Fact Sheet Social Security and Medicare Taxes and Benefits over a Lifetime
Subtitle
2013 Update
C. Eugene Steuerle, Caleb Quakenbush
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These tables update to 2013 previous estimates of the lifetime value of Social Security and Medicare benefits and taxes for typical workers in different generations at various earning levels based on new estimates of the Social Security Actuary. The "lifetime value of taxes" is based upon the value of accumulated taxes, as if those taxes were put into an account that earned a 2 percent real rate of return (that is, 2 percent plus inflation). The "lifetime value of benefits" represents the amount needed in an account (also earning a 2 percent real interest rate) to pay for those benefits. All amounts are presented in constant 2013 dollars.
Research Areas Economic mobility and inequality Aging and retirement Taxes and budgets
Tags Social Security Pensions Individual taxes Income and wealth distribution Retirement policy