Focus Point - Social Security ReformCommentary by Pete du Pont
December 03, 2001
I'm Pete du Pont with the National Center for Policy Analysis. President Bush's social security reform commission will hold one more public hearing, on December 11, before making its recommendations on December 21.
The commission reportedly will recommend up to five options, rather than just one, ranging from more regulated, small accounts with more restrictions, to a more liberal approach allowing workers with different incomes to put different proportions of those incomes into their investment plans. Amounts people would be allowed to set aside in market accounts would also vary -- reportedly from 2 percent of income to five.
I'm in favor of the fewest restrictions and the most opportunity. But I also recognize the clever politics at work here. All the proposals will be on the reservation as far as President Bush's campaign promises are concerned. Yet because one approach won't be force fed, it will harder for opponents to defeat every kind of reform.
This will be Bush's greatest, most long-lasting domestic policy victory. Let's get a proposal before the congress.
Those are my ideas, and at the NCPA we know ideas can change the world. Visit the NCPA website at www.ncpa.org to learn more. I'm Pete du Pont. Next time, crushing regulation.