The Dems like to believe they are defeating the prospects for Social Security reform. However, President Bush and the GOP have succeeded in the first real hurdle of Social Security reform, convincing the country (save for a couple of vulgar out-of-work Daschle devotees; see below) of the looming crisis, setting the stage for substantive reform proposals.
At the beginning of the debate, the left attempted to fleece Americans into believing that there were no questions of Social Security's solvency, and, I'll submit that most of the country may have believed likewise. Now, thanks to simple math and a persistent message, it is well accepted that Social Security is in trouble and our benefits are not guaranteed (See Sibby Online). Any proposals up front without convincing the country of the very real need for reform would have been dead on the water. Although the GOP has yet to offer a substantive reform plan, they have laid several options out on the table.
Note well that the left has yet to offer a single proposal or offer to solve the Social Security crisis (attn: Senator Johnson). Instead, they are: 1) attacking the President and the GOP for not having a plan; 2) attacking any ideas offered, such as partial privatization, etc. ; or 3) taken the short cited view that because Social Security is solvent now, there is no urgent need to fix its deficiencies.
The first major hurdle has been cleared in the Social Security reform debate, admitting its Social Security as we know it is doom to fail. With that in mind, I found an interesting proposal from political consultant Dick Morris.
Morris proposes "Designer Social Security."
The key is choice. Lots and lots and lots of individual choice.
Call it "Designer Social Security" — create a system that gives us each options that let us create a system that is right for us.
We are all adults. We get the point that the Social Security system can't pay us the benefits now on the books with the revenues slated to flow in during the coming decades. We know that something has got to give. That's why we are hesitant to buy into privatization in the first place until Bush explains how he will solve the basic problems of the system.
So offer us options. For example:
Option A — No increase in taxes. No change in the retirement age. A cut in benefits.
Option B — No increase in taxes. A later retirement age. The current level of benefits.
Option C — An increase in taxes. No change in retirement age. The current level of benefits. (For those who can document higher income levels, there could be a further option of an increase in the ceiling of taxation or a raise in the rate.)
Throw the Bush choices into the mix — private investments in exchange for an added tax hike, benefit cut or increased retirement age.
Morris goes on to describe the personal, economic, and political benefits of such a plan.
Who knows if such a plan would work. The important thing to note is that we are talking about reform. Its a sign that we've taken the first step in acknowledging our current system is doomed to failure. Now we can move on to proposals for strengthening and improving Social Security.
Recent Comments