Wednesday, January 05, 2005

I think we can stop calling it "partial" privatization now.
President Bush is expected to unveil his plan for a Social Security overhaul in late February, with administration officials eyeing investment accounts that would hold two-thirds of workers' annual payroll taxes.

. . . the administration is leaning toward letting workers divert 4 percentage points of their 6.2 percent in payroll taxes � almost two-thirds � into investment accounts, up to $1,000-$1,300 a year, the official said. The remainder of the workers' payroll taxes would continue going into the system.

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