A New Deal for Old Age: Toward a Progressive Retirement
By: Anne L. Alstott (author)Hardback
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Rising inequality has undermined one of America's proudest achievements: Social Security. Unprecedented changes in longevity, marriage, and the workplace have made the experience of old age increasingly unequal. Educated Americans typically do not face serious impediments to employment or health until their mid-70s or even later. By contrast, many uneducated earners confront obstacles of early disability, limited job opportunities, and unemployment before they reach 65. America's system for managing retirement is out of step with these realities. Social Security reflects a time at mid-century when most workers were men, held steady jobs until 65, and remained married for life. Social Security promised a dignified old age for rich and poor alike, but today that egalitarian promise is failing. Anne L. Alstott makes the case for a progressive program that would permit all Americans to retire between 62 and 76 but would provide generous early retirement benefits for workers with low wages or physically demanding jobs. She also proposes a more equitable spousal benefit and a new phased-retirement option to permit workers to transition out of the workforce gradually.
A New Deal for Old Age offers a pragmatic and principled agenda for renewing America's most successful and popular social welfare program.
Anne L. Alstott is Jacquin D. Bierman Professor in Taxation at Yale Law School.
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- ID: 9780674088757
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