Tag: Social Security program

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The brief’s key findings are: As policymakers consider restoring balance to Social Security, understanding the reason for the shortfall is important. Specifically, the program’s “pay-as-you-go” approach, which dates back to the late 1930s, makes it expensive relative to a funded system. Paying full benefits to Depression-era workers meant forgoing the opportunity to accumulate more revenu…

Social Security Card: Senior woman holding card in hand on white background

The brief’s key findings are: While Americans are generally living longer, the gains have been unequal; those with higher socioeconomic status (SES) have substantially longer lifespans. This growing mortality gap works against Social Security’s progressive benefit design, as higher-SES individuals end up getting their benefits for a longer period. As a result, studies find that the mortality…