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Social Security

Maya MacGuineas in Conde Nast Portfolio | 'The Problem with Paulson'

May 12, 2008

Full article

. . .Paulson did help promulgate reports about the nation’s fiscal woes and tried to revive interest in Bush’s moribund Social Security plan. “He worked with all the stakeholders,” says Maya MacGuineas, president of the Committee for a Responsible Federal Budget. “He talked to everyone.” . . .

Direct Deposit: Fix it Carefully

April 22, 2008

Direct deposit of wages and benefits is one of the great financial innovations of the last 30 years. It saves employers and benefits providers millions of dollars in both the purely administrative costs of writing checks and the hassle of replacing checks that are lost or stolen; it provides workers and benefits recipients with quick, safe and reliable access to their funds; it encourages those who are unbanked to move into the financial services mainstream; and, when the payors use their market power to cut good deals, it can mean higher quality financial services at lower prices for lower-income recipients.

Total Tax Credit

  • By
  • Michael Lind,
  • New America Foundation

The Social Security payroll tax hurts working Americans -- and it’s getting worse. Because the tax (a flat levy of 15.3 percent, combining the nominal employer portion with the nominal employee portion) applies to income only up to $97,500 (with a scheduled increase to $102,000 this year), it is inherently, grossly regressive, falling far more heavily on working Americans than on the rich. At the same time, as a result of rising pre-tax wage inequality, the payroll tax system is growing dramatically more regressive.

America Still Works

  • By
  • Michael Lind,
  • New America Foundation
February 1, 2008 |

Anyone who reads the serious press about the condition of the US might be excused for believing that the country is headed towards a series of deep crises. This impression is exacerbated by economic slowdown and by the presidential primaries, in which candidates announce bold plans to rescue the country from disaster. But even in more normal times there are three ubiquitous myths about America that make the country seem weaker and more chaotic than it really is. The first myth, which is mainly a conservative one, is that racial and ethnic rivalries are tearing America apart.

Investor's Business Daily Quotes Maya MacGuineas on Saving Social Security

September 27, 2007

In recent weeks, presidential candidate Sen. Hillary Clinton discussed her approach to saving Social Security. Maya MacGuineas, Director of the Fiscal Policy Program at New America, comments on the issue of Social Security:

"No one could argue that a return to fiscal discipline isn't a step in the right direction, but that alone isn't sufficient" to restore solvency to Social Security, said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

Committee for a Responsible Federal Budget Annual Conference

Tuesday, March 13, 2007 - 4:00pm

The Committee for a Responsible Federal Budget's 2007 board meeting, conference and dinner discussion were held March 13 at the Hyatt Regency on Capitol Hill. This event brought together many of the nation's foremost fiscal policy experts from both parties to discuss the budgetary challenges facing the nation, and the prospects for addressing them before they turn into full-blown crises.

Big Government Could Fatten Up More

  • By
  • James Pinkerton,
  • New America Foundation
January 18, 2007 |

How big should the federal government be? Most people probably would say it’s about the right size. But what if you knew that forces -- indeed plans -- were in motion to make Uncle Sam’s bite on the economy almost twice what it is now?

The government spent about $2.7 trillion in 2006. That’s a lot of money, of course, but the gross domestic product (GDP) is around $13.3 trillion, and so it’s a manageable figure. Indeed, federal spending, which hovers at 20 percent of GDP, has been remarkably stable as a share of the economy, through war and peace, in the past half century.

There Goes the Rug

  • By
  • Jacob Hacker,
  • New America Foundation
January 15, 2006 |

The announcement by IBM that it would freeze its traditional pension plan, shifting all workers into 401(k) plans by 2008, passed through the news cycle with nary a ripple. It was, after all, the latest in a string of increasingly desperate attempts by companies as diverse as GM, United and Verizon to get out from under mounting pension and healthcare burdens.

Nonpartisan Social Security Reform Plan

  • By
  • Maya MacGuineas,
  • New America Foundation
  • and Jeffrey Liebman, Andrew Samwick
December 14, 2005

The three of us -- former aides to President Clinton, Senator McCain, and President Bush -- did an experiment to see if we could develop a reform plan that we could all support. The Liebman-MacGuineas-Samwick (LMS) plan demonstrates the types of compromises that can help policy makers from across the political spectrum agree on a Social Security reform plan. The plan achieves sustainable solvency through progressive changes to taxes and benefits, introduces mandatory personal accounts, and specifies important details that are often left unaddressed in other reform plans.

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