| Privatizing Social Security .Critics of plans to privatize Social Security (pensions) in the US and turn them into individual accounts invested in the stock market have five main objections. First, that there is no crisis in the funding of social security. Second, that the reform would merely involve shifting retirement investments from the bonds currently held by the Social Security Trust Fund to stocks held in personal accounts, which would not produce any general economic benefits and could not sustain higher benefits across the board. Third, that personal accounts would imply benefit cuts for many retired people. Fourth, that survivors' and disability benefits would also be threatened. And finally, that the guarantee offered by the government is exchanged for the risk of the stock market. The Failed Critique of Personal Accounts by Peter Ferrara rebuts and responds to each of these arguments in turn. This paper should be read alongside materials from the Cato Institute's Social Security websitePublished by the Cato Institute. | By Cato Institute ,US. | Welfare and Social Security Policy Resource. |
|
| Earned Income Tax Credit These surveys analyse the geographical location of the recipients of the Earned Income Tax Credit - the US precursor to the UK Working Families Tax Credit. In several cities it is suggested that a local EITC could complement the federal tax credit and provide additional help to working families. For example, New Jersey has recently enacted a refundable state-level tax credit which matches the federal credit at 15%. The Brookings Institution also recommend that cities run education and outreach campaigns, similar to that carried out by Chicago, in order to increase the take up of the EITC. Other useful EITC sites can be found at the Center on Budget and Policy Priorities EITC Analyses and the Joint Center for Poverty Research EITC Information Clearinghouse" is published by the The Brookings Institution | By The Brookings Institution ,US | Welfare and Social Security Policy
|
| Welfare Reform & Lone Mothers' Employment The 1990s in the US saw the devolution of much of welfare policy to State level, the introduction of work requirements for welfare recipients, increased childcare provision and a rise in the Earned Income Tax Credit. These reforms were introduced to move lone mothers into work - by mandating work, making work pay and helping with childcare - and the evidence presented here suggests that they did just that. Between 1994 and 1995 the numbers of people on welfare fell by half from 5million to 2.5 million. Over the same period labour force participation of lone mothers increased by 10%. Analysis suggests that this was due to a combination of two factors - the welfare reforms and the strong US economy. By Jane Waldfogel, Sandra K. Danziger, Sheldon Danziger and Kristin Seefeldt of the UK based Centre for the Analysis of Social Exclusion. Also worth viewing is the Urban Institute's Assessing the New Federalism project, which, amongst other things, tests the impact of lone parents' moves into work on child poverty. " is published by the Centre for the Analysis of Social Exclusion | By Centre for the Analysis of Social Exclusion ,UK | Welfare and Social Security Policy
|
| Universal Unified Child Credit
A proposal from the Economic Policy Institute to integrate the Earned Income Tax Credit with other US tax benefits and allowances. Detailed but concise, this paper addresses issues such as the high marginal tax rates, the marriage penalty and the complexity of application associated with the EITC. By Robert Cherry and Max B. Sawicky." is published by the Economic Policy Institute | By Economic Policy Institute ,US | Welfare and Social Security Policy
|
|
|
| 