NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Manni Yu

Boston University
Department of Economics
270 Bay State Road
Boston, MA 02215

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NBER Working Papers and Publications

October 2016Is Uncle Sam Inducing the Elderly to Retire?
with Alan J. Auerbach, Laurence J. Kotlikoff, Darryl R. Koehler: w22770
Many, if not most, Baby Boomers appear at risk of suffering a major decline in their living standard in retirement. With federal and state government finances far too encumbered to significantly raise Social Security, Medicare, and Medicaid benefits, Boomers must look to their own devices to rescue their retirements, namely working harder and longer. However, the incentive of Boomers to earn more is significantly limited by a plethora of explicit federal and state taxes and implicit taxes arising from the loss of federal and state benefits as one earns more. Of particular concern is Medicaid and Social Security’s complex Earnings Test and clawback of disability benefits. This study measures the work disincentives confronting those age 50 to 79 from the entire array of explicit and implicit...

Published: Is Uncle Sam Inducing the Elderly to Retire?, Alan J. Auerbach, Laurence J. Kotlikoff, Darryl Koehler, Manni Yu. in Tax Policy and the Economy, Volume 31, Moffitt. 2017

Is Uncle Sam Inducing the Elderly to Retire?
with Alan J. Auerbach, Laurence J. Kotlikoff, Darryl Koehler
in Tax Policy and the Economy, Volume 31, Robert A. Moffitt, editor
Many if not most Baby Boomers appear at risk of suffering a major decline in their living standard in retirement. With federal and state government finances far too encumbered to significantly raise Social Security, Medicare, and Medicaid benefits, Boomers must look to their own devices to rescue their retirements, namely working harder and longer. However, the incentive of Boomers to earn more is significantly limited by a plethora of explicit federal and state taxes and implicit taxes arising from the loss of federal and state benefits as one earns more. Of particular concern is Medicaid and Social Security’s complex Earnings Test and clawback of disability benefits. This study measures the work disincentives confronting those age 50 to 79 from the entire array of explicit and impli...
 
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