How's this for an outrageous proposition: Americans should have more control over the way their retirement savings, through Social Security, are invested. That's what most members of the government's Advisory Council on Social Security concluded last week, as the group suggested three reform options that would postpone the day, now only about 15 years away, when the program will begin to collect less in taxes than it has promised to pay out in benefits.
The most market-oriented option, backed by five of the council's 13 members, would direct 40% of the Social Security payroll taxes now collected from each worker and...
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