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What was the proposal to privatize Social Security?

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The most recent proposal to privatize Social Security was put forward by Pres. Bush in 2004 during his campaign for reelection.  After being reelected, he put some effort into pushing his plan, but was unable to get it passed by Congress.

Bush's plan was, basically speaking, to allow people to pay into private accounts instead of Social Security.  In such a plan, a person's savings would actually belong to them rather than...

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