Subject: How about fixing present Personal Account rules?
There is a hodgepodge of always changing rules for 401k's, IRA's, SEP's, etc. The country is now full of 401k Millionaires for instance. There are probably very few people who have achieved anything like adequate savings with the on-again, off-again $2000 per year IRA accounts. There are huge inequities between one plan and the other. Perhaps we should clean up the present Personal Retirement Account situation before we consider replacing Social Security under yet another set of arbitray rules.
How about letting everyone contribute to their voluntary IRA type account each year up to the amount of their FICA tax? That would standardize the rules for everone. It would also give everyone a direct comparison between the investment value of Social Security and their own investments. Most investors would have a hard time beating Social Security's returns consistantly.
