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Katherine C. Pearson, Editor, and a Member of the Law Professor Blogs Network on LexBlog.com

The new Bush Social Security reform plan

April 16, 2007

President Bush signed an ambitious Social Security plan into lawMonday that will allow citizens to bet a third of their payroll taxeson their favorite sports teams.  It’stime we gave the American people the chance to make some real money forretirement,” Bush said, speaking from the new Office of Social Securityand Pari-mutuel Wagering Building. “Some naysayers think the averagecitizen doesn’t know how to handle his own money. When spring trainingstarts next year, it’s up to you to prove them wrong.”  “It’s your money,” Bush added. “You earned it. You should be able to bet it on whatever team you want.”  Under the new plan, participating citizens will be asked to listtheir favorite teams on their W-2 forms. At the start of each majorsports season, program participants will visit their local SocialSecurity booking offices to review point spreads and sample playofftrees. Citizens’ team selections will be subject to approval by theiremployers, who contribute a percentage of wages to the employee SocialSecurity Earned Benefits Fund, or “pot,” under the new system.

Source:  The Onion (of course), http://www.theonion.com/content/node/30808

Thanks to WM 2-L Phil Ruce for the tip. 

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