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Keyword: hr4851

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  • SOCIAL SECURITY > HR 4851 The Social Personal Savings Guarantee and Prosperity Act

    03/15/2005 4:05:28 PM PST · by AWestCoaster · 15 replies · 332+ views
    Website ^ | Congressman Paul Ryan (R) Wisconsin
    Discussed on CNBC with Congressman Ryan. This bill is highly rated by the Chief Actuary of Social Security with his opinion shown in the link. This bill empowers workers with the freedom to choose a large personal account option for Social Security, with no benefit cuts or tax increases. Summary of the Bill: · Workers will be able to shift to their personal accounts 10 percentage points of the current 12.4% Social Security payroll tax on the first $10,000 of wages each year, and 5 percentage points on all taxable wages above that. This creates a progressive structure with an...