Social Security: Prefunding Is Not the Answer!

Thomas Palley

Challenge, 2002, vol. 45, issue 2, pages 97-118

Abstract: This economist responds to an article on reforms to social security by Thomas Michl in our November– December 2001 issue. Thomas Palley believes the best way to finance social security is to cut payroll taxes and finance the public pension system from general tax revenues. Prefunding social security will not increase savings over time, says the author.

Date: 2002
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