Items tagged with Social Security:
News & Updates:
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The White House will submit its budget proposal to Congress on Tuesday as President Trump is abroad on his trip to the Middle East and Europe. The proposal is expected to include large cuts to the EPA and social safety net programs while increasing spending on national security, border protection, and infrastructure. This is right after the Federal Reserve has released its annual survey of U.S. households, which found that households with higher education are continuing to improve, however, those high school or less education are increasingly struggling. -
Faculty Affiliate Olivia S. Mitchell writes for Forbes on annuities in retirement plans. According to her research, including well-designed longevity annuities as defaults in 401k plans and IRAs would make most workers better off. Putting the pensions back into retirement plans is a sensible way to manage retirement risk. -
In the frenzied analysis following the third presidential debate, one issue appears to have gone virtually unaddressed: the national debt. As of October 21, 2016, the total public debt outstanding was $19.8 trillion, and the nonpartisan Committee for a Responsible Federal Budget suggests that neither Hillary Clinton nor Donald Trump’s current tax plans will do anything other than increase that number, despite their insistence otherwise. In this article we will explore the current state of the national debt and discuss its impact on the federal budget, especially spending on entitlements, as well as the political atmosphere in the United States.
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According to a new controversial proposal, raising the Social Security retirement age to 76 will be “fairer” and incentivize more labor force participation, as well as extend Social Security coverage.
Research by Faculty Affiliate Olivia Mitchell, however, claims the opposite: she want to reward people who delay claiming their Social Security benefits and keep working, without changing the retirement age. The lump sum would encourage workers to voluntarily stay on the job, on average by about 1 1/2 to 2 years longer, she calculates.
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Universal Basic Income is a policy that offers a standard income floor for every citizen. Some would call this an important social safety net, while others would describe it as reckless government spending. How can we better understand UBI?
