Social Security

Private Alternatives To Social Security in Other Countries

Social security programs in most countries, including the United States, follow the model first adopted in Europe: they are financed by mandatory payroll taxes and provide benefits to current retirees…

Tax Fairness for the Elderly: Eliminating the Social Security Earnings Penalty

Social Security recipients under age 70 who earn more than a modest amount from wages or salary are America's most heavily taxed citizens. 

Compulsory Savings in Singapore: An Alternative to the Welfare State

Unlike most countries in the world today, which finance their social security systems on a pay-as-you-go basis, Singapore requires people to save for their own retirement.

Raising the Earnings Limit

The 42 million-plus Americans age 60 and over represent a vast store of human capital, rich in talent and ability. Yet this valuable resource is increasingly wasted.  If elderly workers under the age…

Taxing the Elderly

Social Security benefits were entirely free of taxes until 1983, when Congress voted to tax 50 percent of benefits above a certain income level. President Clinton raised this to 85 percent in 1993. Th…

Should 85 Percent of Social Security Benefits Be Taxed?

President Clinton proposes to increase the tax on Social Security benefits. Although the administration calls this an "entitlement spending reduction," what it proposes is a tax that will fall primari…

The Immigration Solution

Before the end of this decade, Social Security and Medicare will begin paying out more in benefits than the payroll tax (FICA) collects in revenues. As a result, taxes will have to rise. According to…

Should 85 Percent of Social Security Benefits Be Taxed?

The elderly pay income taxes on up to one-half of their Social Security benefits if their total income exceeds $25,000 (individual) or $32,000 (couples).  They pay taxes on 50 cents of benefits for ea…