There has been considerable concern that our Social Security (old age and survivors insurance) program is not
Question:
There has been considerable concern that our Social Security (old age and survivors insurance) program is not adequately financed: with expected birth rates, death rates, and increases in payroll tax collections, the current level of benefits can be sustained only with increases in tax rates. Some believe that the appropriate response is to reduce the current level of benefits, others that the appropriate response is to increase taxes in the future. Still, others, worried about the effects of even higher tax rates but believing that lowering the benefits of those currently receiving Social Security would be unfair, argue that benefits should be cut in the future. In this discussion, separate the positive statements from the normative statements. To what extent are the disagreements attributable to differences in views of the economy?.