Social Security Research Questions
For various ages/incomes, what is the impact on individual account balances v. expected lifetime benefits of crediting an equal employer contribution (at the national average) to each employee working the minimum per quarter v. the current employer contribution which matches the employee contribution dollar for dollar?
Could the transition to privatization be accomplished more quickly if employers are exempted from contributing to OASI(62+) by capitalizing all past and current workers with stocks, futures and lump sum payments, while employee contributions are capitalized with government bonds?
How much would worker and company resistance to increasing pension contribution levels or income limits be decreased by having the increase go to individual accounts? Is acceptance increased by having the account invest largely, if not solely, in voting stock of the employer firm? Is union membership a factor in this?
What is the impact of raising the income cap to $100,000 over 20 to 40 years rather than raising the rate? How might some of each be done?
Please verify the Committee’s conclusions on progressive income taxation on page 6 by duplicating our research. Regress the Deficit/Surplus plus Net Interest expressed as a percentage of GDP and multiplied by –1 for years where there is a Republican President on to growth as a percentage the following fiscal year.
Please estimate various personal income tax rates for all income in the current 36% and 39.6 % tax brackets and determine how long it will take to retire the current debt held by the public at various rates. Note that wages and dividends for this group will also be subject to taxation under employer or invested firms’ Business Income Tax rate.
Estimate the Business Income Tax rate required to fund the current and proposed levels of spending for defense, non-retirement entitlements and domestic discretionary, given an $8,000 per dependent tax credit paid directly to employees. Is an $8,000 per dependent credit adequate to provide a decent standard of living? What should the applicable credit be, and how does this effect the Business Income Tax rate?
To ensure adequate revenue and broader compliance, what "special interest" provisions of the tax code should be repealed to enact Business Income Taxes?
Estimate the impact on wages of a Business Income Tax, both with and without the $8,000 per dependent credit, for various occupations in various industries for workers at various ages and family sizes. For example, what is the impact on a professional at age 40 with 3 children and one spouse who remains at home; 2 working professionals at ages 55 and 53 with 2 college age children; 2 service employees at ages 25 and 22 with 2 young children; couple in mid' 40s with no children; single worker with no children; divorced mother with 3 children, etc.? This analysis raises several questions:
What would the new "base wage/salary be for various occupations after the cost of child rearing is factored out?
How many wage earners/families would be effected?
Are age and income currently correlated with family size and expense in the current economy?
What would be the impact on "early outs" if middle age salaries had a family size component, which went away as children reach a certain age?
Explore aspects of Business Income Tax deductible/creditable training/education programs for young and low wage/skill workers, which also pay trainee salaries. Explore such programs in lieu of current educational grant/loan, TANF and publicly sponsored job training programs for all program participants after age 20.
How much must the Business Income Tax rate be increased over time to stabilize the Hospital Insurance Fund? The current tax rate is 2.9% of payroll. Our initial estimate is that 5% of payroll is necessary to close the gap between the current program and what is required.
Estimate the cost savings and impact of medical lines of credit.
Please cost out the various elements of the program as described by the Committee. How should the stated proposal be adjusted?
Estimate the impact on the economy (both national and global) of this program. Please estimate the impact of the adoption of the pension aspects of this proposal by the foreign elements of multi-national corporations.
Could the transition to privatization be accomplished more quickly if employers are exempted from contributing to OASI(62+) by capitalizing all past and current workers with stocks, futures and lump sum payments, while employee contributions are capitalized with government bonds?
How much would worker and company resistance to increasing pension contribution levels or income limits be decreased by having the increase go to individual accounts? Is acceptance increased by having the account invest largely, if not solely, in voting stock of the employer firm? Is union membership a factor in this?
What is the impact of raising the income cap to $100,000 over 20 to 40 years rather than raising the rate? How might some of each be done?
Please verify the Committee’s conclusions on progressive income taxation on page 6 by duplicating our research. Regress the Deficit/Surplus plus Net Interest expressed as a percentage of GDP and multiplied by –1 for years where there is a Republican President on to growth as a percentage the following fiscal year.
Please estimate various personal income tax rates for all income in the current 36% and 39.6 % tax brackets and determine how long it will take to retire the current debt held by the public at various rates. Note that wages and dividends for this group will also be subject to taxation under employer or invested firms’ Business Income Tax rate.
Estimate the Business Income Tax rate required to fund the current and proposed levels of spending for defense, non-retirement entitlements and domestic discretionary, given an $8,000 per dependent tax credit paid directly to employees. Is an $8,000 per dependent credit adequate to provide a decent standard of living? What should the applicable credit be, and how does this effect the Business Income Tax rate?
To ensure adequate revenue and broader compliance, what "special interest" provisions of the tax code should be repealed to enact Business Income Taxes?
Estimate the impact on wages of a Business Income Tax, both with and without the $8,000 per dependent credit, for various occupations in various industries for workers at various ages and family sizes. For example, what is the impact on a professional at age 40 with 3 children and one spouse who remains at home; 2 working professionals at ages 55 and 53 with 2 college age children; 2 service employees at ages 25 and 22 with 2 young children; couple in mid' 40s with no children; single worker with no children; divorced mother with 3 children, etc.? This analysis raises several questions:
What would the new "base wage/salary be for various occupations after the cost of child rearing is factored out?
How many wage earners/families would be effected?
Are age and income currently correlated with family size and expense in the current economy?
What would be the impact on "early outs" if middle age salaries had a family size component, which went away as children reach a certain age?
Explore aspects of Business Income Tax deductible/creditable training/education programs for young and low wage/skill workers, which also pay trainee salaries. Explore such programs in lieu of current educational grant/loan, TANF and publicly sponsored job training programs for all program participants after age 20.
How much must the Business Income Tax rate be increased over time to stabilize the Hospital Insurance Fund? The current tax rate is 2.9% of payroll. Our initial estimate is that 5% of payroll is necessary to close the gap between the current program and what is required.
Estimate the cost savings and impact of medical lines of credit.
Please cost out the various elements of the program as described by the Committee. How should the stated proposal be adjusted?
Estimate the impact on the economy (both national and global) of this program. Please estimate the impact of the adoption of the pension aspects of this proposal by the foreign elements of multi-national corporations.
posted by Michael Bindner at 2:42 PM
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