"[The authors] find that individuals, on average, may be persuaded to lengthen their careers by about 1.5 years; that many households can benefit from the new program (in the sense of having positive equivalent variations); and, that overall federal government income tax revenues per household could rise on average by about $15,000.... [This] hypothetical reform lowers the payroll tax only relatively late in life, that is to say, close to retirement. The reform would actually raise the payroll tax earlier in life slightly -- making it revenue neutral for the Social Security system.... [This hypothetical] policy ... narrowly focuses its tax reduction at the retirement-decision margin." [Research brief no. 142]  MORE >>