Moreover, through the personal accounts every worker would be accumulating substantial personal wealth over their career, close to a million dollars or more in real terms for a two earner average income couple, once the option is fully phased in.
In these circumstances, I believe it makes good political sense to keep it simple and just guarantee that no worker with personal accounts will get less in total benefits than Social Security promises today, rather than try to defend a complicated, more limited guarantee.
That said, deciding whether to date a co-worker or not is extremely personal.
No worker would be required to take this personal account option.
And in this case, delivering an individual worker credit through the payroll tax system muddies the waters between personal income taxes and taxes paid to support Social Security.
FORBES: Federal Payroll Tax Cut in 2011--Roots for an Individual Worker Credit?
They can also invest in other tools like AirDefense Personal, software which sits on a laptop computer and helps protect data when a worker is using his computer wirelessly while traveling.
The bill empowers each worker age 50 and below with the freedom to choose a contribution to a personal savings and investment account equal roughly to half of the employee share of the Social Security payroll tax.
FORBES: Social Security Personal Accounts Are A Path To Prosperity
Just to bring a personal story: a few years ago I was a juror in a case where a worker from a contractor company sued a bigger company on the grounds that he had an accident while working in their facilities.
"It is a concept, a noble concept, within Islam that emphasizes a personal struggle within yourself to be a better person, a better husband, better wife, better worker, better neighbor, " he explained.
Each worker would be perfectly free to choose to stay with Social Security as is and forgo the personal accounts entirely.
FORBES: Social Security Personal Accounts Are A Path To Prosperity
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