The National Government and Social Welfare: What Should Be the Federal Role?

By John E. Hansan; Robert Morris | Go to book overview

public or private approaches. Public programs of social security are prevalent in many countries, but they are under intense criticism. Increasingly, a privatized Social Security program is proposed as a replacement. Although a privatized plan for individual saving and investment has attractive features, some key questions about privatization await satisfactory answers. Also, while there is no denying that many social security programs are facing mounting costs, the financial problems of such programs appear to result principally from faulty plan design and wrongheaded policy decisions, especially in an era of sluggish economies and aging populations. The design and policy maladies that undermine social security should and can be corrected. With its costs controlled by better plan designs and sensible policies, a redesigned social security program will become selfsustaining and financially stable. With a stable social security program as a foundation for a basic level of retirement income, other means of income support can then be used as supplements.


NOTES
1.
House Comm. on Ways and Means, Subcomm. on Social Security, Proposals for Alternative Investment of the Social Security Trust Fund Reserves: Hearing before the Subcomm. on Social Security, 103rd Cong., 2d sess., ser. 103-106, at 98- 108 ( 1995) (statement of Yung-Ping Chen on key issues of privatizing Social Security).
2.
Staff memoranda nos. 16, 19, and 20 from Robert J. Myers of the Nat'l. Comm. on Soc. Sec. Reform ( 1982).
3.
Staff memoranda nos. 16, 19, and 26 from Robert J. Myers of the Nat'l. Comm. on Soc. Sec. Reform ( 1982).
4.
Yung-Ping Chen, "Making Assets out of Tomorrow's Elderly," Gerontologist 27 ( 1987): 410-16; F. R. Bayo and J. Faber, Soc. Sec. Admin., U.S. Dept. of Health and Human Services, pub. no. 11-11500.6, Equivalent Retirement Ages: 1940- 2050, actuarial note no. 105 ( 1981).
5.
U.S. Dept. of Labor, Older Worker Task Force: Key Policy Issues for the Future ( 1989).
6.
The delayed retirement credit (DRC) is designed to compensate workers for not receiving benefits when they defer retirement. In other words, DRC increases their future benefits. The DRC rate, under existing law, is 4.5 percent for persons born in 1929 or 1930. This is scheduled to rise to 8 percent for those born in 1943 or later. When DRC is at the rate of 8 percent, the compensation will become actuarially fair, in the sense that what one does not receive today, one will receive tomorrow. However, for all those born before 1943, thus attaining the normal retirement age before the year 2009, the compensation is actuarially unfair because future increases in benefits are worth less in present value terms than the current reductions in benefits.

-89-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The National Government and Social Welfare: What Should Be the Federal Role?
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 202

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.