Proposed measures for reforming the American social security system call for allowing workers to invest a portion of their payroll FICA contributions in individually owned and directed personal retirement accounts.
This would amount to the partial securitization of social security taxes and could channel a significant volume of new funds into the U.S. securities markets.
Watching the unfolding of the details on securitization of social security should be a priority for capital flow analysts during the second Bush term.
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