Lifetime taxpayer contributions and benefits of medicare and social security Jing Guo and Marilyn Moon
By: Guo, Jing
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Contributor(s): Moon, Marilyn.
Material type: 
ArticlePublisher: 2018Subject(s): ESPERANZA DE VIDA | EDAD DE JUBILACION | RETENCIONES DEL TRABAJO | PENSIONES | SALUD PUBLICA | SEGURIDAD SOCIAL | ESTADOS UNIDOSOnline resources: Click here to access online
In:
Contemporary Economic Policy v. 36, n. 3, July 2018, p. 483-492Summary: Many criticisms of Medicare and Social Security have suggested that beneficiaries get more than they paid into the system over their lifetimes and these entitlement programs may be unsustainable if they are insufficiently funded. But studies do not
always use appropriate assumptions for estimating lifetime values. Our simulation model properly aligns the financing sources with the benefits received by making consistent comparisons and using a more appropriate inflation adjustment. Our study suggests that using different assumptions can dramatically change the balance between contributions and benefits as compared with other analyses. Choosing the appropriate assumptions is essential for a reasoned debate on the important issues about the future and financing of Medicare and Social Security.
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| OP 1634/2018/2-2 Does fiscal decentralization affect infrastruture quality? | OP 1634/2018/3 Contemporary Economic Policy | OP 1634/2018/3-1 Longevity, working lives and public finances | OP 1634/2018/3-2 Lifetime taxpayer contributions and benefits of medicare and social security | OP 1634/2018/4 Contemporary Economic Policy | OP 1634/2018/4-1 Growth and variability os school district income tax revenues | OP 1634/2019/1 Contemporary Economic Policy |
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Many criticisms of Medicare and Social Security have suggested that beneficiaries get more than they paid into the system over their lifetimes and these entitlement programs may be unsustainable if they are insufficiently funded. But studies do not
always use appropriate assumptions for estimating lifetime values. Our simulation model properly aligns the financing sources with the benefits received by making consistent comparisons and using a more appropriate inflation adjustment. Our study suggests that using different assumptions can dramatically change the balance between contributions and benefits as compared with other analyses. Choosing the appropriate assumptions is essential for a reasoned debate on the important issues about the future and financing of Medicare and Social Security.
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