{"title":"Workers Should Want to Pay More for Social Security","authors":"J. R. Clark, Dwight R. Lee","doi":"10.1093/EI/CBL002","DOIUrl":"https://doi.org/10.1093/EI/CBL002","url":null,"abstract":"One controversial aspect of the current Social Security system has been the relative distribution of its net costs and benefits between employers and workers. Using simple supply and demand analysis, we demonstrate that proponents and opponents of the current system are making arguments that support the position of their adversaries. In particular, proponents of the existing Social Security system should be arguing that workers pay all of the Social Security tax and then some with lower wages, while opponents should be arguing that employers are paying most of the tax. (JEL H55, D78) Copyright 2006, Oxford University Press.","PeriodicalId":430314,"journal":{"name":"PSN: Pensions & Retirement (Topic)","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124578999","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Social Security: Long-Term Financing and Reform","authors":"L. Randall Wray","doi":"10.2139/ssrn.1010332","DOIUrl":"https://doi.org/10.2139/ssrn.1010332","url":null,"abstract":"The Social Security program was intended to be modeled along the lines of a private insurance plan. Yet, it was never that similar, and changes over the years have made it even less so.This paper explores the factors contributing to the periodic \"crises\" in Social Security, considers the program's long-term financial prospects, and critiques privatization reform proposals. I describe changes in the calculation of contributions and benefits, changing economic and demographic factors, the system's method of financial accounting, and, most important, the nature of the assumptions underlying the fund trustees' reports. Indeed, the reason for the current looming crisis is not demographics but the pessimistic assumptions used in the reports of the 1980s and 1990s.I also question the wisdom of the \"fund\" approachwhere reserves are amassed, earn interest, and can be depleted in the futuregiven that US government revenues are not market-determined and can be supplemented at any time. The essential issue is whether the economy will continue to produce sufficient quantities of goods and services to provide for both workers and retirees in future years.","PeriodicalId":430314,"journal":{"name":"PSN: Pensions & Retirement (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130824366","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Simple Economics of Funded and Unfunded Pension Systems","authors":"D. Blake, J. Orszag","doi":"10.2139/ssrn.3635291","DOIUrl":"https://doi.org/10.2139/ssrn.3635291","url":null,"abstract":"This article reviews the economic theories of funded and unfunded pension systems and examines the advantages and disadvantages of each type of system; these theories help to explain the current interest in funded systems as well as the difficulties associated with the transition towards them.","PeriodicalId":430314,"journal":{"name":"PSN: Pensions & Retirement (Topic)","volume":"163 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1998-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121812842","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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