« House Bill In Early September? | Main | Harry the Hypocrite »

July 20, 2005

Grow Accounts gaining steam

Brendan Miniter in the OpinionJournal's Daily Political Diary reports that:

Next to "saving" grandma's check, the most popular idea out there is stopping Congress from "raiding" the Social Security "trust fund." Grow Accounts would be financed by surplus Social Security taxes that are currently diverted to feed Congress's pork barrel habit. This money would be socked away in privately-owned accounts, creating real -- not fake -- retirement savings. These excess payroll tax deductions currently account for about 2% of a worker's paycheck. Secondly, the powerful chairman of the House Ways and Means Committee, Bill Thomas, as well as Speaker Denis Hastert and other Republican leaders are publicly committed to pushing Grow Accounts... In the Senate, Grow Accounts are likely to be voted on by themselves -- making the vote a referendum of sorts on whether Congress should keep spending the Social Security surplus on unrelated pork barrel or use it to create genuine retirement savings.

Delinking fixing the solvency issues and fixing the raid on the Trust Fund is good politics. Since Democrats seem to be resisting fixing the problems together by using personal accounts as a sweetener, it makes sense to push for the more popular end to raiding the Trust Fund. Keep it simple: Stop The Raid, Grow My Account.

Posted by Adam Doverspike at July 20, 2005 2:23 PM | Print

Trackback Pings

TrackBack URL for this entry:
http://www.socialsecuritychoice.org/cgi-bin/mt/mt-tb.cgi/6756

Listed below are links to weblogs that reference Grow Accounts gaining steam:

» annual credit report from annual credit report
[Read More]

Tracked on January 12, 2008 2:11 PM