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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (25211)	3/9/2005 2:50:03 PM
From: mishedlo	Read Replies (3) \| Respond to of 116555

"There they go again . . . " anyone have the full text? online.wsj.com 'Adding-On' Entitlements March 9, 2005; Page A20 As the Social Security debate heats up, it pays to watch the political sleight-of-hand. The latest gimmick to emerge, cleverly marketed as a potential bipartisan compromise and "victory" for the White House, is the notion of "add-on" personal investment accounts. Under President Bush's proposal, individuals would be able to divert part of their payroll taxes into personal accounts that they would own. That idea is apparently too shocking for many in Congress and the AARP, however, so instead they're proposing new accounts that would be financed by other tax revenue -- that is, by other taxpayers. In short, they want to create a new entitlement to "add" to all the old ones. If this is what is going to count as Social Security "reform," count us out.