Privatizing Social Security

Privatizing Social Security

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This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. qTimely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans.q a€”Library Journal q[A] high-powered collection of essays by top experts in the€”Timothy Taylor, Public InterestThe social security trustees assume that the assets in the trust fund will earn a 2.3 percent real interest rate in the future. ... paid between age thirty and age sixty- five a€” the highest thirty-five years of earnings a€” are used in calculating benefits.

Title:Privatizing Social Security
Author:Martin Feldstein
Publisher:University of Chicago Press - 2008-04-15


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