Part Three: Why It Won't Work as Crafted
June 7, 1999
Senior Fellow Eugene Steuerle argues that the fatal flaw in the administration's strategy behind its private pension proposal is that it is not integrated either with social security reform or with further reform of the private pension system. Accordingly, if adopted as proposed, USA accounts would increase substantially the administrative burdens imposed on taxpayers and the IRS. Some parts of the proposal would be very hard to understand, and, as one consequence, participation could be reduced.