Social Security

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Social Security, established in 1935, is the federal government’s largest program. It represents approximately one-fifth of the federal budget and provides retirement, disability and survivors' benefits to over 50 million Americans. Retirement benefits are distributed in amounts based on lifetime earnings.

The system is funded by a payroll tax of 12.4 percent up to a maximum amount of income ($106,800 in 2010). Half of the tax is paid by employers and half by employees. Nearly all wage-earners in the country pay Social Security taxes, with most of them paying more in Social Security taxes than they do in federal income taxes.

The Concord Coalition's Series on Social Security Reform

1. Reform Should Not Wait For a Crisis
2. Trust Funds Mask the Problem
3. A "One Percent" Tax Increase Will Not Fix the Problem
4. How Should We View the Problem?
5. A Real Fix Requires An Increase in National Saving
6. There is No Free Lunch
7. Automatic Cost Growth Drives the Problem
8. Private Accounts: Should They Be Voluntary or Mandatory?
9. Raising the Social Security Taxable Earnings Cap: Real Reform or Another Placebo?

Social Security Statement

Testimony of Robert Bixby to the Senate Committee on Aging: "The Future of Social Security"

The Great Social Security Debate

In 1998, The Concord Coalition worked with AARP and The Clinton Administration to conduct a series of public forums about the future of Social Security. The transcripts still provide an illuminating look at the issue through a healthy bi-partisan conversation among experts, policymakers and citizens.

Transcripts of "The Great Social Security Debate" Forums