Word: cato
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Dates: during 2000-2009
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Michael Tanner is director of the Cato Institute Project on Social Security Choice...
Personal savings accounts emerged as a Social Security component in academia as far back as the 1950s, but the idea remained dormant until the 1980s, when Ronald Reagan ignited a Republican revolution and the recently formed libertarian think tank the Cato Institute latched onto personal accounts as a free-market fix. Retirement savings, in the free marketeers' view, should be seen as dynamic investments rather than welfare-state safety nets. Indeed, the Cato economists and others concluded that Social Security just wasn't a good investment, based on what taxpayers put in and what they ultimately get out. The President...
...accounts in Chile that is widely regarded as a success. In contrast to Britain's plan, Chile's is compulsory and presents workers with only a handful of conservative, income-oriented investment options. The architect of Chile's plan, José Piñera, is now a co-chairman of the Cato Institute's Project on Social Security Choice and has conferred with Bush on the subject...
...Social Security system--in theory welcoming millions of the working class into the investing class--might aid G.O.P. mastermind Karl Rove's plan to fashion a permanent Republican majority. "What does it mean when every truck driver and waitress becomes a stockholder?" asks Michael Tanner, an economist at the Cato Institute and one of the architects of the private-account movement. "You can create inheritable wealth for low-income people and minorities. If you turn those truck drivers and waitresses into stockholders, they vote and behave very differently...
...would have encouraged not just truckers but also cable installers and mail carriers, among others, to report suspicious behavior. But before the program could begin, it was buried in opposition from the left and the right. Americans did not want to become a "nation of snitches," as the libertarian Cato Institute...