The Johnson Proposal for the Privatization of Social Security was authored by the CATO institute, a traditionally Republican think-tank. It goes something, as you may or may not have heard, like this: Tax moneys, which working individuals already pay into Social Security, may now be invested into stocks, stock market funds, and bonds, on an individual basis. When an individual's retirement age comes by, they may sell these investments and retire on that money. It's a pretty simple plan, and it's essentially the same retirement plan as a great many professionals already have with their employers. There are only two real differences. The first is that an individual's employer would pay into these accounts as well, and an amount that is not much less than what that individual pays. The other difference is that this account is regulated by the government. It's that simple.

The big picture is anything but simple, though. The real benefits of Privatization, along with the most possible and potentially catastrophic perils, are in the numbers. First of all, this plan would instantly open nearly a trillion dollars to investment into the American economy. The effect is two-fold. This way, Americans will be able to take out an amount of money much greater than the amount they put in, not just because the value of each dollar is lower from inflation, but because they will actually be able to buy more with what they've got. In theory. Also, there will be plenty of capital for the American economy, so that companies can expand their businesses and thus provide more jobs and better products and the whole bit. And there's still more! All of this capital will be American; all of these new investments, and thus the trend of ownership of the American companies and the American economic landscape, will go toward Americans, instead of the Chinese like they are now.

And the most urgent problem of all, the future money shortage in our nation's retirement system, will be no more.