The Basics: Social Security Reform

The Basics: Social Security Reform

Published and revised for 2005 by the Century Foundation, The Basics: Social Security Reform (58 pages, PDF) describes how the venerable program works, what's right with it, what's wrong with it, how our system compares to those of other industrialized nations, and the impact on the system of various reform proposals. The report argues that diverting payroll taxes into private accounts is a radical step that could exacerbate the demographic challenges confronting the current system, and recommends that relatively modest reductions in benefits and increases in revenues should be explored before more drastic measures are adopted.