Bringing Reality into Conventional Economics
Raising Social Security’s Full Retirement Age leaves all workers with two bad choices: working longer or living on reduced monthly benefits.
Telling workers to work longer further penalizes Blacks and low-wage workers because they are unlikely to live long enough to recoup payments foregone as a result of delayed claiming. Instead of cutting Social Security benefits, we need to give all workers a real choice of when to retire by strengthening Social Security and creating Guaranteed Retirement Accounts.
Authors: Teresa Ghilarducci, Kyle Moore, and Anthony Webb
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SCEPA works to focus the public economics debate on the role government can and should play in the real productive economy - that of business, management, and labor - to raise living standards, create economic security, and attain full employment.
Copyright ©2020 Schwartz Center for Economic Policy Analysis The New School
Copyright ©2020 Schwartz Center for Economic Policy Analysis The New School