Allocating Payroll Tax Revenue to Personal Retirement Accounts to Maintain Social Security Benefits and the Payroll Tax Rate

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ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (248 download)

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Book Synopsis Allocating Payroll Tax Revenue to Personal Retirement Accounts to Maintain Social Security Benefits and the Payroll Tax Rate by : Martin S. Feldstein

Download or read book Allocating Payroll Tax Revenue to Personal Retirement Accounts to Maintain Social Security Benefits and the Payroll Tax Rate written by Martin S. Feldstein and published by . This book was released on 2000 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an earlier paper we analyzed a method of combining traditional tax financed pay-as-you-go Social Security benefits with annuities financed by Personal Retirement Accounts. We showed that such a combination could maintain the level of retirement income projected in current Social Security law while avoiding a future increase in the payroll tax rate. The current paper extends the earlier analysis in four ways: (1) We now specify that the funds deposited in the Personal Retirement Accounts come from allocating 2 percent of the 12.4 percent payroll tax instead of being additional funds provided from outside the system. (2) We discuss the effects of the uncertain return on investment based annuities. (3) We provide estimates of the cost of permitting bequests if individuals die either before retirement or during the first twenty years after retirement. (4) We update the statistical basis for our estimates to be consistent with the 2000 Social Security Trustees Report. Our analysis shows that a program of Personal Retirement Accounts funded by allocating 2 percent of the 12.4 percent payroll tax collections can maintain the retirement income projected in current law while avoiding any increase in the 12.4 percent payroll tax. The combination of the higher return on the assets in the Personal Retirement Accounts and the use of the additional corporate profits taxes that result from the increased national saving in Personal Retirement Accounts is sufficient to maintain the solvency of the Social Security Trust Fund even though the tax payments to the fund are reduced from 12.4 percent of taxable payroll to 10.4 percent of taxable payroll. Although there is a period of years when the Trust Fund must borrow, it is able to repay this borrowing with interest out of future tax collections. In the long run, the Trust Fund becomes very large, implying that it would be possible to reduce the payroll tax further or to increase retirement incomes above the levels projected in current law

Allocating Payroll Tax Revenue to Personal Retirement Accounts to Maintain Social Security and the Payroll Tax Rate

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Total Pages : 0 pages
Book Rating : 4.:/5 (733 download)

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Book Synopsis Allocating Payroll Tax Revenue to Personal Retirement Accounts to Maintain Social Security and the Payroll Tax Rate by : Martin Stuart Feldstein

Download or read book Allocating Payroll Tax Revenue to Personal Retirement Accounts to Maintain Social Security and the Payroll Tax Rate written by Martin Stuart Feldstein and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Two Percent Personal Retirement Accounts

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ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Two Percent Personal Retirement Accounts by : Martin S. Feldstein

Download or read book Two Percent Personal Retirement Accounts written by Martin S. Feldstein and published by . This book was released on 1998 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Maintaining Social Security Benefits and Tax Rates Through Personal Retirement Accounts

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)

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Book Synopsis Maintaining Social Security Benefits and Tax Rates Through Personal Retirement Accounts by : Martin S. Feldstein

Download or read book Maintaining Social Security Benefits and Tax Rates Through Personal Retirement Accounts written by Martin S. Feldstein and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A program of Personal Retirement Accounts (PRAs) funded by deposits equal to 2.3 percent of earnings (up to the Social Security maximum) would permit retirees to receive more income in retirement than with the current Social Security program while at the same time making it unnecessary to increase the 12.4 percent payroll tax in response to the aging of the population. The gross cost of these deposits, approximately 0.9 percent of GDP, could be financed for more than a decade out of the budget surpluses currently projected by the Congressional Budget Office. By the year 2030, the additional corporate tax revenue that results from the enlarged capital stock financed by PRA assets would be able to finance fully these personal tax credits. During the intervening years (about 2020 to 2030), a reduction of other government spending or an increase in taxes would be needed if budget deficits are to be avoided. If implemented, the PRA program would not only increase retirement income and stabilize the Social Security payroll tax, but would also substantially increase national saving and GDP. NOTE: This is a revised version of "Two Percent Personal Retirement Accounts: Their Potential Effects on Social Security Tax Rates and National Saving," by Martin Feldstein and Andrew Samwick, issued in April, 1998 as working paper 6540.

Strengthening Social Security

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ISBN 13 :
Total Pages : 126 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Strengthening Social Security by : United States. Congress. Senate. Special Committee on Aging

Download or read book Strengthening Social Security written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 2004 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Tax Withholding and Estimated Tax

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Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis Tax Withholding and Estimated Tax by :

Download or read book Tax Withholding and Estimated Tax written by and published by . This book was released on 1995 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Privatizing Social Security

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Publisher : University of Chicago Press
ISBN 13 : 0226241823
Total Pages : 484 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis Privatizing Social Security by : Martin Feldstein

Download or read book Privatizing Social Security written by Martin Feldstein and published by University of Chicago Press. This book was released on 2008-04-15 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. "Timely 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." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest

Individual retirement arrangements (IRAs)

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ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.:/5 (334 download)

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Book Synopsis Individual retirement arrangements (IRAs) by : United States. Internal Revenue Service

Download or read book Individual retirement arrangements (IRAs) written by United States. Internal Revenue Service and published by . This book was released on 1990 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Social Security Pension Reform in Europe

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Publisher : University of Chicago Press
ISBN 13 : 0226241912
Total Pages : 515 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis Social Security Pension Reform in Europe by : Martin Feldstein

Download or read book Social Security Pension Reform in Europe written by Martin Feldstein and published by University of Chicago Press. This book was released on 2009-02-15 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social Security in the United States and in Europe is at a critical juncture. Through the essays assembled in Social Security Pension Reform in Europe, Martin Feldstein and Horst Siebert, along with a number of distinguished contributors, discuss the challenges facing Social Security reform in the aging societies of Europe. A remarkable range of European nations—Germany, France, Finland, the Netherlands, Poland, Romania, Italy, Sweden, the United Kingdom, and Hungary—have implemented or are about to implement mixed Social Security systems that combine a traditional defined benefit of the pay-as-you-go system with an individual retirement account defined contribution of a capital-funded system. The essays here highlight the problems that the European pension reform process faces and how it differs from that of the United States. This timely volume will significantly enrich the debate on pension reform worldwide.

Seeking Middle Ground on Social Security Reform

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Publisher : Hoover Institution Press
ISBN 13 : 0817999760
Total Pages : 102 pages
Book Rating : 4.8/5 (179 download)

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Book Synopsis Seeking Middle Ground on Social Security Reform by : David Koitz

Download or read book Seeking Middle Ground on Social Security Reform written by David Koitz and published by Hoover Institution Press. This book was released on 2013-11-01 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at both the Republican and the Democratic Party plans for Social Security, showing how each confronts significant ideological and political hurdles. David Koitz cuts through the partisan rhetoric that has made social Security one of the most debated programs on the U.S. political scene and looks at both the Republican and the Democratic plans for Social Security, showing important flaws in each.

Schumpeterian Perspectives on Innovation, Competition and Growth

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Publisher : Springer Science & Business Media
ISBN 13 : 3540937773
Total Pages : 450 pages
Book Rating : 4.5/5 (49 download)

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Book Synopsis Schumpeterian Perspectives on Innovation, Competition and Growth by : Uwe Cantner

Download or read book Schumpeterian Perspectives on Innovation, Competition and Growth written by Uwe Cantner and published by Springer Science & Business Media. This book was released on 2009-07-25 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent developments in economics have gone from the recognition of the importance of innovation for growth and the exploration of innovation mechanisms to the incorporation of the results of the previous research into economic models. An important lesson to be drawn from all this research is that a purely macro-based analysis of growth is not enough. The various mechanisms of innovation creation and diffusion, the importance of agent heterogeneity, of market selection processes, of the internal organization of the firm and of organizational routines, and the obsolescence and the consequent emergence of new types of capital goods are a few examples of micro-economic phenomena that contribute decisively to macro-economic development. The papers in this volume approach those issues from a Schumpeterian point of view and tackle issues like the growing importance of knowledge and human capital; increasing returns and path dependence; the role of variety in economic growth; competition and industry evolution.

Tax Policy and the Economy

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Publisher : MIT Press
ISBN 13 : 9780262661294
Total Pages : 240 pages
Book Rating : 4.6/5 (612 download)

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Book Synopsis Tax Policy and the Economy by : James M. Poterba

Download or read book Tax Policy and the Economy written by James M. Poterba and published by MIT Press. This book was released on 2002 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current issues in tax policy.

(Circular E), Employer's Tax Guide - Publication 15 (For Use in 2021)

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ISBN 13 : 9781678085223
Total Pages : 52 pages
Book Rating : 4.0/5 (852 download)

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Book Synopsis (Circular E), Employer's Tax Guide - Publication 15 (For Use in 2021) by : Internal Revenue Service

Download or read book (Circular E), Employer's Tax Guide - Publication 15 (For Use in 2021) written by Internal Revenue Service and published by . This book was released on 2021-03-04 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employer's Tax Guide (Circular E) - The Families First Coronavirus Response Act (FFCRA), enacted on March 18, 2020, and amended by the COVID-related Tax Relief Act of 2020, provides certain employers with tax credits that reimburse them for the cost of providing paid sick and family leave wages to their employees for leave related to COVID‐19. Qualified sick and family leave wages and the related credits for qualified sick and family leave wages are only reported on employment tax returns with respect to wages paid for leave taken in quarters beginning after March 31, 2020, and before April 1, 2021, unless extended by future legislation. If you paid qualified sick and family leave wages in 2021 for 2020 leave, you will claim the credit on your 2021 employment tax return. Under the FFCRA, certain employers with fewer than 500 employees provide paid sick and fam-ily leave to employees unable to work or telework. The FFCRA required such employers to provide leave to such employees after March 31, 2020, and before January 1, 2021. Publication 15 (For use in 2021)

Pensions: Challenges and Reforms

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Publisher : Routledge
ISBN 13 : 1351151797
Total Pages : 256 pages
Book Rating : 4.3/5 (511 download)

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Book Synopsis Pensions: Challenges and Reforms by : Einar Overbye

Download or read book Pensions: Challenges and Reforms written by Einar Overbye and published by Routledge. This book was released on 2017-11-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Throughout the developed world, public and private pension schemes face major challenges that are creating irresistible pressures for reform. Major structural changes in Latin America and in Central and Eastern Europe have led to particularly fierce pressure. Two member states of the European Union - Italy and Sweden - have introduced radical reform of their public pensions systems; controversial pension reforms have been proposed in France and Germany; and the British government has been widely criticized over its pension reforms and its 2002 white paper. This exceptional volume examines the challenges faced by pension schemes in the advanced economies and the reforms that have been introduced to tackle these challenges. A team of international contributors provides an up-to-date, invaluable analysis of different aspects of pension problems, prospects and reforms. The book incorporates cross-national chapters as well as a focus on individual countries including Belgium, Brazil, Colombia, Finland, Greece, Italy, Sweden, the UK and the USA.

The Charles Schwab Guide to Finances After Fifty

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Publisher : Crown Currency
ISBN 13 : 0804137366
Total Pages : 434 pages
Book Rating : 4.8/5 (41 download)

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Book Synopsis The Charles Schwab Guide to Finances After Fifty by : Carrie Schwab-Pomerantz

Download or read book The Charles Schwab Guide to Finances After Fifty written by Carrie Schwab-Pomerantz and published by Crown Currency. This book was released on 2014-04-01 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here at last are the hard-to-find answers to the dizzying array of financial questions plaguing those who are age fifty and older. The financial world is more complex than ever, and people are struggling to make sense of it all. If you’re like most people moving into the phase of life where protecting—as well as growing-- assets is paramount, you’re faced with a number of financial puzzles. Maybe you’re struggling to get your kids through college without drawing down your life’s savings. Perhaps you sense your nest egg is at risk and want to move into safer investments. Maybe you’re contemplating downsizing to a smaller home, but aren’t sure of the financial implications. Possibly, medical expenses have become a bigger drain than you expected and you need help assessing options. Perhaps you’ll shortly be eligible for social security but want to optimize when and how to take it. Whatever your specific financial issue, one thing is certain—your range of choices is vast. As the financial world becomes increasingly complex, what you need is deeply researched advice from professionals whose credentials are impeccable and who prize clarity and straightforwardness over financial mumbo-jumbo. Carrie Schwab-Pomerantz and the Schwab team have been helping clients tackle their toughest money issues for decades. Through Carrie’s popular “Ask Carrie” columns, her leadership of the Charles Schwab Foundation, and her work across party lines through two White House administrations and with the President’s Advisory Council on Financial Capability, she has become one of America’s most trusted sources for financial advice. Here, Carrie will not only answer all the questions that keep you up at night, she’ll provide answers to many questions you haven’t considered but should.

Brookings Papers on Economic Activity, 2000

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Publisher : Brookings Institution Press
ISBN 13 : 9780815705819
Total Pages : 404 pages
Book Rating : 4.7/5 (58 download)

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Book Synopsis Brookings Papers on Economic Activity, 2000 by : William C. Brainard

Download or read book Brookings Papers on Economic Activity, 2000 written by William C. Brainard and published by Brookings Institution Press. This book was released on 2000-12-01 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published twice a year, BPEA offers authoritative, in-depth research on economic development for economists, government officials, and members of the financial and business communities. For nearly thirty years, BPEA has been an indispensable source for scholars and policymakers seeking objective analysis of major macroeconomic issues. " Social Security Reform and National Saving in an Era of Budget Surpluses" by Douglas W. Elmendorf and Jeffrey B. Liebman " E-Capital: The Link between the Stock Market and the Labor Market in the 1990s" by Robert E. Hall " Real Estate and the Macroeconomy" by Karl E. Case " The Economic Consequences of Disappearing Government Debt" by Vincent Reinhart and Brian Sack " Financial Market Implications of the Federal Debt Paydown" by Michael J. Fleming " Tax Smoothing Implications of the Federal Debt Paydown" by George J. Hall and Stefan Krieger

Achieving Growth and Prosperity Through Freedom

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Publisher :
ISBN 13 :
Total Pages : 488 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Achieving Growth and Prosperity Through Freedom by : United States. Congress. Joint Economic Committee

Download or read book Achieving Growth and Prosperity Through Freedom written by United States. Congress. Joint Economic Committee and published by . This book was released on 2000 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: