Social security and its discontents : perspectives on choice / edited by Michael D. Tanner.

Format:

Book

Contributor:

Tanner, Michael, 1956-

Cato Institute.

Language:

English

Subjects (All):

Social security--United States.

Social security.

United States.

Social security--United States--Finance.

Finance.

Social security--United States--Forecasting.

Forecasting.

Economic forecasting--United States.

Economic forecasting.

United States--Economic conditions--2001-2009.

Economic conditions.

United States. Social Security Administration.

Physical Description:

vii, 386 pages : illustrations ; 24 cm

Place of Publication:

Washington, D.C. : Cato Institute, [2004]

Summary:

Social Security is the largest government program in the world. But it is also a deeply troubled one, on the verge of financial collapse. Within 15 years, Social Security will begin running a deficit. Overall, the program is more than $26 trillion in debt. Without fundamental reform it will not be able to pay the benefits it has promised to our children and grandchildren. That has prompted the most far -- reaching discussion of the purpose and structure of Social Security since the program was enacted in 1935. Not so very long ago, Social Security was rightly regarded as the "third rail" of American politics -- touch it and your career dies. But no longer. Polls today show that the vast majority of Americans support proposals that would allow younger workers to privately invest at least part of their Social Security taxes through individual accounts. For more than 25 years, the Cato Institute has led the debate for Social Security reform, arguing that the program is fundamentally flawed and calling for greater freedom and choice for working Americans. Social Security and Its Discontents represents the best of Cato's publications on the issue. It includes essays by the nation's top economists and experts discussing Social Security's finances; the urgent need for reform; how the program treats women, minorities, and low-income workers; and the options for reform. With Social Security promising to be a hot-button issue for the 2004 election and in the years ahead, this book is essential reading for anyone who cares about what kind of country we will leave to our children and grandchildren.

Contents:

Part I The Crisis

1. Reengineering Social Security for the 21st Century / Thomas F. Siems 13

2. The Trust Fund, the Surplus, and the Real Social Security Problem / June O'Neill 37

3. "Saving" Social Security Is Not Enough / Michael Tanner 53

4. Property Rights: The Hidden Issue of Social Security Reform / Charles E. Rounds Jr. 69

5. Private Investment of Social Security: The $10 Trillion Opportunity / Martin Feldstein 81

6. The Moral Case for a Market-Based Retirement System / Daniel Shapiro 89

Part II Women, the Poor, and Minorities

7. Social Security Choices for the 21st-Century Woman / Leanne Abdnor 111

8. The Impact of Social Security Reform on Low-Income Workers / Jagadeesh Gokhale 133

9. Disparate Impact: Social Security and African Americans / Michael Tanner 147

Part III Solving the Problem

10. No Second Best: The Unappetizing Alternatives to Individual Accounts / Michael Tanner 165

11. Empowering Workers: The Privatization of Social Security in Chile / Jose Pinera 189

12. Perspectives on the President's Commission to Strengthen Social Security / Andrew G. Biggs 201

13. The 6.2 Percent Solution: A Plan for Reforming Social Security / Michael Tanner 281

Part IV The Tough Questions

14. Speaking the Truth about Social Security Reform / Milton Friedman 309

15. Administration Costs and the Relative Efficiency of Public and Private Social Security Systems / Robert Genetski 313

16. Personal Accounts in a Down Market: How Recent Stock Market Declines Affect the Social Security Reform Debate / Andrew G. Biggs 333

Part V The Public

17. Public Opinion and Private Accounts: Measuring Risk and Confidence in Rethinking Social Security / John Zogby 357.

Notes:

Includes bibliographical references and index.

ISBN:

1930865554

OCLC:

54503575