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Spending on social security (most programs, minus food stamps...I think) is in the neighbourhood of $930 billion. Right now, that's delivered to 65 million peop
by katedye 10y ago
Spending on social security (most programs, minus food stamps...I think) is in the neighbourhood of $930 billion. Right now, that's delivered to 65 million people. Of 330 million people total, ~80% are over 21. And it would be safe to assume 50% would qualify (because 1 in three households make between 50k-100k and 1 in four make less than 24k).
That leaves 132 million people drawing from $930 billion, which means everyone gets $7153. For everyone to get $13,000, 71 million people would be allowed to qualify.
This doesn't take into account the taper at all, so it could be stretched to reach more people. But even if 60 million people receive 13k, which leaves ~2.5k for another 60 million, that's still less than 132 million and doesn't align with the author's 6.5k number.
All this is to say: I find the idea appealing because it reduces the cost of bureaucracy and creates autonomy, but I'm not sure if it's feasible.
Sources:
https://www.ssa.gov/finance/2015/Overview%20SSA.pdf https://www.ssa.gov/finance/2015/Overview%20SSA.pdf
https://www.ssa.gov/policy/docs/quickfacts/prog_highlights/index.html https://www.ssa.gov/policy/docs/quickfacts/prog_highlights/i...
http://www.npr.org/sections/money/2012/07/16/156688596/what-americans-earn http://www.npr.org/sections/money/2012/07/16/156688596/what-...
https://en.wikipedia.org/wiki/Social_programs_in_the_United_States#Costs https://en.wikipedia.org/wiki/Social_programs_in_the_United_...