Cato Institute: Workingwomen Will Benefit from Social Security Reform [View All]

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http://www.cato.org/dispatch/01-25-05d.html#2

Workingwomen Will Benefit from Social Security Reform
"So far, the debate over changes to the Social Security system has focused largely on private investment accounts, an idea that Bush and many congressional Republicans are hawking as part of their rescue plan. ... The mere discussion of this option ought to worry a lot of women," according to a column in today's USA TODAY.

"However, according to the Cato study 'Social Security Choices for the 21st-Century Woman,' everyone who truly favors giving women more choices and control over their own lives should champion such a reform."

Leanne Abdnor, president of For Our Grandchildren and author of the Cato study, writes: "Although there has been much public attention paid to Social Security's looming financial crisis, even more important to women may be the clash between the current benefit structure and the socioeconomic changes that have occurred since 1935, such as the great increase in the number of women in the workforce, women marrying later or not at all, and the doubling of the divorce rate. By failing to keep pace with the changing nature of American families, Social Security's outdated benefit structure results in single women and dual-earner couples subsidizing the benefits of wealthier single-earner couples, which creates a sharply regressive element to the current benefit structure."