National Press Releases
[2007] [2006] [2005] [2004] [2003] [2002] [2001] [2000]

PRESS RELEASE FROM AMERICANS FOR TAX REFORM
Contact: John Kartch ( jkartch@atr.org or 202-785-0266)

[View Printable Adobe Acrobat File]

7/19/05

Social Security Fact of the Day
Social Security cannot afford to pay all of the benefits it has promised. Beginning in 2017, it will run cash deficits that get bigger every year.

Personal accounts in Social Security would give all workers a leg up to save more for retirement. Some workers need this help more than others. According to a recent study, Hispanic workers, especially those with lower wages, are less likely than their Anglo counterparts to participate in a workplace retirement plan. These workers have no other means to save for a secure retirement than to put aside their Social Security taxes in a personal account that they own and control.

The system has a problem, and we need to fix it. Personal accounts are the solution.

Hispanic Workers Less Likely to Participate in Workplace Retirement Plans
Source: Craig Copeland, “Employment-Based Retirement Plan Participation,” EBRI Issue Brief No. 74, 10/2004

###
Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer groups who oppose any and all federal and state tax increases.  For more information, or to arrange an interview with Mr. Norquist please contact John Kartch at (202)785-0266 or by email at jkartch@atr.org.