Bush then plugged his proposal to partly privatize Social Security by allowing workers to set aside some of their payroll taxes in a personalsavingsaccount.
Just as in Chile, for 30 years now they have paid much less into their personalaccountsavings and investment system than required by Social Security, but receive much more in benefits.
The bill empowers each worker age 50 and below with the freedom to choose a contribution to a personalsavings and investment account equal roughly to half of the employee share of the Social Security payroll tax.