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The Burden of Social Security Taxes and the Burden of Excessive Health Care Costs

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Publication Date: March 2005

Publisher(s): Center for Economic and Policy Research

Author(s): Dean Baker; David Rosnick

Topic: Health (Health care financing)

Keywords: Wage inequality; Standard of living; Health care outcomes

Type: Report

Coverage: United States

Abstract:

This report shows that the burden of excessive health care cost growth (defined as cost growth in excess of economic growth and the impact of aging) over the years 1980 to 2004 was almost 7 times as large as the tax increase that the Social Security trustees project will be needed to keep Social Security fully solvent over its 75-year planning horizon. Revised April 2005.