White House Memo: Bush Finds a Backer in Moynihan, Who's Not Talking

The New York Times > Washington > White House Memo: Bush Finds a Backer in Moynihan, Who's Not Talking
The administration is pressing for accounts that would be financed out of the payroll tax levied on workers; the accounts would replace part of the benefit paid to retirees by the government. Mr. Moynihan favored accounts that would be layered on top of Social Security, paid for by taxes on top of those directed into Social Security, to supplement the government benefit payment.