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Notice there are no numbers to confuse me. :mad:
Dear Ms. : Thank you for taking the time to contact me concerning Social Security reform.
During the 2000 presidential campaign, President George W. Bush proposed allowing workers to set aside a portion of their existing Social Security taxes into personal retirement accounts.
In 2001, the President established the President's Commission to Strengthen Social Security to make recommendations on ways to modernize the Social Security system. The Commission produced three reform models. Under all three proposals, workers could choose to invest in personal retirement accounts. And, during the 2004 State of the Union address, President Bush restated his interest in allowing younger workers to invest part of their Social Security taxes in personal retirement accounts.
Under a Social Security system with a personal retirement account option, working Americans could accumulate real wealth for their retirement by diverting a portion of current payroll taxes into personal accounts that are individually owned and controlled. Such a proposal would also provide future retirees with an opportunity to garner a better rate of return than the current system can afford.
Like you, I believe that Social Security reform is a very important issue. Social Security is a vital source of income for many American seniors and it must be protected and strengthened. Guaranteeing that the system continues to provide promised benefits to those who have paid into the system is of utmost importance. It is also important to consider Social Security as it will apply to future generations.
Please know that I will carefully study all reform proposals and support measures that ensure the continued integrity and strength of the Social Security system.
Thank you once again for contacting me. I value your advice. If I can be of further assistance to you in the future, please do not hesitate to contact me again.
Sincerely, Norm Coleman United States Senate
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