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.

Every day without personal accounts for younger workers is a day when Americans are denied the benefits of compound interest and building a nest egg for retirement. What is truly sad is that over the past decade, the lowest-earning fifth of American workers have been struggling to join the new investor class despite the overwhelming burden the Social Security tax imposes on them. Between 1995 and 2001, stock share ownership grew by over 90% for the least well-off Americans. That is almost eight times faster than the top 10% of earners. Despite the crippling size of Social Security taxes, the these Americans have tried to find a way to save and invest, and are eager and willing to build a better future. Personal accounts can help them do just that.

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

Less Well-Off Are Struggling to Join the Investor Class