The Old-Age Reserve Account — A Problem in Government Finance

Abstract

I. Distributing the cost of old-age pensions, 444.—II. The machinery of the Reserve Account created by the Social Security Act, 448.— III. The arguments for a reserve as a matter of budgetary policy are not dependent on the imposition of pay roll taxes, 450— or on any analogy to insurance practice, 454.— IV. Methods of determining the proper amount of reserves, 457.— V. A suggestion of the major issues involved in reserve as against “pay-as-you-go” financing, 460.