The complex Sarbanes-Oxley law has generated unanticipated negative consequences in its attempt to clean up Wall Street accounting and reporting practices. The cost to the U.S. economy is enormous: $35billion in direct costs and up to $1.4 trillion in indirect costs.Numerous companies have either dropped their U.S. registration orhave simply listed their companies on overseas exchanges.
Creating an explicit property right to Social Security retirementbenefits would protect those who are least able to afford benefitreductions and give them the peace of mind they deserve. Opponentsof reform should refrain from rhetoric that scares senior citizensand instead make certain that the debate focuses on the importantproblems within the system itself.