Progressive Price Indexing for Social Security: What It Is, What It Isn’t
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President Bush has endorsed a proposal to slow the growth in future Social Security benefits for middle‐ and upper‐income retirees by changing the benefit formula from wage indexing to price indexing. Critics charge that such a change will weaken Social Security’s foundations while hitting the middle class hardest. Supporters claim it is a fair way to bring Social Security’s promised benefits in line with what can actually be paid. Join us as Robert Pozen, author of the progressive price‐indexing concept, and two other experts discuss the impact of this proposal.