[Download] "Borrowing to Save: A Critique of Recent Proposals to Partially Privatize Social Security." by Social Work ~ Book PDF Kindle ePub Free

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eBook details

• Title: Borrowing to Save: A Critique of Recent Proposals to Partially Privatize Social Security.
• Author : Social Work
• Release Date : January 01, 2007
• Genre: Social Science,Books,Nonfiction,
• Pages : * pages
• Size : 216 KB

Description

Social Security remains one of the United States's most important and successful public programs. Social Security, also referred to here as Old Age and Survivors Insurance and Disability Insurance (OASIDI), is important in part because it is so large. At the end of 2004, 48 million people were receiving benefits: 33 million retired workers and their dependents, 7 million survivors of deceased workers, and 8 million disabled workers and their dependents (Board of Trustees, 2005). Social Security is also important because it contains provisions for people of all ages, including survivors and disability benefits, and because benefit levels are adjusted for inflation and are progressive. That is, the program pays retired workers with a history of low wages a higher percentage of their preretirement earnings in monthly benefits than it does other workers. Even so, workers who earned higher wages receive a higher level of monthly benefits. Social Security has been successful. Since 1959, poverty rates for older Americans have dropped by more than two-thirds, from 35 percent to about 10 percent in 2003. Although poverty rates for elderly people in 1959 were higher than for children or for working-age adults (ages 18 to 64), in 2003 they were lower than for either group. Nearly two-thirds of U.S. senior citizens get at least half of their income from Social Security, and one in five has no income other than Social Security (Board of Trustees, 2005).

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