SOCIAL SECURITY AND THE RACIAL GAP IN RETIREMENT WEALTH

SUMMARY Racial and ethnic gaps in wealth are substantial and persistent. The wealth of the typical White household in 2013 was 13 times that of the typical Black household and 10 times that of the typical Hispanic household. Over the past three decades, the gap in wealth between Whites and African-Americans has increased, while the […]

Common Property: How Social Insurance Became Confused with Socialism

Uniquely among the world’s rich countries, the United States lacks a comprehensive, universal social insurance system. This is largely due to ideological opposition by Republican Party elites. It took nearly seventy years for Democrats to achieve the expanded, still-less-than-universal coverage provided by the Affordable Care Act—against unanimous Republican opposition. Republicans have continued to sabotage the […]

A Tale of Two Retirements: The Great Divide Between CEOs and Everyone Else

The Institute for Policy Studies (IPS) earlier this month released its second annual report on the CEO-worker retirement benefit gap. A Tale of Two Retirements analyzes how CEOs are provided with colossal nest eggs– monthly retirement checks ranging from more than $100,000 to more than $1,000,000– while at the same time many of their companies pursue strategies […]

The Scandal of Vast Inequality in Retirement Pay

Cato the Elder, a Roman senator and historian, once remarked: “Cessation of work is not accompanied by cessation of expenses.” For centuries, retirees have been aware of this unfortunate fact, which led them to demand and, in many cases, secure old age pensions to help provide financial security during their “golden years.” But as indicated […]