Poll Shows Support for PRAs

Social Security plan backed in new poll : "Most likely voters continue to support President Bush's proposal to let younger workers invest some of their Social Security payroll taxes through personal accounts, a new survey finds.

The poll by independent pollster John Zogby for the Cato Institute, which is being released today, found that when voters understood the benefits of personal investment accounts, including a better financial rate of return than the current system, the Bush plan was supported by 52 percent of Americans and opposed by 40 percent.

Among supporters, the most popular reason for supporting private accounts was, "It's my money; I should control it," Mr. Zogby said. "This was true for every group except African-Americans, who chose inheritability as their biggest reason for supporting accounts." The poll's results suggested that Mr. Bush's proposal would be much more popular if he focused "on the points in this poll," Mr. Zogby said in an interview.
"Nobody can understand or relate to the system's insolvency in 2043. But it wins a majority when the issue is raised as a matter of choice and as a positive opportunity," he said. "If it's pitted as just Social Security reform because it is becoming insolvent, that's not enough."