As for Social Security, a basic reform would let younger people have personal Social Security accounts.
Gingrich said Sunday that he thinks Romney will adopt some of the positions that he's advocated: energy independence, personal Social Security accounts, keeping the government from trying to impose itself on religious values and paying down the debt.
Gingrich said Sunday that he thinks Romney will adopt some of the positions that he's advocated -- energy independence, personal Social Security accounts -- the "Chilean model" that he has pushed -- keeping the government from trying to impose itself on religious values and paying down the debt.
But while we have time, we should rapidly phase in a new system for younger workers-Social Security Personal Retirement Accounts (PRAs), similar to IRAs or 401(k)s.
The main reason Social Security personal accounts were on the agenda in 2005 is that the Cato Institute has been promoting the idea since at least 1980.
FORBES: Why Conservatives Should Help Save the Cato Institute
With this approach, because standard, long term, market investment returns are so much higher than the implicit returns paid by completely noninvested, pay-as-you-go Social Security, all workers who exercise the personal accounts would receive more in benefits through the personal accounts earning standard long term returns than the Social Security benefits they replace.
The Chief Actuary of Social Security has scored several personal account bills as eliminating all future Social Security deficits entirely through such personal accounts alone.
FORBES: Gingrich Schools Santorum And Romney On Social Security
This is as good a year as any--lame duck or not--to relaunch the proposal to fund Social Security with personal accounts.
President George W. Bush campaigned on personal accounts for Social Security quite effectively in 2000, less so in 2004.
FORBES: The New Republican Vision For Modern Social Safety Nets
Any plan for personal accounts for Social Security involves a transition financing issue.
Everything was poised for fundamental, sweeping, historic Social Security reform through personal accounts.
FORBES: How George W. Bush Lost Personal Accounts For Social Security
In the process, the transition to the personal accounts for Social Security is fully paid for, effectively by the spending reductions.
As discussed last week, Rep. Thaddeus McCotter recently introduced a very well developed, advanced plan for personal accounts for Social Security.
FORBES: The New Republican Vision For Modern Social Safety Nets
At the start of 2005, Bush had just decisively won reelection for the second time while advocating personal accounts for Social Security.
FORBES: How George W. Bush Lost Personal Accounts For Social Security
No wonder that the more President Bush talked about Social Security reform and personal accounts the more his support dropped on the issue.
FORBES: How George W. Bush Lost Personal Accounts For Social Security
That legislation includes personal accounts for Social Security, fundamental reform of Medicare and Medicaid, general health care reform, tax reform, and other budget reforms.
When George W. Bush ran for President in 2000, he explicitly campaigned on empowering workers with the freedom to choose personal accounts for Social Security.
FORBES: How George W. Bush Lost Personal Accounts For Social Security
His first-term commission on Social Security recommended that workers, if they so chose, could put up to 2% of their Social Security taxes into personal accounts.
Think how much more Americans would be worth if beginning in 2005 they had been allowed to invest some of their Social Security payments in personal retirement accounts instead of having Washington spend it.
When the Chief Actuary of Social Security in the U.S. scored the similar Ryan Sununu bill, he concluded the personal accounts offered such a clearly better deal than Social Security that he assumed all workers would choose the accounts.
Mr McCain wants workers to have personal investment accounts as part of Social Security but hasn't explained how to make the overall programme solvent.
The Bush Administration will probably propose, as it has in the past, allowing workers to allocate a small portion of their Social Security tax to their own personal savings accounts.
He explained that with the personal accounts, he was modernizing Social Security for a better future.
FORBES: How George W. Bush Lost Personal Accounts For Social Security
Each worker would be perfectly free to choose to stay with Social Security as is and forgo the personal accounts entirely.
FORBES: Social Security Personal Accounts Are A Path To Prosperity
So, in this ideal retirement scheme, Americans would respond to the prospect of a diminishing Social Security stipend by initiating or enhancing personal accounts.
Workers could be allowed to save and invest what they and their employers would otherwise pay into Social Security in personal savings, investment and insurance accounts.
But three neighboring Texas counties, which opted out of Social Security 30 years ago by creating personal retirement accounts, have avoided a fiscal train wreck while providing retirees with even more retirement income.
FORBES: How Three Texas Counties Created Personal Social Security Accounts and Prospered
The real world systems offering personal accounts as an alternative to Social Security all suffered some losses in the financial crisis, but none of them failed and most of the losses have since been recovered, with workers continuing to enjoy far greater long term returns and benefits from the fully funded and invested personal accounts.
FORBES: Social Security Personal Accounts And The Financial Crisis
Those include beginning and expanding an option for personal savings, investment and insurance accounts for Social Security and Medicare, eventually expanded to finance all the benefits financed by the payroll tax today.
应用推荐