Published June 30, 2005
by American Enterprise Institute Press .
Written in English
|The Physical Object|
|Number of Pages||70|
Social Security and Redistribution. With annual expenditures of over $ Billion, Social Security is the largest government program in the U.S. Social Security is also the single largest source of income for the elderly, accounting for 40 percent of all income going to individuals age 65 and above and over 80 percent of income for the poorest quintile of families. This book studies the redistribution impact of social security schemes on income distribution. A detailed model is derived from the particular example of the Netherlands, but the findings have significant implications for all those concerned with social . In their new book, Income Redistribution from Social Security, Don Fullerton, the Addison Baker Duncan Centennial Professor of Economics at the University of Texas-Austin, and Brent Mast, a. (A value of 1 implies that Social Security makes no difference - there is no redistribution.) The second step is to shift the analysis to lifetime income, to reflect the fact that Social Security is like a retirement saving program, to which people make contributions during their working years and receive benefits in retirement.
Income redistribution and the Social Security program. Ann Arbor: UMI Research Press, © (OCoLC) Online version: Wolff, Nancy, Income redistribution and the Social Security program. Ann Arbor: UMI Research Press, © (OCoLC) Document Type: Book: All Authors / Contributors: Nancy Wolff. Social Security, in , was intended to provide for elderly individuals without adequate sources of income. And it has a “progressive” benefit schedule that replaces a higher percentage of past earnings for those with low past earnings than for those with high past earnings. Income Redistribution and Social Security: An application of microsimulation (International Studies in Economic Modelling): Medicine & . The other 75 percent—more than $ billion a year—gets distributed regardless of need. Social Security payments shift approximately $ billion of income a year to the elderly regardless of their wealth, and on average the elderly possess about twice the net worth per family as does the general population.
income redistribution a policy concerned with altering the pattern of the PERSONAL DISTRIBUTION OF INCOME in an economy, mainly with social rather than economic objectives in mind. The general aim of such a policy is to achieve a more equitable distribution of income as between the various sections of the community so as to ensure that everybody is provided . FILE - In this Feb. 11, , file photo rolls of blank social security checks run through printers and are processed at the U.S. Treasury's Financial Management services facility in Philadelphia. The key point, though, is that Social Security as it currently runs is not neutral in terms of income inequality and wealth redistribution, and so those proposing changes have to consider that. Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others by means of a social mechanism such as taxation, charity, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between .