The 40% Social Security Cut

摘要

If you listened to the noises emanating from the White House, you would think that letting workers put part of their Social Security taxes into individual stock-market accounts will painlessly solve Social Security's problems. "Individually controlled, voluntary personal retirement accounts... will augment the Social Security safety net," President George W. Bush wrote in the executive order setting up the President's Commission to Strengthen Social Security. Sounds real good, doesn't it? But what Bush isn't saying is that the safety net is going to develop a lot of holes.