Defining Moment

1968-Present

Modern America Era
Defining Moment
What Americans Were Trying To Do
What Americans Were Trying To Do

Sustain retirement and health benefits across generations.

What Happened
What Happened

Social Security and Medicare became central household supports, funded through payroll taxes, trust funds, general revenues, premiums, and borrowing pressure when costs exceed dedicated revenues.

How Public Finance Made It Possible
How Public Finance Made It Possible

Public finance supports income and health security at massive recurring scale.

What This EnabledWhat This Enabled
Retireespeople with disabilitiesolder households rely on benefits thatretirement planning
How Americans BenefitedHow Americans Benefited
Retireespeople with disabilitiesolder households rely on benefits thatretirement planning

Tax Project Institute

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