Social Security Reform

Social Security Reform

This simulation needs to be conducted in its entirety as it is an integrated experience.

Users are introduced to the Social Security program. They are told about the shortfall and how if it is not addressed there will be a reduction in Social Security benefits. Users then evaluate options for reducing the shortfall.  In addition they consider options for raising benefits for some populations and for changing the way that cost of living adjustments (COLAs) are made.

In the end they make their final recommendations in an integrated spread sheet, getting instant feedback about the impact of their choices on the Social Security shortfall. (Results shown below are for the final recommendations)

Addressing the Shortfall	Results
Whether to lower monthly benefits for those in the upper 20%, 40%, or 50% of earners	National and by Party ID
Whether to raise the retirement age to 68, 69, or 70	National and by Party ID
Whether to raise or eliminate the cap on income subject to the payroll tax	National and by Party ID
Whether to raise the payroll tax rate to 6.5%, 6.9%, or 7.2%	National and by Party ID

 

Raising Benefits for Specific Populations	Results
Whether to raise the minimum monthly benefit for those who have worked 30 years	National and by Party ID
Whether to raise the benefits for the very old	National and by Party ID
Calculating COLAs	Results
Whether to base COLAs on the chained CPI, the inflation rate for items that elderly people tend to buy, or the current CPI	National and by Party ID

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ABOUT THE SURVEY