Is Social Security a form of progressive wealth redistribution?
If you’re familiar with Social Security’s formula for computing benefits, you’re aware that it is weighted to provide proportionately higher replacement income to those with a lower lifetime average income. Conversely, those with a higher lifetime average income see a proportionately lower percentage of their working income replaced. But, does that alone mean that the program is progressive? Or do other mitigating factors provide more balance? In this article by Russ Wiles of the Arizona Republic appearing in AZCentral.com, the author examines whether Social Security is truly a progressive program which redistributes wealth, or a more balanced program which is good for all. Click here to read more.
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