Social security taxes cushion employees and their dependents against financial shocks once the employees retire, die, or become incapacitated. The US social security system, which is run by the federal government, uses the taxes that employees pay into trust funds to support the eligible citizens. The program requires that anybody applying for an employment post to have a social security number to enhance the tracking of one’s lifetime earnings and years worked. While social security appears as the solution to improving the quality of life for retirees and their families, it raises numerous questions. The main question has to do with sustainability as the number of retirees is bound to go up which would create deficits deeming it unsustainable. Domhoff William contributes to the social security debate by outlining how class and power as advanced by influential and political American organizations relate to social security.
Characterizing Economic Policy Institute and Cato Institute’s Political Viewpoints
The organizations that have been chosen concerning the social security debate are the Economic Policy Institute and Cato Institute. These organizations have different political viewpoints in the political spectrum meaning that their approach to social security demonstrates variations. Economic Policy Institute whose mission is to empower and inform individuals to seek solutions identifies itself as non-partisan. The organization thrives by understanding the need for influencing policies for the welfare of the citizens it represents. Domhoff establishes in as much as Americans fifer in income and social levels there is not a fixed power group if “power is constitutionally lodged in all people” (2014, p 34). The institute taps into this provision by advancing civil rights to ensure that all the citizens are empowered. This organization believes that all employees deserve fair pay affordable healthcare as well as retirement security (Economic Policy Institute). It is for this reason that thee institute proposes policies that would improve and protect the low-and middle-income workers' economic conditions. In this case, EPI could be classified as liberal and left-leaning considering that it advocates for social equality. For more information regarding the institute's mission and history, one could use this URL https://www.epi.org/about/.
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Cato Institute, a public policy research institute identifies as a libertarian organization, which advocates for a limited government role. The institute advocate for policies that advance civil liberties, peace, and free markets no matter which political party is in power making it non-partisan (Cato Institute, 2020). Cato Institute resists being part of the conservative movements, as this would mean the need to maintain the status quo and unwillingness to change. The institute opposes most of the government actions such as high taxation and militarization of the police. In particular, Cato Institute advances the privatization of government programs and agencies including Social Security. The Institute exists to move the power away from the rich and the upper class who dominate the federal government. Domhoff (2014) asserts that the domination by the rich means that the working class would have less say which would frustrate their efforts to assume power. Cato Institute disputes this hold of power since it frustrates public policies that are geared towards empowering the majority of Americans. For more information on Cato Institute’s mission and public policy framework one could use this URL https://www.cato.org/
Applying Domhoff's model of class, power, and politics to the processes of the organizations
Cato Institute and Economic Policy Institute are non-partisan organizations that shape public policy in the United States. The institutions, which are interest groups, are focused on seeing a shift of power from the elite to promote the welfare of the minority groups CATO Institute is at the forefront of ensuring that the policies that are implemented are favorable to the majority of the Americans. The institute understands that to achieve the objective it has to act directly and compellingly to make its stance on public issues to be heard. Domhoff (2014) asserts that in the US there are policy issues, which groups disagree with such as taxation, foreign policy, and welfare. The institution or group, which manages to initiate, modify, or veto policy alternatives, is considered to wield the power. Cato Institute has been in the limelight for vetoing the government to alter some of its policies, which appear to contravene civil rights and their well-being. The institute is already vetoing the federal government on the election policies during this time of the COVID-19 pandemic. Shapiro & Knight (2020) who are institutes authors assert the need for changing the voting systems to allow mail-in voting to safeguard public health. Such a call means that the institute is using its influence and power to shape American politics so that they are favorable to all citizens despite their political affiliations.
Economic Policy Institute engages the federal government by researching on public policies that would improve equitability and accountability. The institute researches various public policy areas, which include budgeting, public investments, economic growth, immigration, unemployment among others. The research empowers this institute as it usually has a basis for lobbying the government to improve the existing public policies. Domhoff (2014) believes that these kinds of organizations have a stake in ruling America considering that they have a chance of gaining access to decision-makers. The Economic Policy Institute just like other organization's boards of directors has an affiliation with American corporates who set the political agenda. In such a case, EPI through its board of directors has a chance to create a social framework that focuses on what is important for society. EPI just like Cato Institute writes publications that ensure that it influences the American political arena. Flood (2020) EPIs author focuses on economic inequality and police violence in the latest anti-blackness call. The article establishes the need for centering black communities in American public policies to promote equality. This and other publications demonstrate that EPI is committed to using its influence to ensure that the prevailing political climate promotes the wellbeing of all Americans.
Comparing the Economic Policy Institute and Cato Institute’s Views on Social Security
The two organizations focus on social security, which is the federal government’s program to safeguard the employees’ financial well-being upon retirement, disability, or injury. The Economic Policy Institute asserts that the social security system as it is advances inequities. In this case, there is a need to come up with initiatives that would create adequate, secure, and universal retirement policies. Morrisey (2019) asserts that the retirement system is broken which is the result of replacing defined benefit (DB) pensions with a 401(k)-style defined contribution (DC) plan. This move widened the gap between the employees who receive the benefits and those who do not as the DC plan is associated with high fees. Cato Institute is of the idea that social security will not be sustainable if it will not be reformed. Bourne (20200 establishes that the current level of taxation cannot sustain the payment of future benefits but warns against cutting benefits or raising taxes. The best way to improve social security is by privatizing social security to allow young workers to invest their social security taxes. Such a move would translate to a high rate of return, provide the workers with real control and ownership of their funds, and enhance equity.
Critical Evaluation of the Sites
The EPI and Cato Institute sites are credible considering that they are nonpartisan and that they do not receive government aid, which would create room for bias. The sites rely on public policy research before they can lobby for improvements in the different areas that require an address. EPI and Cato Institute have convincing policy proposals, which are backed up by evidence. These organizations fill the gap that has been created by the assumption of power by the elite and the rich. A failure to be affiliated with any political party in the spectrum means that these organizations can represent the citizens no matter which political party is in power. Domhoff (2014) asserts that non-profit organizations can use books, pamphlets mass media, and local discussion groups to advance their criticisms, ideas ,and policy suggestions. In this case, these organizations have the most important and direct influences when it comes to shaping public policies including social security.
References
Bourne, R. (2020, March 4). Ignoring social security paints a false wealth inequality picture. Cato Institute . https://www.cato.org/blog/ignoring-social-security-paints-false-wealth-inequality-picture
Cato Institute. (2020). About Cato . https://www.cato.org/about
Domhoff, G. W. (2014 ). Who rules America? The triumph of the corporate rich (7th ed.). McGraw Hill.
Flood, K. (2020, September 2). Calling out anti-Blackness in our response to police violence and economic inequality. Economic Policy Institute. https://www.epi.org/blog/calling-out-anti-blackness-in-our-response-to-police-violence-and-economic-inequality /
Morrissey, M. (2019). Steady contributions, affordability, and lifetime income are the building blocks of a retirement system that works for working families. Economic Policy Institute . https://www.epi.org/publication/where-does-epi-stand-on-retirement/
Shapiro, I., & Knight, J. (2020, August 26). Election regulation during the COVID-19 Pandemic. Cato Institute . https://www.cato.org/publications/legal-policy-bulletin/election-regulation-during-covid-19-pandemic#covid-19-challenges-voting
