Relevant:
- Democrats Push Plan to Increase Social Security Benefits and Solvency
- How the presidential candidates would change Social Security
- Republicans Casually Agree They’ll Never Allow Payroll Tax Cut to Rise Again
- Social Security Ran $47.8B Deficit in FY 2012; Disabled Workers Hit New Record in December: 8,827,795
- How Privatized Social Security Works in Galveston (And MLI's "Moron of the Month")
2011-05-12 — typepad.com
For the average 65-year-old retiring in 2010, Social Security replaced about 40 percent of working-age earnings. That "replacement rate" is scheduled to fall to 31 percent in the coming decades... Social Security's replacement rate puts it 26th among 30 Organization for Economic Cooperation and Development nations for workers with average earnings.
Note that the proposed "solution" at the end just amounts to a gigantic tax increase (on income over $106,000). But whether you agree or disagree with this, the big problem would be it would amount to a change of the Social Security system from a personal insurance scheme to a redistribution scheme, which pretty much undermines its raison d'etre.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.