The Political Assimilation of Immigrants and Their Descendants
Sam Wilson and Alex Nowrasteh
Shifting benefits at the margin toward paying beneficiaries to work rather than to remain out of the work force would encourage beneficiaries with residual work capacities to return to work.
Social Security is inexorably headed toward financial insolvency.
This paper discusses the financial mechanics involved in privatizing Social Security, its potential contribution toward improving Americans’ retirement security, and the problems that may emerge from such a structural change to the program.
Social Security is not sustainable without reform. Simply put, it cannot pay promised future benefits with current levels of taxation. Yet raising taxes or cutting benefits will only make a bad deal worse. However, allowing younger workers to privately invest their Social Security taxes through individual accounts will improve Social Security’s rate of return; provide better retirement benefits; treat women, minorities, and low-income workers more fairly; and give workers real ownership and control of their retirement funds.
By Jagadeesh Gokhale. Policy Analysis No. 762. October 22, 2014.
By Tad DeHaven. Policy Analysis No. 733. August 6, 2013.
By Jagadeesh Gokhale. White Paper . February 13, 2013.
By Michael D. Tanner. Policy Analysis No. 692. February 13, 2012.
By Michael D. Tanner. Policy Analysis No. 689. November 17, 2011.
The program is structurally unsound: its rules induce those who could work despite medical impairments to exit the labor force and apply for benefits.