H.R.4851 is something you probably haven’t heard about. The bill’s title is “Social Security Personal Savings Guarantee and Prosperity Act of 2004”. The FreedomWorks web site calls it “A Kennedy-esque Revision.” No, not Ted. One of the smart Kennedys.
On July 20th, Rep. Paul Ryan (R-WI) and Sen. John Sununu (R-NH) introduced legislation to reform Social Security the right way — with large personal retirement accounts and without tax increases or benefit cuts. These reform measures would allow all workers the option to invest up to half of their payroll taxes into personal retirement accounts and harness the impact of compounded interest — what Einstein called the most powerful force in the universe.
Two others co-sponsor the bill–Rep John T. Doolittle of California and Rep Trent Franks of Arizona.
I’ll write to my Congress-Critter and ask him to support it. He won’t.
And neither will folks who get their news from television. They won’t know about it.
You’re right– most people won’t hear about it, and to be honest, it’s not sexy enough to be taken up by the blogsphere– yet.
Sooner or later though, we’ll find a way to package some of the ideas out there.
In time my friend, all in time.
Comment by AH — August 22, 2004 @ 4:57 pm