7. Conclusion
Among the major factors influencing the results are:
-
Approximately 90% of all wages were subject to Social Security withholding in 1980; by 2004, that percentage had slipped to 85%.
-
In 1935, Social Security was designed to support older Americans who were dependent and beyond their productive period, originally calculated to begin at age 65, when men had an average of 12 years ahead of them.
-
Today, a 65-year-old man can expect to live for 17 more years (women, 20) — 5 years longer than original budget estimates. A system designed for men with 12 years ahead of them today would set the retirement age between 70 and 75
Given the relative scores under the additive model and the sensitivity analysis, the Raise the Ceiling and Raise the Retirement Age alternatives are almost identical in every respect, leaving each or a combination of the two as the optimal alternatives.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Attitudes of Individuals 50 and Older Toward Phased Retirement, AARP Research Brief, March 2005.
CBO Testimony by Douglas Holtz-Eakin before the Senate Finance Committee, February 2–3, 2005.
GOP exaggerates shortfall www.factcheck.org/article313.html
Heritage Foundation Social Security Research, www.heritage.org/Research/SocialSecuritv/index.cfm.
Index the retirement age or else www.hillnews.com/thehill/export/TheHi11/Comment/DickMorris/011205.html.
Long-term Analysis of Plan 2 of the President’s Commission to Strengthen Social Security, Douglas Holtz-Eakin — Director CBO, July 21, 2004.
No windfalls for Wall Street wwww.factcheck.org/article310.html.
Our Fight: Keeping Social Security Strong www.aarp.org/money/social security/Articles/a2004-10-22-ss_strong.html.
Old Age and Survivors Trust Funds, AARP Brief, March 2005.
Retirement Age and the Need for Saving, CBO Economic and Budget Issue Brief, May 12, 2004.
Read My Lips: The Sequel, The Weekly Standard, March 7, 2005
Social Security Reform Lite?, Business Week, March 3, 2005
Social Security vs Common Sense, Michael Boskin, Wall Street Journal, March 30, 2005.
Social Security Debate Continues to Draw Mail, David Wessel, Wall Street Journal, March 22, 2005.
Social Security Change Faces Labor Muscle, Jeanne Cummings, Wall Street Journal, March 22, 2005.
Social security polls www.pol1ingreport.com/social.htm
Social security calculator www.heritage.org/research/features/socialsecurity/welcome.asp
Social security numbers game www.hillnews.com/thehiU/export/TheHill/News/Frontpage/120804/social.security.html.
Strengthening Social Security and Creating Personal Wealth for All Americans, President’s Commission to Strengthen Social Security, December 21, 2001
System can still pay out but needs reform www.hilluews.com/thelii11/export/TheHill/News/Frontpage/030105/ss_santorum.html
The Future Growth of Social Security: It’s not just Society’s Aging, CBO Economic and Budget Issue Brief, July 1, 2003.
The Problems Facing Social Security And The Plan To Preserve Social Security For Future Generations www.gop.com/News/Read.aspx?ID=5129.
The Retirement Prospects of Baby Boomers, CBO Economic and Budget Issue Brief, March 18, 2004.
The Whitehouse Website, www.whitehouse.gov.
Treasury experts split on social security plan www.hil1news.com/thehill/export/TheHill/News/Fronrpage/021505/treasurv.html.
U.S. Rep. Phil English on the Issues — Retirement Security www.house.gov/english/philissues_retirement.shtml
US Senator Grassley Surprised By Social Security Opposition, Rob Wells and John Godfrey, Wall Street Journal, April 5, 2005
US Snow: Bush Unlikely To Back Raising Soc Sec Wage Cap, Deborah Lagomarsino, Wall Street Journal, March 28, 2005
Voting and Registration in the Election of November 2002, US Census Bureau, July 2004.
The Financing of Social Security http://www.aarp.org/money/social_security/Articles/a2003-04-02-ssfinancing.html
Rights and permissions
Copyright information
© 2006 Springer Science+Business Media, LLC
About this chapter
Cite this chapter
Checque, V., Nolph, L.E., Patt, B.R. (2006). Stabilizing Social Security for the Long-Term. In: Decision Making with the Analytic Network Process. International Series in Operations Research & Management Science, vol 95. Springer, Boston, MA. https://doi.org/10.1007/0-387-33987-6_9
Download citation
DOI: https://doi.org/10.1007/0-387-33987-6_9
Publisher Name: Springer, Boston, MA
Print ISBN: 978-0-387-33859-0
Online ISBN: 978-0-387-33987-0
eBook Packages: Business and EconomicsBusiness and Management (R0)