Economist’s View says pressure is mounting for the White House to drop Social Security reform, and points to a New York Sun column from Jack Kemp (subcription required to read full article), which seems to question the president’s plan.
A couple of weeks ago, I pointed out that President Bush has a golden opportunity right after Labor Day to advance the ownership society by repealing the death tax and giving working men and women the opportunity to own personal retirement accounts, which would both get a better rate of return and be inheritable by their families. The administration’s general position on both issues is well known – it supports both – but where it stands on the legislative strategy remains a mystery. That’s a real challenge but a great opportunity.
It is particularly challenging where Social Security is concerned because the president’s advisers have insisted that any personal-accounts bill also must guarantee permanent solvency, a simple political impossibility this year. If the president hopes for a legislative success on Social Security, it is essential for him to clear up the mystery. Now is the time to go on record enthusiastically in favor of making a down payment on solvency by stopping the raid on Social Security and devoting payroll tax surpluses to starting personal retirement accounts, an idea being promoted by the Leadership and Ways and Means Committee members in the House and introduced by Jim DeMint, R-S.C., in the Senate.
Then there’s a Newsday article suggesting that, according to reports from two think tanks, the House will probably “cast aside” Bush’s Social Security proposal.
Economist’s View includes a number of other interesting links in his post, and commenter Bruce Webb has some pointed questions that mainly boil down to this:
The numbers don’t run for lower income workers. At least no one has ever put a plan on the table that takes comparable numbers for workers making near minimum wage and showing how they would fare. From the very beginning Private Accounts have been sold on fear and the message “something is better than nothing”. Well there is still quite a bit of “something” in the current system and it is incumbent on privatizers to bring their own numbers to the table.
Expain precisely how people up and down the income scale would come out on this, that is all.
Anybody care to take that on, and bring some numbers along as well?
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Rock the Vote Bio: Rock the Vote was founded in 1990 to organize artists and fight against censorship of musicians. Since then we've evolved to focus on empowering young people to get involved in the political process. We use pop culture, peer-to-peer organizing, and the latest technology to raise visibility of politics and demystify the process of registering to vote. @rockthevote Email the author at: blog(at)rockthevote.com |
umm theath the kemp article urges bush to continue to push for reform not drop it. can you read?
Did you read the same piece I read?
Whhhhaat? Ridiculous.
Theath you say Kemp is telling the President to ‘cool it’ on Social Security?
This is a direct quote from Kemp’s article: “Now is the time to go on record enthusiastically in favor of making a down payment on solvency by stopping the raid on Social Security and devoting payroll tax surpluses to starting personal retirement accounts”
Yes, Kemp differs slightly on the details of the President’s plan…but his whole point is that personal accounts are very necessary.
Theath?? Hello?? You’re embarassing yourself here man.
Theath, you hit a new low every day. I really question RTV’s competence if they hire someone like you to be a “Blogger/Analyst” type for them, because you sure can’t analyze. First, you link gay marriage to Social Security, which turned you into an Internet-wide laughingstock.
Now, you take a pro-personal account article and somehow spin it into an argument against reform. You’re incredible. All Kemp did was suggest a new strategy for implementing and promoting personal accounts, but the idea is the same. It seems to me that you despise the President so much that you see anything that even QUESTIONS the President as ABSOLUTE OPPOSITION to him, when it very clearly isn’t. Please learn to read.
Secondly, the second half of your post is ridiculous, and you can see that for yourself if you go read up the articles and commentaries written by Robert Pozen, the DEMOCRAT who came up with the basic plan behind Bush’s Social Security reform idea. The poor overwhelmingly benefit under the plan, even if they choose NOT to have personal accounts. Remember, it’s a CHOICE, which you seem to constantly disregard.
The Pozen plan would also solve 70% of the funding problem, preventing the need for a giant tax hike on all Americans (ok, just the poor 80% who pay more in Social Security taxes than income taxes) in the future. That would be the biggest possible benefit to those who are poorer, as they wouldn’t have to deal with more money being sucked out of their immediate paycheck.
Theath, I’m losing more and more respect for you by the second. Please stop posting and at least let Hans come back. He sometimes can actually come up with a coherent argument.
THeath-
Please explain yourself.
Since when does Hans make a coherent argument?
To paraphrase the late Sen. Daniel Patrick Moynahan, a democrat from my state (who also supported Voluntary PRA’s), I believe we’re defining coherence down.
Hans may be a pussy, but Theath is a moron!
Which is worse?
I believe we’re defining coherence down.
Indeed we are. After all, we’re dealing with Rock the Vote here. Theath would make Stalin sound coherent.
Unbelievable.
Theath, you are clearly a GOP operative planted by Karl Rove to completely discredit and undermine Rock the Vote from within.
Or, you are just not very bright.
Which is more likely?
Hmm…
I am going to go with the non-conspiracy theory option.
I knew Karl Rove was behind this!
Quick, somebody call Hans! Rock the Vote has been…….INFILTRATED! COMPROMISED!
Evacuate all leftists immediately!
Who is RTV supposed to represent anyway? I’m 20, but they sure as heck don’t represent me!
Ever since the ridiculous RTV performance in the 2004 elections, when they put a “draft card” on their website signed by President Bush, I have lost all respect for this organization.
Everybody to RTV: Drop Dead.
theath
why don’t you respond to any of these comments?
theath? are you running from reason?