Friday, May 20, 2005

And Another Blow

One of President Bush's top advisors on Social Security reform is urging the President to give up the idea of using a portion of withholding taxes to pay for private accounts.

Robert C. Pozen came up with the theory behind the President's plan to trim future Social Security benefits. Mr Pozen is a business executive. He developed the theory of "progressive indexing." He warns that the President's private account plan would reduce tax revenue and promised benefits too much. (Philadelphia Inquirer)

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