tag:blogger.com,1999:blog-7334408760351487944.post6581562904911075554..comments2023-11-12T06:43:00.060-05:00Comments on Notes on Social Security Reform: WSJ: “New Evidence on the Phony ‘Retirement Crisis’”Andrew G. Biggshttp://www.blogger.com/profile/16617460431856611873noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7334408760351487944.post-75370768911151609902016-01-06T09:49:12.833-05:002016-01-06T09:49:12.833-05:00The figures don't really address fairness, sin...The figures don't really address fairness, since they don't look at taxes and benefits across generations (or at least past generations). They're designed to look at the adequacy of benefits, that is, how far does Social Security take you in terms of achieving an adequate total retirement income. If we assume a target replacement rate of around 70%, then it seems that for a typical retiree Social Security is getting you about 60/70ths of the way there, rather than the 40/70ths people assumed from looking at the SSA actauries way of calculating replacement rates. That gives us some idea of whether benefits need to be increased, can they be cut, etc? These are scheduled benefit levels, so payable benefits are lower for those retiring post-2030 or so.Andrew G. Biggshttps://www.blogger.com/profile/16617460431856611873noreply@blogger.comtag:blogger.com,1999:blog-7334408760351487944.post-74597866924504474552016-01-06T08:49:27.064-05:002016-01-06T08:49:27.064-05:00Andrew those these values may be correct, does it ...Andrew those these values may be correct, does it really apply to the discussion of reforming social security? If social security is not fair, then your article is one alternative way of looking at social security. However, if social security was and is to be a fair program across generations and individuals, then can you explain why your method of looking at the social security benefit in terms of wages is fair?<br /><br />Do your values assume fully payable scheduled benefits, if not how do payable benefits compare?WilliamLarsenhttps://www.blogger.com/profile/00226403551284640494noreply@blogger.com