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"A comprehensive, collaborative elections resource."
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Social Security Interactive Policy Change Calculator
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| Parent | Parent Issue |
| Contributor | RP |
| Post Date | , 12:am |
| Description | The Penn Wharton Budget Model (PWBM) allows policymakers, members of the media, and the general public (“users”) to see the impact that potential reforms to Social Security will have on the Trust Fund, payroll tax revenues, benefits, and other key metrics. Potential reforms include an increase in Social Security’s payroll tax rate, an increase in the taxable maximum earnings limit, an option to base annual Social Security’s annual Cost-of-Living Adjustment (COLA) on a chain-weighted version of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), an across-the-board reduction or across-the board increase to Social Security benefits, a progressive benefit reduction, and an increase in the normal retirement age. Any combination of these policy options can be considered at the same time, thereby allowing for a total of 4,096 policy combinations. The PWBM’s model can be ran on a static basis or with dynamics that account for how individuals respond to policy changes. Our analysis below focuses on our benchmark model. |
| Article | Read Article |
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