Here We Go Again--Private Investment Accounts for Social Security

Published on 2007/02/16

In this 02/16/07 blog at Talking Justice, Ed King examines private investment accounts for Social Security.

From the Talking Justice blog--02/16/07

The President’s budget for 2008 would permit diverting four percent, more than half, of each worker’s FICA contributions from the Social Security system to private investment accounts (PIAs). This is no small matter. The President’s budget proposal estimates that his plan for PIAs, which would go into effect in 2012 (conveniently, after President Bush’s tenure ends), would cost $29.3 billion in FY 2012 and $637.4 billion during the period from FY 2012 to 2017.

Read more at NSCLC's blog on Talking Justice