
William Spriggs
Understanding the Need for Full Employment
By William Spriggs
Last week, the Social Security Trust Fund report was released. One of its more telling charts was of the trend in Social Security revenue. Social Security revenue comes from a tax on the wages of earners, paid by both employees and employers. So, essentially it tracks the level of employment.
Based on the simple trend of revenues from 1990 to 2007, just before the Great Recession started, 2012 revenue would have
