Social Security faces a major long-term funding crisis. A 38 or greater percentage increase in the systems' tax rate is needed to meet current benefit payments on an ongoing basis. Tax increases of this magnitude or comparable benefit cuts would significantly worsen what is already a very bad...

The values of income quintiles, for black and white families separately, for the period 1947-68 are analyzed within the framework of a growth-unemployment model. Some principal results of the analysis are: (1) In all segments of the income distribution, growth rates of income are higher among...