Social Security, Tax Cuts, and the Future of Retirement with Andrew Biggs

State and Local Government |
By Susan Pendergrass | Read Time 2 minutes minutes

In this episode, Susan Pendergrass speaks with Andrew G. Biggs, senior fellow at the American Enterprise Institute (AEI), about the current state and future of Social Security. They discuss the dangers of a proposed temporary elimination of taxes on Social Security benefits, which could harm the program’s finances and incentivize early retirement, an outcome that could undercut long-term retirement security. Biggs explains that this move would offset one of the greatest contributors to the success of America’s retirement system and worsen the funding gaps of Social Security. They also cover concerns about the sustainability of the program, the shift from pensions to 401(k) plans, and the need for sound public policy to address these challenges.

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Check out Dr. Biggs’ Substack, Little-Known Facts, here: littleknownfacts.substack.com/

And his new book, The Real Retirement Crisis: Why (Almost) Everything You Know About the US Retirement System Is Wrong, here: www.aei.org/research-products/b…-retirement-crisis/

Timestamps:

00:00 Introduction to Social Security and Its Importance
01:57 Understanding Social Security’s Financial Future
04:31 Taxation of Social Security Benefits
08:11 The Shift from Pensions to 401(k)s
10:04 Proposals for Tax Cuts and Their Implications
15:51 The Impact of Temporary Tax Cuts on Retirement
17:43 The Future of Social Security and Policy Challenges

Produced by Show-Me Opportunity

About the Author

Before joining the Show-Me Institute, Susan Pendergrass was Vice President of Research and Evaluation for the National Alliance for Public Charter Schools, where she oversaw data collection and analysis and carried out a rigorous research program. Susan earned a Bachelor of Science degree in Business, with a concentration in Finance, at the University of Colorado in 1983. She earned her Masters in Business Administration at George Washington University, with a concentration in Finance (1992) and a doctorate in public policy from George Mason University, with a concentration in social policy (2002). Susan began researching charter schools with her dissertation on the competitive effects of Massachusetts charter schools. Since then, she has conducted numerous studies on the fiscal impact of school choice legislation. Susan has also taught quantitative methods courses at the Paul H. Nitze School for Advanced International Studies, at Johns Hopkins University, and at the School of Public Policy at George Mason University. Prior to coming to the National Alliance, Susan was a senior policy advisor at the U.S. Department of Education during the Bush administration and a senior research scientist at the National Center for Education Statistics during the Obama administration.

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