New Source Debunks Bush's Social Security Plan

Are private investments a good idea in place of Social Security? We've had previous posts questioning the value of private accounts. Now Oliver Willis has found an unexpected source of information--Social Security On Line. The government's own site debunks Bush's proposals in this Q&A exchange:

Question:
I think I could do better if you let me invest the Social Security I pay into an Individual Retirement Plan (IRA) or some other investment plan. What do you think?

Answer:
Maybe you could, but then again, maybe your investments wouldn't work out. Remember these facts:

-Your Social Security taxes pay for potential disability and survivors benefits as well as for retirement benefits;

-Social Security incorporates social goals - such as giving more protection to families and to low income workers - that are not part of private pension plans; and

-Social Security benefits are adjusted yearly for increases in the cost-of-living - a feature not present in many private plans.