Personal accounts provide the benefits of the government run Social Security program without the problems. Specifically, personal accounts are more consistent with economic principles, avoid government moral hazard, and provide more security than government Social Security.

Supporters of government programs often look for ways to incorporate pet transfers into an existing system. Health and disability concerns may suggest some social insurance, but a private market that is sufficiently broad could accomplish this. Integration of many programs under one umbrella...

Edward Lazear and James Poterba, both members of the President's Advisory Panel on Federal Tax Reform, explain the need for tax reform, and how the Panel's proposals are geared to bring about higher growth, simplification that saves filing time, and fairness.