>Principles of the Social Security Program

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Andrew Biggs, my favorite blog for the conservative side of thinking about Social Security, linked to an informative piece by the Social Security Administration about the principles of the Social Security Program.  It’s worth a read.  In summary, the basic principles are:

  1. Social Security Benefits are Paid as a Legal Right and not According to Need
  2. Social Security Benefits are Related to Your Work
  3. Social Security is Financed by Your Payroll Taxes
  4. Social Security Benefits are Weighted

On another note, “Where has Michael been?” you might be asking.  I took a weeklong trip for work down to Charleston, SC.  I didn’t get a chance to write about what might be one of the biggest Metro stories of the year (a million plus riders for inauguration day, and an unprecedented 15 straight hours of rush hour train service), and I rediscovered Transport Tycoon Deluxe (in the form of its Open-source clone, Openttd).

Coming up, I’m going to be writing about a 400-page contract I received as part of a PARP request from Metro, and a property that really needs a crosswalk.

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About perkinsms

I'm an engineer and father interested in transit, parking and economics.
This entry was posted in economics, entitlements, government, meta, social security. Bookmark the permalink.

One Response to >Principles of the Social Security Program

  1. Mark says:

    >I do not like this page.It’s funny because it says that payments are not ‘according to need’, but then it also says that “The goal of social adequacy assures that individuals receive a level of benefits that reflects their lesser ability to prepare for the risk.”Then they completely lie and state “The goal of individual equity means that a person receives a reasonable return on his/her investment in Social Security.” even though marginal RoI on social security taxes is, of course, negative and total RoI can be below 2%.Then they finally admit that SS really is just a wealth-redistribution tax, but “any additional cost to the program as a result of the weighting of benefits is more than offset by the social gains that result.”

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