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Thursday, March 17, 2005 - "Social Security reform: The missing pieces" by Steve Trinward

Social Security reform: The missing pieces :

"With all the furor about President Bush's proposed 'reform' of the Social[ist] [in]Security system, it is amazing that nobody (on either end of the conventional spectrum, or even in the middle of it) is talking about real solutions. There are some aspects of the proposal that have a little sense to them, but they are all too little -- and too restricted -- to have any real effect on either workers retiring or 'lockboxes' being maintained.

The arguments over how much of a token amount (less than a third) of the FICA deduction, now being taken (starting with the first dollar earned) from every working person's paycheck, should be diverted into an 'individual account' -- provided that that worker matches it with an equal payroll deduction from what little is left -- miss several key issues. There are many aspects of the FICA system, each of which could have major effect toward serious change in all of this, that are apparently not even on the table for discussion."