Social Security: A reminder of the other ‘Groundhog Day’
US News • February 2008 • Views: 366
On Feb. 2, 2005, President Bush proposed his broad outline for saving Social Security. It was never passed.
Had Bush’s plan gone into effect then, of the $1.8 trillion in Social Security payroll taxes collected from workers and their employers in the last three years, up to $600 billion today would be in “private” or “personal” accounts of those workers.
Instead, America’s workers have nothing in the Social Security fund. Yes, there’s nothing there.