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Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Social Security and Family Policy
Publisher:
Published: 1995
Total Pages: 108
ISBN-13:
DOWNLOAD EBOOK →Author: Martin Feldstein
Publisher: University of Chicago Press
Published: 2008-04-15
Total Pages: 484
ISBN-13: 0226241823
DOWNLOAD EBOOK →This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest
Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Social Security and Family Policy
Publisher:
Published: 1995
Total Pages: 95
ISBN-13:
DOWNLOAD EBOOK →Author: Paul E Peterson
Publisher: Routledge
Published: 2016-07-01
Total Pages: 164
ISBN-13: 1315501953
DOWNLOAD EBOOK →Offers a clear understanding of what Social Security has accomplished in the past, challenges it now faces, and possibilities for the future. Outlines the full spectrum of current issues, policies, benefits, and proposed reforms.
Author: Caroline Mutuku
Publisher: GRIN Verlag
Published: 2018-07-12
Total Pages: 6
ISBN-13: 3668749027
DOWNLOAD EBOOK →Polemic Paper from the year 2018 in the subject Business economics - Economic Policy, grade: 1, , language: English, abstract: This paper will provide a comprehensive argument against the proposal for the privatization of social security. Privatization of social security seems to have created an unprecedented debate in the past decade. This is attributable to the conflict of ideas between the critics of moving social security into private accounts and supporters of the proposal. From an economic perspective, the proposal to move social security into private account is believed to have been suggested, in order to prevent financial shortfalls in the future as it was the case in 1980s when financial difficulties were experienced. Historically, social security was created in 1935 through the Social Security Act, which was signed by President Franklin D. Roosevelt. This was meant establish a social insurance system that would protect workers and their families from catastrophic financial losses owing to retirement, disability or death. Since its inception, the US social security program provides monthly income benefits to workers who are under the social security system. As such, it ensures that workers and their families are protected against wage loss. For instance, in 2009, 69% of social security benefits were offered to retired workers, as well as their families, whereas disabled workers and survivors of the deceased workers received 18% and 13% of social security benefits, respectively. Currently, most Americans rely on social security program as the main retirement plan, and this phenomenon has raised concerns on its sustainability in the future. It is projected that over forty million Americans will attain their retirement age between 2010 and 2040. This implies that the social security will become one of the greatest single expenditures of the federal budget. This is probably why proponents of the proposal for moving social security to private accounts maintain that privatization will address insolvency in the future. Despite the benefits associated with the privatization of social security, there are numerous disadvantages which will create problems to the beneficiaries of the social security program.
Author: Robert Asen
Publisher: MSU Press
Published: 2009-03-02
Total Pages: 276
ISBN-13: 1628952725
DOWNLOAD EBOOK →In Invoking the Invisible Hand Robert Asen scrutinizes contemporary debates over proposals to privatize Social Security. Asen argues that a rights-based rhetoric employed by Social Security's original supporters enabled advocates of privatization to align their proposals with the widely held belief that Social Security functions simply as a return on a worker's contributions and that it is not, in fact, a social insurance program. By analyzing major debates over a preeminent American institution, Asen reveals the ways in which language is deployed to identify problems for public policy, craft policy solutions, and promote policies to the populace. He shows how debate participants seek to create favorable contexts for their preferred policies and how they connect these policies to idealized images of the nation.
Author: Wallace C. Peterson
Publisher: Routledge
Published: 1999
Total Pages: 200
ISBN-13:
DOWNLOAD EBOOK →This text offers an understanding of what the US Social Security programme has accomplished in the past, the challenges it faces, and possibilities for the future. Contemporary issues, policies, benefits, and proposed reforms are outlined.
Author: National Academy of Social Insurance (U.S.). Panel on Privatization of Social Security
Publisher: MIT Press
Published: 1999
Total Pages: 204
ISBN-13: 9780262041775
DOWNLOAD EBOOK →This study addresses many important aspects of two politically charged proposals to remedy the Social Security crisis.
Author: Olivia S. Mitchell
Publisher: University of Pennsylvania Press
Published: 1999-01-29
Total Pages: 446
ISBN-13: 9780812234794
DOWNLOAD EBOOK →The United States social security system is the nation's largest social insurance program. As such, it has a far-reaching impact throughout the economy, influencing not only old-age economic security but also many behaviors, including corporate employment policy, retirement patterns, and personal saving. In the past, the system's universal coverage and generous benefits ensured popular support to a degree enjoyed by no other form of "big government" social spending. Yet over two-thirds of all Americans today believe that the social security system will face bankruptcy by the time they retire. The question of social security reform—how to reform the system or whether the system needs reform at all—is the subject of heated debate at all levels of government, in the media, and among workers, pensioners, and employers. Prospects for Social Security Reform informs the debate by exploring why the system is at a crossroads today and what to do about it. Contributors detail the size and nature of the problem, explain views of key "stakeholders" regarding reform options, and report new evidence on how reform might affect the economy. Research findings and public opinion polls are analyzed, as are lessons from other countries experimenting with new ways to deliver old-age benefit promises. No other volume includes as diverse and expert a set of perspectives on reform and privatization as those gathered here from economists, actuaries, employers, investment managers, and representatives of organized labor. Among its chapters is the path-breaking study "Social Security Money's Worth," the 1999 winner of the TIAA-CREF's Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security.
Author: Jerry W. Markham
Publisher:
Published: 2012
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOK →The 2000 presidential election focused attention on an idea that has been surfacing for some time--the privatization of Social Security. Although opposition remains fierce, proposals for privatization have been gradually gaining acceptance as the inadequacy of benefits from the present system become more apparent, and bankruptcy becomes certain in the absence of additional onerous funding. Resistance to privatization largely centers on concerns that existing participants will lose their contributions and that private accounts may result in investment losses, which would leave future pensioners penniless. The disability and survivor benefits of the present Social Security system also raise concerns for the plight of the disadvantaged, should those features of Social Security be eliminated. However, proponents of private accounts argue that such accounts would provide far more social security and retirement benefits than available under the present government system, which offers little more than a poverty line existence to individuals dependent on Social Security for retirement. Proponents further contend that the system can be privatized without undue hardship and that survivor and disability benefits can be privately insured more effectively than through existing governmental programs. This Article will address the debate and discuss regulatory concerns that would arise with the creation of private social security accounts. As will be shown, the present system fails to provide real social security, and deprives those most in need of a retirement program of an opportunity to increase their wealth or to have a comfortable retirement. Shifting to a private system would be expensive, but could be accomplished through recognition of the benefits of private investments and through a program of tax credits and deductions. Existing regulatory requirements protect private social security account holders from fraud, as well as overreaching and unsuitable investments. The question remains whether the government should be the custodian and provider of investment choices in a “privatized” Social Security system. As explained in this Article, government control would ignite a never-ending war over the role of the government in selecting “socially responsible” investments.
