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Net Marginal Social Security Tax Rates Over the Life Cycle

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  • Cushing, Matthew J.

Abstract

This paper estimates net marginal Social Security tax rates, by age, for the cohorts of workers covered by Social Security in 2000, 2010, 2020 and 2030. The paper updates and extends Feldstein and Samwick's (1992) study. In contrast to their study, which found net tax rates much higher for young workers relative to older workers in 1990, this paper finds net tax rates to be relatively uniform across age groups. This paper's inclusion of the Disability Insurance program, the projected decline in future mortality rates, and the continued phase–in of higher retirement ages accounts for our sharply differing conclusions.

Suggested Citation

  • Cushing, Matthew J., 2005. "Net Marginal Social Security Tax Rates Over the Life Cycle," National Tax Journal, National Tax Association;National Tax Journal, vol. 58(2), pages 227-245, June.
    • Handle: RePEc:ntj:journl:v:58:y:2005:i:2:p:227-45
    DOI: 10.17310/ntj.2005.2.04
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    Cited by:

    1. Liebman, Jeffrey B. & Luttmer, Erzo F.P. & Seif, David G., 2009. "Labor supply responses to marginal Social Security benefits: Evidence from discontinuities," Journal of Public Economics, Elsevier, vol. 93(11-12), pages 1208-1223, December.
    2. Gopi Shah Goda & John B. Shoven & Sita Nataraj Slavov, 2011. "Implicit Taxes on Work from Social Security and Medicare," Tax Policy and the Economy, University of Chicago Press, vol. 25(1), pages 69-88.
    3. Goda, Gopi Shah & Shoven, John B. & Slavov, Sita Nataraj, 2019. "Work incentives in the Social Security Disability benefit formula," Journal of Pension Economics and Finance, Cambridge University Press, vol. 18(2), pages 165-189, April.
    4. Lawson, Nicholas, 2015. "Social program substitution and optimal policy," Labour Economics, Elsevier, vol. 37(C), pages 13-27.
    5. Francisco Alvarez‐Cuadrado & Mayssun El‐Attar Vilalta, 2018. "Income Inequality and Saving," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 80(6), pages 1029-1061, December.
    6. John Geanakoplos & Stephen P. Zeldes, 2009. "Reforming Social Security with Progressive Personal Accounts," NBER Chapters, in: Social Security Policy in a Changing Environment, pages 73-121, National Bureau of Economic Research, Inc.
    7. Nicholas Lawson, 2017. "Fiscal Externalities and Optimal Unemployment Insurance," American Economic Journal: Economic Policy, American Economic Association, vol. 9(4), pages 281-312, November.
    8. Gopi Shah Goda, 2007. "Implicit Social Security Tax Rates over the Life Cycle," Discussion Papers 06-021, Stanford Institute for Economic Policy Research.

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