social security in a nut shell
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Social Security in a Nut Shell. What is it?. Contributory social insurance program providing benefits to millions of Americans Flat Tax, pay-as-you go on wages (4.2\%) Benefits based on average earnings during a thirty-five year career. . Trust Fund.

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Presentation Transcript
what is it
What is it?
  • Contributory social insurance program providing benefits to millions of Americans
  • Flat Tax, pay-as-you go on wages (4.2%)
  • Benefits based on average earnings during a thirty-five year career.
trust fund
Trust Fund
  • Any money left over after paying benefits is put into the Trust Funds, which are invested in U.S. government securities to provide funds for future use
progressive regressive
Progressive & Regressive

Progressive Benefits:

  • Lower wage earners receive benefits that represent a higher percent of their income.

Regressive Taxation:

  • Earnings over $110,000, interest and capital gains are not taxed.
  • Lower wage earners pay a larger percent of their income to SS.
t his means
This means …

Less funds for you and me

reform options
Reform Options

Raise Revenue:

  • Raise taxes
  • Remove or raise cap

Lower Costs:

  • Increase retirement age
  • Lower benefits paid

Privatize System:

  • Invest individual funds in stock market
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