One of the raps on Social Security is that it supposedly pits the older generation against the younger. This seems intuitive — after all, retired Americans collect the benefits but those in the working population make all the contributions. The notion of a generational war has been pushed aggressively by (among others) Boston University economist Lawrence …
Social Security at 81: A Wise Program Fit for New Challenges
Sunday, August 14 is the 81st anniversary of our Social Security system. While few of us were alive to celebrate the system’s first anniversary in 1936, even fewer have living memories of the social problems that gave rise to it. At the time, half of all seniors were living in poverty, individual retirement savings plans …
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How the Democratic and GOP Platforms Clash Over Social Security Reform
The Democratic plan would extend the Social Security trust fund’s solvency 50 years or more by lifting a cap on the payroll tax to force wealthier Americans to assume a much larger share of the program’s cost. It would also increase average monthly benefits to seniors and recast cost-of-living adjustments to make it more advantageous …
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