More Social Security



Here's a George Will column on Bush's Social Security proposal. He makes the point that if implemented, most retirees would eventually become less reliant on the government managed portion, realizing that their private accounts fare much better. Over time, this portion might be looked at more as a residual relief program similar to welfare and possibly relegated to the States' control.

"Progressive indexation — larger benefits for the less affluent — would mean that for the more affluent 70 percent of Americans, Social Security would be of diminishing significance as their affluence grows, with dwindling relevance to retirement planning. This 70 percent would be the portion of the population most able to take advantage of personal accounts. And it would possess more than 70 percent of society's political skills — the will and ability to get the attention of politicians by articulating grievances and participating in politics by financial contributions and other means. '

Posted: Wed - May 11, 2005 at 06:29 AM          

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