Friday, January 28, 2005
On this day:

Rep. Artur Davis on Social Security

Congressman Artur Davis (D., B'ham) says that President Bush has made a "fundamental miscalculation" by supporting reform of the Social Security System. He thinks that Social Security may be the issue that attracts Southerners back to the Democratic Party.

Sorry, Congressman. It ain't gonna happen. I think the real miscalculation here is Davis's failure to recognize that support for Social Security reform is strong and growing, especially among young people and the millions of workers who invest in 401(k) plans. When people realize that what the President is talking about is very similar to creating a "401(k)" within the Social Security system, they become much more likely to support reform. 401(k)'s are popular precisely because they put workers in charge of planning for their own retirement. They have initiated millions of Americans into the investor class. Workers have become comfortable with the risks associated with invesing. And, many, like me, are itching to take control of at least part of the payroll taxes we contribute each pay period. Social Security reform will be a winning issue for President Bush and the Republicans as long as they remember that explanation and persuasion are key to consolidating the support of America's workers.