Book description
Even if solvent, Social Security needs reform because health, life spans, work, and migration patterns are changing, the authors argue. They develop a blueprint that identifies "right" reforms--those that achieve fiscal balance and increase Social Security's responsiveness to today's and tomorrow's needs.
Why read it?
1 author picked Retooling Social Security for the 21st Century as one of their favorite books. Why do they recommend it?
Even if Social Security were solvent, argue the authors, Social Security needs reform because health, life spans, work, and migration patterns are changing.
It lays out principles on which to base reform. For instance, concerning horizontal equity for people at a point in time at the same income level, the lifetime earnings formula tries to provide equal net benefits relative to taxes, for those with equal lifetime earnings. The spousal and survivor benefit, on the other hand, violates horizontal equity on a wide range of fronts.
From John's list on fixing social security.
If you love Retooling Social Security for the 21st Century...
Social Security for Future Generations
This book provides new options for reform of the Social Security (OASI) program. Some options are inspired by the U.S. pension system, while others are inspired by the literature on financial literacy or the social security systems in other countries.
An example of our proposals inspired by the U.S. pension…
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