George W. Will has a well crafted and very persuasive Newsweek essay on how it will be very difficult for the Democrats to try to deny "the cohort most receptive to reform, those ages 18 to 29," of allowing Americans the choice of diverting a portion of their Social Security taxes in in tax-personal retirement accounts. The Demos are on a collision course "with the constituency that is the vessel of their hopes: voters 18 to 29 are the only age cohort John Kerry carried." Note the lovely Coolidge quote at the end of Will’s essay.
I think the bigger issue is that many 18 - 29 year olds do not trust this administration. Speaking for myself, after seeing the WorldCom and Enron debacles, and the poor performance of my 401k over the last 3 years, I am less receptive to the idea of allowing this administration to set up a partial privatization of Social Security. In my mind it will be a diversion to make investment bankers and corporations more money and in no way will set up a program that will benefit me. When I take into account the transition costs, I don’t see how this plan can improve anything. I think George Will is off base on this opinion.