Changes

==Social Security and African-Americans==

==Social Security and African-Americans==

African-Americans pay too much into Social Security while working and get back too little in retirement benefits to make Social Security a viable benefit.

African-Americans pay too much into Social Security while working and get back too little in retirement benefits to make Social Security a viable benefit. {{fact}}

How much you get from Social Security depends partly on how long you live, and African-Americans generally have lower life expectancies than other groups. When a black man reaches age 65, he is expected to live only another 13.9 years, almost 2 years (24 payments) less than a white male. The RAND Corporation concluded that, because of differences in life expectancies and marriage rates, on a life-time basis the income transfer from blacks to whites is as much as $10,000 per person.

How much you get from Social Security depends partly on how long you live, and African-Americans generally have lower life expectancies than other groups.{{fact}} When a black man reaches age 65, he is expected to live only another 13.9 years,{{fact}} almost 2 years (24 payments) less than a white male. The RAND Corporation concluded that, because of differences in life expectancies and marriage rates, on a life-time basis the income transfer from blacks to whites is as much as $10,000 per person.{{fact}}

African-Americans often do not have enough money left over after paying taxes to save for retirement. Elderly African-Americans are much more likely than other groups to be totally dependent on Social Security for retirement income. Social Security's benefits are simply not enough: the poverty rates among black elderly women is 29 percent-almost twice the rate for all women.

African-Americans often do not have enough money left over after paying taxes to save for retirement.{{fact}} Elderly African-Americans are much more likely than other groups to be totally dependent on Social Security for retirement income.{{fact}} Social Security's benefits are simply not enough: the poverty rates among black elderly women is 29 percent-almost twice the rate for all women.{{fact}}

African-Americans would be among those with the most to gain from transforming Social Security into a system of individually owned, privately invested accounts, similar to IRAs or 401k plans. Social Security reform must be looked at in light of the alternatives. Incremental reforms to prop up the existing system-such as raising payroll taxes or cutting benefits-could disproportionately harm African-Americans.

African-Americans would be among those with the most to gain from transforming Social Security into a system of individually owned, privately invested accounts, similar to IRAs or 401k plans.{{fact}} Social Security reform must be looked at in light of the alternatives.{{fact}} Incremental reforms to prop up the existing system-such as raising payroll taxes or cutting benefits-could disproportionately harm African-Americans.{{fact}}

==Social Security and women==

==Social Security and women==