Word list

1. accumulate the tax dollars

2. actuarial value

3. adverse consequence

4. affect the economy

5. after-tax earnings

6. after-tax income

7. aggregate value of the social security wealth

8. assets

9. at the expense of

10. be entitled

11. benefits are inflation indexed

12. benefits of retirees

13. benign

14. bolster capital accumulation

15. boost the rate of capital formation

16. breadwinner

17. by the most inclusive traditional measure

18. capital accumulation

19. capital formation

20. capital gains

21. capital stock

22. changing demographic makeup

23. combined assets

24. compulsory saving

25. contribution to total family income

26. corporate income

27. cut back retirement saving in anticipation of government benefits

28. cut benefits of the retired or those near retirement

29. cut the real capital stock

30. demographic structure

31. dependence on social security

32. earn a high rate of return on the taxes

33. economic consequences

34. efficiency

35. exacerbate the problem of capital scarcity

36. exert a substantial impact on the economy

37. explicit integration of private pensions and social security

38. fall in proportion to social security benefits

39. federal credit rationing

40. finance on a pay-as-you-go basis

41. full pension benefits

42. government controls over the capital markets

43. grow indefinitely in proportion to income

44. growth rate of old age benefits

45. income level

46. increase in the tax rate is clearly not in the offing!

47. inflow of foreign funds

48. join a private pension plan

49. keep a "petty cash" fund

50. lack of domestic saving

51. lifetime contributions

52. long-run consequences of a reduced rate of capital formation

53. maintain the status quo

54. mature pay-as-you-go program

55. maturity of the program

56. maximum taxable income

57. middle- and low-income workers

58. nation's rate of saving

59. net worth of the private sector

60. offset

61. Old Age and Survivors Insurance (OASI) program

62. patch over the financial problems

63. pay out immediately as benefits

64. pay-as-you-go nature

65. payments are untaxed

66. payroll tax on earnings

67. peak before-tax earnings

68. pension benefits

69. pension integration methods

70. politically feasible

71. press for more private options

72. private options

73. private saving

74. productive years

75. productivity

76. put this figure into perspective

77. raise the age of eligibility for

78. rate of benefit growth

79. rate of return

80. real value

81. real wages

82. reap an lower rate of return

83. receive widespread public attention

84. reduce saving

85. reject some liberal goals

86. reliance on individual saving and private pensions

87. replace private saving on a dollar-for-dollar basis

88. replacement rate

89. revenue finance

90. scarcity of capital

91. severe financial problems

92. shift from social security to private saving

93. significant incentive to save

94. Social Security

95. social security benefits

96. social security system

97. social security tax collections

98. social security tax payments

99. social security tax rate

100.social security wealth

101.social security wealth

102.stand in sharp contrast to

103.stem from reduced saving

104.step up capital formation

105.subsidies

106.substitute for other forms of accumulated assets

107.substitute social security pensions for real capital accumulation

108.tangible asset

109.tax burden

110.tax cuts

111.tax incentives

112.taxable earnings

113.transfer program

114.trim saving

115.under existing legislation

116.underscore the potential importance of the federal program

117.yield an average 12% return

118.yield on private pensions