.

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A summary of saving Social Security: a balanced approach Item Preview remove-circle Share or Embed This Item. Social Security costs, meanwhile, are poised to increase by about $ billion, from $1 trillion in to $ trillion in "Right now, there's this refusal to address the issue as a whole.

Since the publication of the first edition of this book inthe Social Security debate has moved to the center of the domestic policy agenda. In this updated edition of Saving Social Security, the authors analyze the Bush Administration's proposal for individual accounts and discuss the so-called "price indexing" proposal to restore long Reviews: 5.

Request PDF | A Summary of Saving Social Security: A Balanced Approach | This paper reviews the financial position of Social Security, presents a plan for saving it, and discusses why Social.

The book, called "Get What's Yours," is a guide to managing the complexities of Social Security, written by Boston University economist Laurence J. Kotlikoff, journalist Phil Moeller and "PBS.

A Summary of Saving Social Security: A Balanced Approach Peter A. Diamond and Peter R. Orszag1 Social Security is one of America’s most successful government programs. It has helped millions of Americans avoid poverty in old age, upon becoming disabled, or after the death of a family wage earner. Saving Social Security: A Balanced Approach (Revised Edition), by Peter A.

Diamond and Peter R. Orszag, "While everyone agrees that Social Security is a vital and necessary government program, there have been widely divergent plans .Saving Social Security is essential reading for policymakers involved in reform, analysts, students, and all those interested in the fate of this safeguard of American lives.

Book Details Pages.Security'slong-termdeficit. Because SocialSecurity pays a benefit that continuesas long asthe beneficiary is alive, any increase in life expectancy at theage at which.