The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM
Iran's Sham Election In Houston.
June 20, 2005 5:36 AM
Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM
Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM
Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM
Idea Majorities Matter.
May 12, 2006 6:15 PM
Twilight Zone Economics.
Oct. 17, 2006 12:30 AM
The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM
From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM
Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM
Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM
Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM
Unions Antithetical to Liberty.
May 28, 2008 11:12 PM
Right To Work States Rock.
June 9, 2008 12:25 PM
Social Security Reform Thursday.
March 13, 2008
Caption Contest: Enter Today!
Due: July 29, 2008
The Carnival Of Classiness.
Mar. 14, 2006
Quotational Therapy: Obama.
Apr. 4, 2008
Mainstream Melee: Wolfowitz.
May 19, 2007
Pundit Roundtable: Leaks.
July 9, 2006
A WILLisms.com(ic), by Ken McCracken
July 14, 2006
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Social Security Reform Thursday: Week Fifty-Seven -- Personal Accounts Are Awesome.
Thursdays are good days for reform, because they fall between Wednesdays and Fridays. Just because the status quo'ers got their way in 2005 does not mean the problem has gone away. Indeed, it's getting worse with each passing day. Thus, Reform Thursday continues.
That's why WILLisms.com offers a chart or graph, every Thursday, pertinent to Social Security reform.
This week's topic:
Of All The Solutions, Personal Accounts Are The Only Win-Win-Win Scenario.
Behold, compound interest. Working. Over time. Just like Social Security personal accounts would work.
The Times' story explains how a provision allowing Americans, in 2010, to roll over their traditional tax-deferred retirement accounts into Roth IRAs, where investment gains can be withdrawn regularly, tax-free, will "cost" billions to the government.
It will save billions from government misuse. It will prevent billions from falling into the hands of pork-and-entitlement-loving fools. It will keep billions in the free enterprise system, in the hands of actual American human beings.
And, ultimately, a portion of all that wonderful wealth generated by the tax relief would find its way back into government coffers. A 10 trillion dollar economy with a generic 10% tax rate produces more tax revenue than a 7 trillion dollar economy with a generic 14% tax rate.
Tax cuts, the more I examine the historical evidence, do indeed pay for themselves-- and then some.
But that's not the point.
The point is that personal retirement accounts via Social Security would be remarkably similar to the account shown in the graph above. Hundreds of millions of Americans, of all income levels, could be busy accumulating many trillions of dollars of wealth, with minimal effort and LESS expense than under the current Social Security regime.
Personal accounts are the best solution to Social Security's woes. They are clearly better than cosmetic, temporary fixes, such as raising the retirement age, raising the tax rate and/or cap, cutting benefits, delaying benefits, and so on.
Herman Cain explains what needs to happen:
If members of Congress are serious about preserving the Social Security program without needlessly increasing payroll taxes or reducing benefits, they must immediately take the following three steps.
Want to give "the base" a reason or two to show up this November?
Then reform Social Security. Do it now. There are trillions of good reasons for reform. Let's get on it.
Previous Reform Thursday graphics can be seen here:
-Week One (Costs Exceed Revenues).
Tune into WILLisms.com each Thursday for more important graphical data supporting Social Security reform.
Posted by Will Franklin · 18 May 2006 08:44 AM
Will, I have a question for you, because I have not investigated this: who in your opinion of likely 2008 presidential prospects has the best position or energy regarding SS reform?
Posted by: Ken McCracken at May 18, 2006 07:43 PM
A question and a suggestion.
Question: Where can I find an eight percent ROI? My accounts aren't doing nearly as well.
Suggestion: Let's change the name from Social Security to Individual Security.
Posted by: Hootsbuddy at May 19, 2006 05:08 AM
I will have to think about that one, Ken... a lot of the top ones have said very little about the issue.
Posted by: Will Franklin at May 19, 2006 09:36 AM
It will prevent billions from falling into the hands of pork-and-entitlement-loving fools.
But that's precisely what the NYT -- and liberals in general -- means by costing the government money. As in they won't be able to fund yet more worthless and destructive feel-good entitlement programs, and bribe yet more voters.
Posted by: rightwingprof at May 19, 2006 01:28 PM