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Shaw plan worse than the status quo

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  • Philip Blumel
    As much as I favor Social Security reform, it has to advance us toward the market, not further away. Unfortunately, U.S. Rep. Clay Shaw is actively opposing
    Message 1 of 3 , Apr 27, 2005
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      As much as I favor Social Security reform, it has to advance us
      toward the market, not further away.

      Unfortunately, U.S. Rep. Clay Shaw is actively opposing the
      president's idea of funneling some of the existing payroll taxes
      into personal accounts owned and inheritable by participants.
      Instead, he wishes to graft personal accounts to the Social Security
      system as an "add-on," not a "carve out." It is an expansion of the
      program and an increase in the amount of our nation's resources
      coercively directed into the Social Security program.

      +++++

      Here's Cato Institute notes on the Shaw plan:

      Shaw, Social Security Guarantee Plus Act of 2003 (HR 75)

      Account Size: 4 percent of taxable earnings up to $1,000.

      However, not really 'carve-out.' Accounts financed out of General
      Revenues through tax credit.

      Retirement annuity based on combination of accounts and traditional
      Social Security. Guarantees promised level of benefits.

      Inheritable only prior to retirement. No true ownership.

      +++++

      For a Cato Institute Powerpoint presentation that compares all the
      major plans circulating in Washington, see:

      http://www.cato.org/events/ssu05/ss101c.ppt#261,1,Evaluating

      -- Philip Blumel
    • Dave B.
      Shaw is a perfect example of what is wrong with the Republican party today.
      Message 2 of 3 , Apr 27, 2005
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        Shaw is a perfect example of what is wrong with the Republican party today.
      • mdtaxes@aol.com
        If you are sending this e-mail to William Skinner, please note the new address at BillSkinnerLW@aol.com. The MDTAXES@aol.com e-mail address will soon be
        Message 3 of 3 , May 3, 2005
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          If you are sending this e-mail to William Skinner, please note
          the new address at BillSkinnerLW@....
           
          The MDTAXES@... e-mail address will soon be dormant.
           
          The e-mail address of the Maryland Taxpayers Association is
           
           
          Bill Skinner
          William J. Skinner
          7721 Royale River Lane
          Lake Worth, FL 33467
          561-641-2900
          Fax 561-641-9873
          E-Mail: billskinnerLW@...
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