The latest IA Poll of visitors to www.investmentadvisor.com indicated that fixing the Social Security funding problem should be President Bush's highest financial priority during the remainder of his term. Identified as the most important issue by 29% of the respondents, the issue was closely trailed by the need for tax code simplification (27%).
The oft-stated goals of the second Bush Administration--establishing personal/private accounts to supplement Social Security, and permanently repealing the federal estate tax and other tax cuts enacted in his first term--were not echoed by the Investment Advisor online community. The first two were considered the highest priority by only 8% and 4%, respectively, while the third received no responses.
Addressing the Alternative Minimum Tax issue (17%) and reforming Medicare funding (15%) were the priorities for a significant number of polltakers as well.
The May IA Poll asks advisors to suggest the best way to fix Social Security funding. You can take that poll here.