The Effects of Generational Accounting on the Future of This Generation's Social Security Pension: A Proposal Essay by Top Papers

The Effects of Generational Accounting on the Future of This Generation's Social Security Pension: A Proposal
A simple way of defining generational accounting is as follows: it entails "(assessing) the distributional implications of fiscal policy for different cohorts (via) estimating the present value of net tax payments (taxes paid less benefits received) ...
# 137945 | 1,250 words | 5 sources | MLA | 2008 | US
Published on Dec 01, 2008 in Psychology (Social) , Political Science (Social Security and Welfare)


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A simple way of defining generational accounting is as follows: it entails "(assessing) the distributional implications of fiscal policy for different cohorts (via) estimating the present value of net tax payments (taxes paid less benefits received) over the lifetime of different generations under current tax and spending policies" (Organization for Economic Cooperation and Development, para.1). Thus, generational accounting essentially provides us with a glimpse of what some generations are putting into the system - and what they are getting back out of the system. In light of this, generational accounting is a wonderful tool for capturing what the future holds for America's social security benefits program; in short, what will happen to today's young people 30 or 40 years hence when they start to retire and start looking around for their own monthly pension? In particular, will those benefits that they have paid into for so many years still be there - or will they be long gone or greatly diminished because of the stresses produced by an aging society? This writer's contention is that the great impact of generational accounting upon this generation's prospective social security pension plan is that it will expose the looming "train-wreck" that awaits; at the same time, it affords us the opportunity to make the needed changes to entitlements (and to social policy) that may ward off disaster.

From the Paper:

The Effects of Generational Accounting on the Future of This Generation's Social Security Pension: A Proposal Introduction A simple way of defining generational accounting is as follows: it entails "(assessing) the distributional implications of fiscal policy for different cohorts (via) estimating the present value of net tax payments (taxes paid less benefits received) over the lifetime of different generations under current tax and spending policies" (Organization for Economic Cooperation and Development, para.1). Thus, generational accounting essentially provides us with a glimpse of what some generations

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