Where does the GOP field stand on Social Security? - AMAC & USA Today
Savannah Kuchar of USA Today reviews the GOP presidential field and where they stand now and in the past on Social Security. One candidate called the program a Ponzi Scheme, one that should be privatized, and favored a retirement age of 70. That was Donald Trump– in 2000. His position now is “no changes” which is akin to letting benefits be cut 23% in a decade (he would be out of office then if he won again.) Interesting, Joe Biden is also more or less in the “leave things alone” camp, though he has called for higher payroll taxes. Other candidates, like Nikki Haley, are carefully wading into this debate, by noting the retirement age will have to go up for the young. Ron DeSantis thinks economic growth alone can cure the program’s financial ills (it cannot). Vivek Ramaswamy favors eliminating government agencies and cutting the number of federal employees by 75% to fund Social Security (not remotely realistic). Read the full piece here.
As an example of the leading thoughts on reforming Social Security, the Association of Mature American Citizens (AMAC, Inc.) believes Social Security must be preserved and modernized. This can be achieved without tax increases by slight modifications to cost of living adjustments and payments to high income beneficiaries plus gradually increasing the full (but not early) retirement age. AMAC Action, AMAC’s advocacy arm, supports an increase in the threshold where benefits are taxed and then indexing for inflation, and calls for eliminating the reduction in people’s benefits for those choosing to work before full retirement age. AMAC is resolute in its mission that Social Security be preserved for current and successive generations and has gotten the attention of lawmakers in D.C., meeting with many congressional offices and staff over the past decade.
The Feds, Congress, past and present, Presidents, past and present and their families, should be stripped of any office, and have their wealth confiscated to replenish the money “owed” to SS with applicable “IRS” interest rates. Then, at 65, anyone can retire with full benefits and if one Spouse dies the remaining spouse can collect both SS Checks…it’s not the effing Fed’s money.
Mark:
Thank you for the comment expressing your views on an issue we consider extremely critical for America’s seniors. Sentiments regarding current elected officials aside, please know that AMAC is actively engaged in advocating for preservation and modernization of our country’s Social Security program. Our carefully crafted Social Security Guarantee plan would ensure the program’s solvency for at least a generation and would not require any increases in taxation. On the issue of spousal benefits, our plan would fall short of what you’re advocating in your comment, but we have included a stipulation to improve surviving spouse benefits. You can learn more about AMAC’s plan on the AMAC Action website (https://amacaction.org).
Thanks again for taking the time to comment!
Gerry Hafer
National Social Security Advisor
The AMAC Foundation
888-750-2622
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