Cato Institute - Please read

[Richard Arsinow <richard.arsinow@rauland.com>]

Thanks to the participants who have mentioned the open-minded and
comprehensive work of the Cato Institute.  Of all the proposals
being floated, truly theirs stands out in terms of covering the
needs of all parties.

To the writers concerned about current retirees:  The Cato plan
would leave the benefit structure intact for current retirees.

To all those who want a continued safety net, in the form of a
minimum benefit program:  It is an important part of the proposal.

To those concerned with older widows from either single- or
dual-income families:  The benefits would be better than under
Social Security because the husband's accumulated retirement savings
would pass to the widow and supplement her own without being
diminished by rules and regulations.

To those who shy away from stock market investment of retirement
funds:  There would be a minimum-risk choice, such as government
bonds, but you would get to see your own individual account grow
and compound.  That is far better than the uncertainty we have now.

To the writers concerned that Congress may reduce or eliminate
their benefits:  A fundamental principle of the plan is that your
individual account would be yours, regardless of your future income,
and that, if not used by you, it would pass to your heirs.

To those who are penalized by the marriage penalty:  The Social
Security benefit marriage penalty would be eliminated.

To the wage earners who have invested heavily into Social Security
and worry that replacing it would force them to start over from
zero:  This may be the only plan which proposes privatization and
yet fully recognizes all past Social Security contributions
(acknowledged at time of transition and available at retirement
age).

To Members of Congress:  Please do not take a position against
privatization without reading the Cato Institute proposal.

Please go to the Briefing Book in this site and read the White
House Conference papers by Jose Pinera and Peter Ferrara.  You will
see that the Cato Institute has devoted a great deal of effort into
proposing a system under which everyone would be better off than
under the present Social Security system.

For more information and to read papers by other Cato Institute
members, including Michael Tanner and Carrie Lips, please visit

http://www.socialsecurity.org/