SOCIAL SECURITY ADMINISTRATION & HOW the QUEEN of ENGLAND OWNS SOCIAL SECURITY & the VATICAN BELIEVES THEY RULE the WORLD USING US AS SLAVES (Which Is All a Lie)

Total Page:16

File Type:pdf, Size:1020Kb

SOCIAL SECURITY ADMINISTRATION & HOW the QUEEN of ENGLAND OWNS SOCIAL SECURITY & the VATICAN BELIEVES THEY RULE the WORLD USING US AS SLAVES (Which Is All a Lie) SOCIAL SECURITY ADMINISTRATION & HOW THE QUEEN OF ENGLAND OWNS SOCIAL SECURITY & THE VATICAN BELIEVES THEY RULE THE WORLD USING US AS SLAVES (which is all a lie) WOODLAWN ( SEE MOVIE LIVE FREE OR DIE HARD, BRUCE WILLIS 2009) Social Security Administration - Wikipedia, the free encyclopedia One part of SSA headquarters in Woodlawn, Maryland. Another view of SSA headquarters. The United States Social Security Administration (SSA) is an ... en.wikipedia.org/wiki/Social_Security... - Cached - Similar About Us - The United States Social Security Administration Information about the Social Security Administration. Mission Statement. Deliver Social Security services that meet the changing needs of the public. ... www.ssa.gov/aboutus/ - Cached - Similar Social Security Administration Headquarters Social Security Administration Headquarters http://www.ssa.gov ... wikimapia.org/2184/Social-Security-Ad... - Cached - Similar SOCIAL SECURITY ADMINISTRATION HEADQUARTERS OFFICE - WOODLAWN ... SOCIAL SECURITY ADMINISTRATION HEADQUARTERS OFFICE - WOODLAWN, MARYLAND. POSITION IS OPEN TO: FEDERAL EMPLOYEES NATIONWIDE, VEDA, ICTAP, AND CTAP ELIGIBLES ... intranet.ncmahq.org/bethesdamedical/L... - Cached - Similar Social Security Administration - District Headquarters - 211 ... Name: Social Security Administration - District Headquarters. Parent Agency: Social Security Administration. Address: 2100 M Street, NW , , Washington , DC ... app.answersplease.dc.gov/services/res... - Cached - Similar Regional Headquarters The headquarters of the New York Region of the Social Security Administration is located in lower Manhattan in the Jacob Javits ... www.ssa.gov/ny/services-regional.htm - Cached - Similar Social Security Administration - Headquarters A selection of articles related to Social Security Administration - Headquarters SOCIAL SECURITY ADMINISTRATION & HOW THE QUEEN OF ENGLAND OWNS SOCIAL SECURITY & THE VATICAN BELIEVES THEY RULE THE WORLD USING US AS SLAVES 1 of 50 . www.experiencefestival.com/social_sec... - Cached - Similar Social Security Administration - Company Profile | LinkedIn This is the limited version of the Social Security Administration company ... Social Security Administration Headquarters Address. 6401 Security Blvd ... www.linkedin.com/companies/ssa - Cached - Similar Social Security Administration Jobs, Employment in Woodlawn, MD ... Millions of Americans depend on the Social Security Administration (SSA) for their ... forums: HR Specialist - Social Security Administration - Woodlawn, Maryland ... View all DHS Headquarters jobs in Washington, DC - Washington jobs ... www.indeed.com/q-Social-Security-Admi... - Cached - Similar Social Security Administration Headquarters - Essex-Middle River ... The United States Social Security Administration (SSA) is an independent agency of the United States federal government that administers Social Security, ... essex.patch.com/listings/social-secur... - Cached - Similar Searches related to: social security administration + headquarters social security administration headquarters social security administration address ssa Social Security Administration Official seal Agency overview Formed August 14, 1935 Federal government of the United Jurisdiction States Headquarters Woodlawn, Maryland Employees 62,000 Annual budget $657.3 billion (FY 2008)[1] Agency executives Michael J. Astrue, Commissioner SOCIAL SECURITY ADMINISTRATION & HOW THE QUEEN OF ENGLAND OWNS SOCIAL SECURITY & THE VATICAN BELIEVES THEY RULE THE WORLD USING US AS SLAVES 2 of 50 Vacant, Deputy Commissioner Website www.ssa.gov One part of SSA headquarters in Woodlawn, Maryland Another view of SSA headquarters Social Security Administration From Wikipedia, the free encyclopedia http://en.wikipedia.org/wiki/Social_Security_Administration The United States Social Security Administration (SSA)[2] is an independent agency of the United States federal government that administers Social Security, a social insurance program consisting of retirement, disability, and survivors' benefits. To qualify for these benefits, most American workers pay Social Security taxes on their earnings; future benefits are based on the employees' contributions. The Social Security Administration was established by a law currently codified at 42 U.S.C. § 901 . Its commissioner, Michael J. Astrue, was sworn in on February 12, 2007 for a six-year term. SSA is headquartered in Woodlawn, Maryland, just to the west of Baltimore, at what is known as Central Office. The agency includes 10 regional offices, 8 processing centers, approximately 1300 field offices, and 37 Teleservice Centers. As of 2007[update], about 62,000 people were employed by the SSA.[3] Social Security is currently the largest social welfare program in the U.S., constituting 37% of government expenditure and 7% of GDP.[4] SOCIAL SECURITY ADMINISTRATION & HOW THE QUEEN OF ENGLAND OWNS SOCIAL SECURITY & THE VATICAN BELIEVES THEY RULE THE WORLD USING US AS SLAVES 3 of 50 Contents • 1 History • 1.1 Leaders • 1.1.1 Chairmen of Social Security Board • 2 Headquarters • 3 Coverage • 3.1 Old Age, Survivors and Disability • 3.2 Supplemental Security Income (SSI) • 3.3 Medicare • 4 Operations • 4.1 Automation • 4.2 Adjudication • 5 Criticism and controversy • 6 Baby name popularity report • 7 See also • 8 References • 9 External links • 10 Further reading [edit] History The Social Security Act created a Social Security Board (SSB),[5] to oversee the administration of the new program. It was created as part of President Franklin D. Roosevelt's New Deal with the signing of Social Security Act of 1935, August 14, 1935.[6] The Board consisted of three presidentially appointed executives, and started with no budget, no staff, and no furniture. It obtained a temporary budget from the Federal Emergency Relief Administration headed by Harry Hopkins.[5] The first Social Security office opened in Austin, Texas, on October 14, 1936. Social Security taxes were collected first in January 1937, along with the first one-time, lump-sum payments.[6] The first person to receive a Social Security benefit was Ernest Ackerman, who was paid 17 cents in January 1937. This was a one-time, lump-sum pay-out, which was the only form of benefits paid during the start-up period January 1937 through December 1939. The first person to receive monthly retirement benefits was Ida May Fuller of Brattleboro, Vermont. Her first check, dated January 31, 1940 was in the amount of US$22.54.[7] In 1939, the Social Security Board merged into a cabinet-level Federal Security Agency, which included the SSB, the U.S. Public Health Service, the Civilian Conservation Corps, and other agencies.[8] In January 1940, the first regular ongoing monthly benefits were begun.[6] In 1946, the SSB was renamed the Social Security Administration under President Harry S. Truman's Reorganization Plan. In 1972, Cost of Living Adjustments (COLAs) were introduced into SSA programs to deal with the effects of inflation on fixed incomes. SOCIAL SECURITY ADMINISTRATION & HOW THE QUEEN OF ENGLAND OWNS SOCIAL SECURITY & THE VATICAN BELIEVES THEY RULE THE WORLD USING US AS SLAVES 4 of 50 In 1953, the Federal Security Agency was abolished and the SSA was placed under the Department of Health, Education, and Welfare. HEW became the Department of Health and Human Services in 1980. In 1994, President Bill Clinton signed into law 42 U.S.C. § 901 returning the SSA to the status of an independent agency in the executive branch of government. [edit] Leaders [edit] Chairmen of Social Security Board • J ohn G. Winant (1935–1937) • A rthur J. Altmeyer (1937–1956) • Robert M. Ball (1962–1973) [edit] Headquarters The SSA is one of the few Federal agencies to have its headquarters outside of Washington, D.C. It was located in Baltimore initially due to the need for a building that was capable of holding the unprecedented amount of paper records that would be needed. Nothing suitable was available in Washington in 1936, so the Social Security Board selected the Candler Building on Baltimore's harbor as a temporary location. Soon after locating there, construction began on a permanent building for SSA in Washington that would meet their requirements for record storage capacity. However, by the time the new building was completed, World War II had started, and the building was commandeered by the War Department. By the time the war ended, it was judged too disruptive to relocate the agency to Washington. The Agency remained in the Candler Building until 1960, when it relocated to its newly built headquarters in Woodlawn. The road on which the headquarters is located, built especially for the SSA, is named Security Boulevard (Route 122) and has since become one of the major arteries connecting Baltimore with its western suburbs. Security Blvd. is also the name of SSA's exit from the nearby Baltimore Beltway (Interstate 695). A nearby shopping center has been named Security Square Mall, and Woodlawn is often referred to informally as "Security." Interstate 70, which runs for thousands of miles from Utah to Maryland, terminates in a Park and Ride lot that adjoins the SSA campus. Due to space constraints and ongoing renovations, many headquarters employees work in leased space throughout the Woodlawn area. [edit] Coverage The SSA's coverage under the Social Security program originally covered nearly all non-government workers in the continental U.S. and the territories of Alaska, Hawaii, Guam and the Commonwealth of the Northern Marianas Islands below the age of 65. All workers in interstate
Recommended publications
  • The Future of Social Security
    TJSL Legal Studies Research Paper No. 904404 October 2006 Full Funding: The Future of Social Security 22 Journal of Law and Politics 395 (2006) by Benjamin A. Templin Copyright © Benjamin A. Templin and Journal of Law and Politics This paper may be downloaded without charge from the Social Science Research Network Electronic Paper Collection. See <http://ssrn.com/abstract=904404>. Electronic copy available at: http://ssrn.com/abstract=904404 Full Funding: The Future of Social Security Benjamin A. Templin1 I. INTRODUCTION The future of Social Security is anything but secure. Actuaries and economists predict that incoming revenues will be insufficient to pay benefits by 2017 and that the Social Security Trust Fund reserves will be exhausted by 2041. 2 Yet Social Security remains the most important government program designed to prevent poverty among elderly citizens.3 If it were not for Social Security benefits, fifty percent of elderly beneficiaries would be living below the poverty line. 4 Unfortunately, Social Security reform is stuck in a political gridlock.5 After five years of debate, President Bush’s proposal for private accounts6 has been tabled in 1 Assistant Professor, Thomas Jefferson School of Law. B.A. 1981, Grinnell College; J.D. 1998, University of California, Berkeley Boalt Hall School of Law. For their valuable assistance, the author wishes to thank Kathryn Moore, Howell Jackson, Patricia Dilley, Ellen Waldman, Richard Winchester, Julie Greenberg, Marjorie Cohn, Eric Mitnick, Jerry Heavey at Smith Barney, Kaimipono Wenger, Linda Keller, Claire Wright, Deven Desai, Anders Kaye, Sandra Rierson, Jason Boyer, Jennifer Pawlowski, Amanda Moceri, David Fortner, Dorothy Hampton, June MacLeod, and Norma Dunn.
    [Show full text]
  • A Summary of Saving Social Security: a Balanced Approach Peter A
    A Summary of Saving Social Security: A Balanced Approach Peter A. Diamond and Peter R. Orszag1 Social Security is one of America’s most successful government programs. It has helped millions of Americans avoid poverty in old age, upon becoming disabled, or after the death of a family wage earner. As President Bush has emphasized, “Social Security is one of the greatest achievements of the American government, and one of the deepest commitments to the American people.”2 Despite its successes, however, the program faces two principal problems. First, Social Security faces a long-term deficit, even though it is currently running short-term cash surpluses. Addressing the long-term deficit would put both the program itself and the nation’s budget on a sounder footing. Second, there is broad agreement that benefits should be increased for some particularly needy groups – such as those who have worked at low pay over long careers and widows and widowers with low benefits. The history of Social Security is one of steady adaptation to evolving issues, and it is time to adapt the program once again. Restoring long-term balance to Social Security is necessary, but it is not necessary to destroy the program in order to save it. Social Security’s projected financial difficulties are real and addressing those difficulties sooner rather than later would make sensible reforms easier and more likely. The prospects are not so dire, however, as to require undercutting the basic structure of the system. In other words, our purpose is to save Social Security both from its financial problems and from some of its “reformers.” In this paper we review the financial position of Social Security, present a plan for saving it, and discuss why Social Security revenue should not be diverted into individual accounts.
    [Show full text]
  • Social Security Reform: Fundamental Restructuring Or Incremental Change?
    Cite as 11 LEWIS & CLARK L. REV. 341 (2007). Available at http://law.lclark.edu/org/lclr/ SOCIAL SECURITY REFORM: FUNDAMENTAL RESTRUCTURING OR INCREMENTAL CHANGE? by Kathryn L. Moore* In light of Social Security’s long-term deficit, reform of the system appears inevitable. Commentators and policymakers have offered a wide range of possible reforms. This Article describes and analyzes five possible types of reform: (1) individual accounts, (2) progressive price indexing, (3) general revenue and/or estate tax revenue financing, (4) increasing the maximum taxable wage base, and (5) increasing the normal retirement. The Article opposes the first two proposed changes, individual accounts and progressive price indexing, because they would fundamentally restructure the current system. The Article recommends that Social Security’s financing difficulties be addressed by a combination of estate tax revenue financing, a higher taxable wage base, and a higher normal retirement age. A combination of these three reforms would retain the current structure of the system and distribute the costs of reform so that no single class of participants or beneficiaries would bear the entire brunt of reform. I. INTRODUCTION.....................................................................................342 II. INDIVIDUAL ACCOUNTS.....................................................................344 A. The Proposals....................................................................................344 B. How Individual Accounts Would Fundamentally Transform
    [Show full text]
  • Sustainability of Public Debt in the United States and Japan1
    1 Sustainability of Public Debt in the United States and Japan1 William R. Cline Peterson Institute for International Economics Introduction This paper applies the European Debt Simulation Model (EDSM) developed in Cline (2014) to the cases of the United States and Japan. The objective of the EDSM (which for present purposes may be generalized to Sovereign rather than European, or SDSM) is to investigate whether public debt is on a path that reflects solvency or insolvency. If debt begins at a moderate level and remains stable or declines relative to GDP in the future, the diagnosis is one of solvency. If instead debt begins already extremely high and spirals ever upward relative to GDP, the diagnosis is one of potential insolvency, even if the government currently has comfortable financial market access. I begin with a review of how the US debt burden reached its current level and a summary of the Congressional Budget Office’s baseline projections through 2024. Next I provide a briefer review of long-term trends in Japanese public debt. I then present an initial summary view of whether the United States and Japan meet a well-known criterion for debt sustainability, involving the size of the non- interest (primary) surplus in comparison with the difference between the interest rate and the growth rate. The paper then describes the SDSM, and then applies it first to the United States and next to Japan. The conclusion draws policy implications. United States Background The stylized facts about US public debt run broadly as follows. Federal debt held by the public, the central concept in US fiscal discussions, was only about 25-30 percent of GDP in the 1970s.
    [Show full text]
  • Mandatory Social Security Coverage of State and Local Workers
    Issue in Brief 1 MANDATORY SOCIAL SECURITY COVER- AGE OF STATE AND LOCAL WORKERS: A PERENNIAL HOT BUTTON By Alicia H. Munnell Introduction AN ISSUE IN BRIEF Some recent proposals to address Social Security’s financing shortfall have included an extension of CENTER FOR coverage to the 5 million uncovered state and local workers. These proposals spark a predictable outcry RETIREMENT from Massachusetts public employees and those in other affected states. This Issue in Brief analyzes the arguments for and against mandating Social Security RESEARCH coverage for newly hired state and local workers.1 The AT BOSTON COLLEGE case against mandatory coverage centers on the issue of higher costs for state and local governments. The case JUNE 2005, NUMBER 32 for coverage rests on issues of equity and better protection for state and local workers. That is, mandatory coverage would better distribute the burden INSIDE of paying for the system’s legacy debt and would improve benefits; it also would raise costs by about 6 INTRODUCTION ...................................... 1 percent of payrolls. BACKGROUND ........................................ 1 Background THE CASE FOR MANDATORY COVERAGE ........ 2 The Social Security Act of 1935 excluded state and local workers from mandatory coverage due to constitutional THE COSTS OF MANDATORY COVERAGE ....... concerns about whether the federal government could 4 impose taxes on state governments. As Congress expanded coverage to new groups of private sector THE IMPACT OF MANDATORY COVERAGE workers, it also passed legislation in the 1950s that ON SOCIAL SECURITY FINANCES ............... 5 allowed states to elect voluntary coverage for their employees. CONCLUSION ......................................... 6 The question of mandatory — as opposed to voluntary — coverage for government workers surfaced ENDNOTES ...........................................
    [Show full text]
  • A Young Person's Guide to Social Security, Third Edition
    A Young Person’s Guide to Social Guide to Security Person’s Young A THIRD EDITION THIRD A Young THE ECONOMIC POLICY INSTITUTE is a nonprofit, nonpartisan think tank that seeks to broaden the public debate about strategies to achieve a prosperous and fair economy. The Institute stresses real world analysis and a concern for the living standards of working people, and it makes Person’s Guide its findings accessible to the general public, the media, and policy makers. EPI’s books, studies, and popular education materials address important economic issues, analyze pressing problems facing the U.S. economy, and propose new policies. Economic Policy Institute books are available in bookstores and at www.epi.org. to Social Security THIRD EDITION THE NATIONAL ACADEMY OF SOCIAL INSURANCE is a non-profit, non-partisan organization made up of the nation’s leading experts on social insurance. Its mission is to advance solutions to challenges facing the nation by increasing public understanding of how social insurance contributes to economic security. National Academy of Social Insurance publications and resources are available online at www.nasi.org. EPI & NASI & EPI Printed on recycled paper using 100% wind power. A Young Person’s Guide to Social Security Kathryn Anne Edwards Anna Turner Alexander Hertel-Fernandez THIRD EDITION • JANUARY 2016 Copyright © 2016 by Economic Policy Institute and the National Academy of Social Insurance This work is licensed under the Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc-sa/3.0/. ISBN: 1-932066-31-5 About the work This curriculum is the result of a collaboration between many people.
    [Show full text]
  • Social Security Reconsidered
    National Tax Journal, June 2011, 64 (2, Part 1), 385–414 SOCIAL SECURITY RECONSIDERED Henry J. Aaron Social Security is currently much in the news because it faces a projected funding gap, because of overall budget defi cits, and because of doubts in some quarters about its design. Minor adjustments are suffi cient to close the funding gap. Benefi t cuts, even if considered desirable, would not help close the overall budget gap in a timely way. Some adjustments in Social Security benefi ts and fi nancing are desirable, but large scale changes would be disruptive and would not well serve the program’s basic purposes — to provide assured, basic income to retirees, the disabled, and survivors — unless they more or less replicated the current program. Keywords: social insurance, social security, aging Jel Codes: H55, H23, J18 ocial Security assures people basic income in defi ned contingencies, providing a Sfl oor to undergird private saving. The program has been remarkably successful in performing these functions. Of families age 65 or over, 64 percent received half or more of their income and 22 percent received all of it from Social Security in 2008. In public opinion polls, Social Security consistently ranks as the most popular government program. Nonetheless, the size and structure of Social Security now generate intense public interest for three reasons: • The Social Security Trust Funds face a projected long-term funding gap. If the trust fund is exhausted and revenues are less than benefi ts at that time, fi nancial rules would require benefi t cuts. A fi nancially-driven benefi t cut has never hap- pened before, but it is projected to occur in 2037 (Board of Trustees, 2010).
    [Show full text]
  • Section 500 - 501 MTL 6/09 1 Sep 09
    DIVISION OF WELFARE AND SUPPORTIVE SERVICES SUPPORT ENFORCEMENT MANUAL Section 500 - 501 MTL 6/09 1 Sep 09 500 SUPPORT OBLIGATIONS 501 OBLIGATION OF PARENTS [NRS 125B.020] A. DUTY OF PARENT TO SUPPORT CHILD The noncustodial parent (NCP) of a child(ren) has a duty to provide necessary maintenance, medical support, education and support including expenses of pregnancy and confinement. This duty applies to children born out of wedlock. 1. Medical Support Obligation [45 CFR 303.30 and 303.31] The enforcing authority must petition the court to include in new and modified support orders private health insurance that is accessible to the child(ren) and available to the responsible parent at a reasonable cost, not to exceed five percent (5%) of the responsible parent’s gross monthly income (GMI). If private health insurance is not available at the time of establishment or modification, the enforcing authority must petition the court to include a cash medical support amount that does not exceed 5% of the NCP’s GMI to be paid to the CST to help offset medical costs that may occur. B. RECOVERY BY PARENT OR OTHER PERSON(S) [NRS 125B.030 and 125B.040] 1. When the parents of a child do not reside together, the physical custodian of the child may recover from the parent without physical custody a reasonable portion of the cost of care, support, education and maintenance provided by the physical custodian. An order for the support of a child creates an obligation for the support of the child and follows the child to the person who has obtained lawful physical custody of the child.
    [Show full text]
  • Unfunded Retirement Liabilities Discussant Comments
    Unfunded Retirement Liabilities Discussant Comments Richard W. Johnson National Tax Association Spring Symposium Washington, DC May 16, 2019 Unfunded Liabilities Beset Many Programs Serving Older Americans . Social Security Retirement (OASI) . State and local retirement benefits . Other programs with dedicated funding . Social Security Disability Insurance . Private pensions (PBGC) . Medicare Hospital Insurance . Retirement benefits for federal workers . Programs without dedicated funding . Medicare Parts B and D . Medicaid 2 How Serious Is the Problem? . Social Security Retirement (OASI) . Social Security trustees project that the trust fund will run out in 2035, after which about three-quarters of scheduled benefits can be paid . 75-year actuarial deficit is 2.67% of taxable payroll . These are the intermediate assumptions; outcomes are worse under high-cost scenario . State and Local Pensions . Difficult to estimate, because there are thousands of plans . Using each plan’s discount rate, Pew estimates $1.4 trillion funding shortfall . Rauh (2017), using a lower discount rate, estimates $3.8 trillion shortfall 3 How Did Unfunded Liabilities Arise? . Promised benefits cost more than anticipated . Life expectancy increased . Health care costs rose . Revenues did not grow as fast as anticipated . Birth rates fell, reducing worker to retiree ratio in Social Security . Poor investment returns . Bad choices . Some S&L plans didn’t make scheduled contributions . Some plans increased benefits when they were flush . Little incentive to make hard choices . Early generations got really good deals: Legacy debt 4 How Should We Finance Unfunded Liabilities? . Cut benefits . Current retirees . Current workers . New generation of workers . Raise revenues . From workers . From taxpayers . Invest in higher return/riskier assets .
    [Show full text]
  • Saving Social Security
    Journal of Economic Perspectives—Volume 19, Number 2—Spring 2005—Pages 11–32 Saving Social Security Peter A. Diamond and Peter R. Orszag or almost 70 years, Social Security has provided retirees with a basic level of income that is protected against inflation, financial market fluctuations and F the risk of outliving one’s assets. It protects against other risks as well, such as disability or the death of a family wage earner. In addition, through its progres- sive structure, Social Security provides some protection against one’s career not turning out well. Social Security plays a critical role in providing financial security during retirement: It provides the majority of income for two-thirds of elderly beneficiaries, and all income for 20 percent of elderly beneficiaries. Over the next 75 years, Social Security costs are projected to rise by about 2.5 percent of Gross Domestic Product (GDP), while revenues are projected to decline slightly as a share of GDP. Social Security’s long-term financial health can be restored through either minor adjustments or major surgery. In our view, major surgery is neither warranted nor desirable—sustainable solvency and improved social insurance can be accomplished by a progressive reform that combines modest benefit reductions and revenue increases (as presented in more detail in Diamond and Orszag, 2004). We begin by describing some benefit improvements for vulnerable groups for which there appears to be wide support, including from the President’s Commis- sion to Strengthen Social Security (2001) appointed by President Bush. We then discuss our proposed benefit and tax changes to close the underlying Social Security deficit and finance these important social insurance improvements.
    [Show full text]
  • Jean Nichole M Balbon.Pdf
    CAPSTONE RESEARCH ADVOCATING SOCIAL POLICY REFORM: UNIVERSAL BASIC LOAN AND US WELFARE SCHEMES Submitted by Jean Balbon School of Interdisciplinary Arts and Sciences In partial fulfillment of the requirements For the Degree of Master of Arts in Policy Studies University of Washington Bothell, WA August 2018 Master’s Committee: Advisor: Dan Jacoby Co-Advisor: Bruce Kochis Balbon 1 Abstract This study reviews the history of US poverty and social policies and analyzes alternative solutions and reforms to current income support systems. It examines welfare schemes that aims to reduce wealth and income inequality and poverty, specifically the use of a Universal Basic Loan (UBL). By conducting both a stakeholder and historical analysis, this paper determines that a UBL structure could be crafted to combine successful elements and eliminate failures of current US social policies. Realizing a Universal Basic Loan (UBL) is therefore the primary policy reform recommendation of this paper. Methodology This research reviews the effectiveness and efficiency of past and current US social policies aimed at reducing wealth and income inequality and poverty. As such, the work depends heavily on secondary resources; however, to achieve greater understanding of context, I performed qualitative research using stakeholder interviews – meeting with professors, bureaucrats, and politicians. As one of the major objectives involves assessment of new alternatives on the current welfare system, I rely heavily on insights, research, and reports from various think-tanks, organizations, and politicians. Balbon 2 “In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of” - Confucius Introduction US welfare policies, which tend to be conditional, restrictive, and selective, are rendered inadequate and inefficient due to adverse selection, information asymmetry, moral hazard, pooling equilibrium, and legacy debt.
    [Show full text]
  • NBER WORKING PAPER SERIES REFORMING SOCIAL SECURITY with PROGRESSIVE PERSONAL ACCOUNTS John Geanakoplos Stephen P. Zeldes Workin
    NBER WORKING PAPER SERIES REFORMING SOCIAL SECURITY WITH PROGRESSIVE PERSONAL ACCOUNTS John Geanakoplos Stephen P. Zeldes Working Paper 13979 http://www.nber.org/papers/w13979 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2008 We thank Ryan Chahrour, Theodore Papageorgiou, and Allison Schrager for research assistance, and Andrew Biggs, Jeffrey Brown, Jason Furman, Jeffrey Liebman, Deborah Lucas, Kent Smetters, and Salvador Valdes-Prieto for helpful comments and suggestions. This research was supported by the U.S. Social Security Administration through grant #10-P-98363-1 to the National Bureau of Economic Research as part of the SSA Retirement Research Consortium. The findings and conclusions expressed are solely those of the authors and do not represent the views of SSA, any agency of the Federal Government, or the NBER. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2008 by John Geanakoplos and Stephen P. Zeldes. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Reforming Social Security with Progressive Personal Accounts John Geanakoplos and Stephen P. Zeldes NBER Working Paper No. 13979 April 2008 JEL No. D91,E6,H55 ABSTRACT The heated debate about how to reform Social Security has come to a standstill because the view of most Democrats (that Social Security must be a defined benefits plan similar in spirit to the current system) seems irreconcilable with the proposals supported by many Republicans (to create a defined contribution system of personal accounts holding marketed assets).
    [Show full text]