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If Social Security personal retirement accounts had been availableto baby boomers, they would have substantially increased the babyboomers' net worth, especially among low-wealth families.Additionally, the gain in retirement security would be between$41,000 and $214,000 at age 65, in inflation-adjusted 2001 dollars. ....
Personal accounts offer two fundamental advantages for smallbusiness: actions that the government would not have to take(unnecessarily raising taxes or cutting Social Security benefits)and results that the private sector would generate (enhancedentrepreneurship, strengthened capital markets, and improvedretirement incomes). Empowering entrepreneurs in this way wouldbenefit the entire nation as additional jobs were created andeconomic growth was sustained. ....
President Bush's 2001 and 2003 tax cuts stimulated investment andexpanded employment, adding some strength to the Social Securitysystem in the process. Extending these tax cuts permanently wouldhelp to lock in these gains and spur further economic expansion. Incontrast, a straightforward repeal of the President's tax cutswould harm both the economy and Social Security. ....