Persuading clients to save for retirement.(Editorials)

Investment News, January, 2005

President Bush is pushing for Social Security reform as a key part of his second-term agenda, but there is no certainty he will achieve it. Democrats in Congress and outside will strongly oppose his efforts to allow younger workers to divert part of their Social Security taxes into private accounts that can be invested in the capital markets.

Some even argue that the crunch time for the system is so far off - between 40 and 50 years, depending on assumptions about economic growth - that no action needs to be taken now. Others agree that some action should be taken now but that modest tax increases and benefit cuts will suffice to fix the problem. Given the lack of evidence of an immediate crisis, Congress is likely to fiddle while Rome...

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