GEORGE BUSH doesn't get it. And Jeff Jacoby has shown that he doesn't get it either (''Social Security still needs fixing," op ed, Oct. 12). Privatizing Social Security is not the answer. The proper solution is to simply index the amount that is taxed for Social Security (after a one-time adjustment) to the same index as the payments.
This is not to say that private investment accounts are not a good thing, but, with private defined benefit pensions going the way of the dinosaurs and with the advent of IRAs, 403(b)s, 401(k)s, Roth accounts, and the like, a very large portion of workers are already in the market. The last thing these people (and the taxpayers) need is to have the Social Security safety net also subject to the vagaries of the market.
I doubt Daniel Patrick Moynihan would have called for personal investment accounts in Social Security in today's retirement climate. Jacoby either knows this or should know it.
LELAND J. KATZ, Bellingham