Posted on 11/04/2004 8:54:18 PM PST by LouAvul
Contending Americans have embraced his conservative agenda, President Bush pledged Thursday to aggressively pursue major changes in Social Security, the tax code and medical malpractice awards, working with Democrats if they are receptive and leaving them behind if they're not.
"I earned capital in the campaign, political capital, and now I intend to spend it," Bush said a day after a decisive victory that made him the first president in 68 years to win re-election and gain seats in both the House and Senate.
CBS News Correspondent Wyatt Andrews reports the president's idea of reforming Social Security begins with creating private accounts for Americans under age 55.
Right now in every paycheck, workers pay a 6.2 percent tax into the system. Depending on the rules of the reform, you could divert anywhere from 2 to the entire 6.2 percent out of the system and into your personal account -- including an approved account invested in stocks and bonds.
However -- and this is a critical detail -- your account would be untouchable. No withdrawals until you retire, reports Andrews.
Because of the election, Social Security, the once untouchable program, is on the table and on top of the pile. And it will rank among the most ambitious reforms any President or Congress has ever attempted, says Andrews.
(Excerpt) Read more at cbsnews.com ...
I don't know about the rest of you, but I don't think it's an accident that whoever wrote that headline referred to Social Security as "SS".
Dude, the fight is over, not the war. When the DU trolls see your headline they're going back and posting " See, they are Nazis, Bush is reforming the SS". Choose your accronyms wisely.
How does the Mexico Totalization proposal fit into his planned reforms of Social Security?
Anyone know?
No.
But according to the WSJ we are about 70 trill short.
The SS? Aren't they those guys who search us at the airport? Anyway, I'm certainly all for reforming them.
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