CAS EC 102 Lecture Notes - Dependency Ratio, Social Security Trust Fund, Paul Samuelson

• School: Boston University
• Department: Economics
• Course: CAS EC 102
• Professor: Jay Zagorsky

Document Summary

Syria article efforts to ease siege in syria. A federal pension program financed by taxes on worker"s pay. Currently 15. 3% of your pay 12. 4% to pension programs and 2. 9% to retiree health program called medicare) Tax only applies on income up to ,700. Recipients were paid billion in a year. Population is a key issue because for many economic and business variables it is not the total amount that matters, but instead the amount per person. 55 million people get checks each year from the retirement portion of the program. 80% of people getting checks are retired workers. 20% of people are spouses, children of dead retirees. Social security is more than 1/5th of us gov"t spending. In us, a person expects to live 76/81. Us is a country that focuses on spending not savings. The survey of consumer finances shows about 44% of all families did not save in the past year.