Social Security Ownership

OpinionJournal - Featured Article: "The only political trump that reformers have, and the one the White House has to make its main theme, is ownership. Not just an 'ownership society,' in the good phrase Mr. Bush often uses, but ownership of your own payroll taxes to build your own retirement assets. This is the nub of the entire reform debate, because it gets to the fundamental issue of who controls the money that Americans pay into the Social Security system.
As it stands, millions of Americans still believe in the fiction that their payroll taxes are being squirreled away in a savings account in their name somewhere in the U.S. Treasury. This is largely because politicians of both parties have spread this fantasy over the years, the better to be able to continue to spend that loot themselves to buy votes for the next election. The undeniable truth is that Mr. Bush's reform is the only idea on the table that would create such accounts, complete with ownership rights written into law. "