REPORT Economic GrowthHealth and Social Programs

Defaulting on the Social Security Trust Fund Bonds: Winners and Losers

July 2001, Dean Baker

The report provides an approximation of the redistribution that would result from the U.S. government’s decision to default on the Social Security trust fund. Since such a default implies replacing progressive income taxes with a very regressive payroll tax, it leads to a substantial upward redistribution of income.

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