Bobo Brooks proposes a radical alternative to Bush’s lame-duck Social Security privatization…uh, personalization…uh, destruction plan. You gots your own personal tax-deferred savings account, just like with Bush, ya see, then you cut traditional benefits by saying you’re indexing them based on prices instead of wages, also just like Bush. And you get to choose whether you want the piddly reduced benefit in full or you want to toss some of that money into the glorified 401(k) account. All sounds like Bush’s program, right? Yeah, but here’s the kicker, the thing that’ll make it just take off:
Are you ready?
The accounts will get a goofy name, and the government will throw in $3500 gratis!
So, that eliminates all of my concerns; who wants cake?
Hey, alternatively we could just divert up to 100% of our payroll taxes into the purchase of lottery tickets! Chances are somebody’s gonna be retiring well, at least!