Word: socialism
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
Similarly, BAGELS, cosponsored by Hillel and the BGLTSA, is a social outlet for students who are both Jewish...
...much will you have to pay in higher taxes to finance Social Security benefits for the Baby Boom generation? If you think this is an unimportant question for a 20-year-old Harvard student, think again. Without any changes, Social Security benefits are projected to exceed payroll tax revenues by approximately $160 trillion from now until 2075. To maintain the exiting system, our generation will have to bear a tremendous burden in the form of higher taxes during our working years and reduced benefits in our retirement years. In fact, economists estimate payroll taxes may have to rise at least...
...students learn in Ec 10, a fully-funded system has two important advantages over a pay-as-you-go system. First, it has a positive effect on national saving and economic growth. In the pay-as-you-go system, no savings occurs in the Social Security system. Payroll taxes are used to finance current consumption by retirees. Moreover, the expectation of future Social Security benefits discourages workers from saving some of their income for retirement. In the fully-funded system, savings accumulates in each individual's account. Savings is important because it fuels investment in plant and equipment. Additional plant...
...year-old working parents with children. In today's dollars, that couple will pay approximately $320,000 in payroll taxes over their lifetime, and will receive $450,000 in benefits during their retirement. This represents an annual rate of return of 1.23 percent. In other words, the Social Security system is equivalent to a bank account that yields 1.23 percent annually after adjusting for inflation. But remember--no such account exists in our pay-as-you-go system! On the other hand, if the couple had, placed that $320,000 in a tax-deferred account, and invested 50 percent...
Opponents of privatization argue that the existing Social Security system redistributes income from the rich to the poor, and consequently, is a good deal for most low income families. Nothing could be farther from the truth. According to the work by Beach and Davis, low income families receive only slightly higher returns than the average income household. They earn 1.85 percent on their "investment" in the current system, which is far below the five percent return offered by an investment in a balanced portfolio of government bonds and stocks. Moreover, some minorities earn negative returns in the current system...