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Ownership can be revolutionary.(proposals of George W. Bush)
George Bush ran for re-election not as a status quo, stay the course candidate of "morning in America," but with a call for creating an "Ownership Society"--where citizens own their own homes, retirement plans, health care coverage, and livelihoods.
The centerpiece of the President's plan is transforming Social Security from a wealth transfer scheme--$500 billion a year from the pockets of current workers into the mailboxes of current pensioners--into a system of real savings in personal accounts, fully funded and controlled by each American. When the transition is complete, trillions of dollars in unfunded government liabilities will be eliminated, the largest tax paid by most Americans will be reduced, the federal government's share of our gross domestic product will fall sharply, and the average American will retire with $950,000 in his personal account--enough to buy an annuity that pays twice what the present system promises (but will be unable to pay).
The largest tax cut in history and the largest drop in federal spending since the end of World War II are ambitious projects for a second term. But Bush's Ownership Society is even more consequential than that. His reforms would also change the national psyche: increasing the political constituency for lower taxes, stronger property rights, and greater personal responsibility and self-reliance.
Bush's vision also calls for efforts to increase home ownership. Here's a hint of what that could mean: In House Speaker Dennis Hastert's Congressional district in Illinois, 75-80 percent of voters own their own homes. In Democrat minority leader Nancy Pelosi's district in San Francisco, the number is 35 percent.
The Ownership Society extends to health care as well. The same transition that will give every American greater control over his own retirement could also see wider availability of individual Health Savings Accounts.
The President's proposals are merely building on trends that have been running strongly through the American society and economy for a full generation now. ...
- Bush presents economic initiatives to foster `ownership society'.
- Newspaper article from: Chicago Tribune (Chicago, IL) September 2, 2004 700+ words
...tax code, and perhaps even replace it, and create an "ownership society" that would include allowing Americans to set up private...initiative will turn out to be is uncertain. But House Speaker Dennis Hastert, R-Ill., has proposed a national sales tax...
- The Ownership Society and its discontents: you can't count on George Bush and...
- Magazine article from: Reason Sager, Ryan November 1, 2006 700+ words
...President George W. Bush calls the Ownership Society. It's Bush and his political advisor...Hispanics. A Republican Party pushing an Ownership Society can be all things to all people...dilemma. Do we take the idea of an Ownership Society seriously, despite the fact that...
- Bush's ownership society: great idea, if low-income families benefit.(OPINION)
- Newspaper article from: The Christian Science Monitor September 21, 2004 700+ words
...President Bush's vision of an "ownership society" reflects the belief that personal...holders. It is easy to believe that an ownership society is just around the corner. Nearly...and life in this corner of the ownership society can be rough indeed: Total return...
- 'Ownership society': why the US can't buy in.(FEATURES)(WORK & MONEY)
- Newspaper article from: The Christian Science Monitor September 27, 2004 700+ words
...t ready for President Bush's "ownership society." The idea sounds good. Employees...over the role of government, the ownership society sparks political controversy...On the conservative side: The ownership society "tends to encourage self-esteem...
- Ownership and government: President Bush's proposed ownership society invites a...
- Magazine article from: The American Prospect Kuttner, Robert May 1, 2005 700+ words
...stated goal. Bush's version of an ownership society is both ideological and tactical...is one reason he talks about an 'ownership society.'" But in reality, America...Today's conservative program for an ownership society, by contrast, transfers hazards...
- Plan to alter government's role: Bush's 'Ownership Society' neglects common...
- Magazine article from: National Catholic Reporter Feuerherd, Joe Jones, Arthur February 4, 2005 700+ words
George W. Bush's "Ownership Society," like Franklin Roosevelt...and poor, while Bush's ownership society foresees "empowered" individuals...Critics quip that the "ownership society" means "you're on your...
- Ownership Society versus New Deal; Bush's push to reform Social Security and...
- Newspaper article from: The Christian Science Monitor February 3, 2005 700+ words
...unemployment morass, Mr. Bush's "ownership society" offers increased individual choice...fellow and expert on social issues. "Ownership society" is a unifying theme that the Bush...even tax reform, would all be "ownership society" components, according to Bush...
- 'Ownership society' vs. social responsibility.(OPINION)
- Newspaper article from: The Christian Science Monitor February 8, 2005 700+ words
...Then there is the promise of an "ownership society," which the president says is his...warm. You aren't a fan of the "ownership society"? Why do you hate freedom? But...in furthering the creation of an "ownership society" and giving people a bigger role...
Source: HighBeam Research, Ownership can be revolutionary.(proposals of George W. Bush)