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Explain what would happen to the cash flow (benefits paid & FICA taxes received) of the social security system if the earnings threshhold (currently $137,700)

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Explain what would happen to the cash flow (benefits paid & FICA taxes received) of the social security system if the earnings threshhold (currently $137,700) were raised dramatically? Focus separately on the flows in and out and in the short run and the long run. 1. Short run a. Benefit payments made b. FICA taxes received c. Overall 2. Long run a. Benefit payments made b. FICA taxes received c. Overall Explain what would happen to the cash flow (benefits paid & FICA taxes received) of the social security system if the earnings threshhold (currently $137,700) were raised dramatically? Focus separately on the flows in and out and in the short run and the long run. 1. Short run a. Benefit payments made b. FICA taxes received c. Overall 2. Long run a. Benefit payments made b. FICA taxes received c. Overall

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