One key point is that, with private accounts, Bush is proposing to eliminate annuitization in favor of passing along any remaining money to heirs. Annuitization, of course, substantially boosts actual income, precisely because you can't pass the money along. To get annuitization through private insurance would eat up much more in added costs than the current system. The bulk of people receiving social security are already living on the edge and the loss of the annuitization boost would leave them with less to live on.Bush is a spoiled brat from a rich family who is completely clueless about how real people live. If you have so much money you never have to worry about making ends meet or eventually running out, its pretty easy to worry more about not getting your full share if everything goes right than about destitution if anything goes wrong.
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