Yesterday's post anticipated by one day, the New York Times editorial page weighing in on the subject of Social Security reform.
Preserving Social Security while increasing savings outside Social Security is a better way to achieve a prosperous retirement.
News to me is the Administration has two proposals on the table to increase investment incentives. The first is a no-cost, no-legislation-required proposal: the IRS can implement a two-account deposit for your tax return, one of which presumably is your savings account. The other was passed in 2001 is an incentive which "offers a matching tax credit for retirement savings by low- and middle-income taxpayers." They peg the total cost at a "relatively modest" $7B. It's yet to be implemented. The cost is of course, less than 10% the amount the Bush administration was willing to shovel to it's biggest contributors.
Read the Editorial.