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]

6/29/05

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.

Americans are lucky to have one of the best tax-free retirement savings infrastructures in the world. For nearly thirty years, millions of Americans have been able to save on their own in IRAs, and through their job with 401(k) plans. As a result, more than eight in ten Americans have prepared for their retirement financially within the last twelve months. That is far ahead of vaunted savers and investors like Japan or Hong Kong. That’s why it’s so curious that obstructionist politicians oppose Social Security personal accounts for younger workers. Americans have experience planning for retirement, and clearly want to do more of it. Why should opponents of choice stand in their way?

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

Americans Are Ready to Accept the Responsibility of Planning for Their Retirement
Source: HSBC Research

###
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.