112th CONGRESS REFORM OF SOCIAL SECURITY L.R. Halsted (The Washington Times National Weekly) Oct. 29, 2012 New workers would have a personal account, workers owned but managed by the IRS with account funds invested in the stock market and possible property. Consequently there is a need for more payroll tax, (no new taxes) which need could also be met by the extra 4% required in the New Social Security System. The creation of a New Social Security System will be viewed by the public as an outstanding accomplishment by the Republicans, Tea Party and all Conservative minded members of Congress. Note; Disability Insurance for workers would be their personal responsibility. (up the creek without a paddle) Ps; The ad shows two small children holding a sign that read; PERSONAL RETIREMENT ACCOUNTS, PLEASE.