Social Security Answers
When it comes to fixing Social Security, some politicians don't have answers, some politicians can only tell you what they don't want but can't offer solutions. Bill Cassidy has answers with positive solutions. In an interview with The Advocate, the candidates discussed options:
Cazayoux, D-New Roads, said he has no concrete solution to the impending problem but feels the private account concept is not the way to go.
Bill Cassidy offered ideas about a comprehensive solution:
Cassidy said he supports voluntary personal investment accounts as part of the solution, if it is fiscally sound.
"Institutional investors often get a better rate of return than individual investors," he said.
Cassidy said he is against an increase in the payroll tax cap because it changes the nature of the program.
"It ceases to be an investment vehicle of sorts and it becomes a tax program," he said
State retiree's are concerned about two provisions under current Social Security law - the Windfall Elimination Provision and Government Pension Offset which reduces the amount they receive. Bill talked with The Advocate about what he has done in the State Senate and what he would do in Congress:
Cassidy was one of seven state senators to sponsor a resolution this year asking Congress to consider eliminating or reducing the provisions.
Most people affected by the provisions are in lower wage jobs and do not know that they planned their retirements around benefits they may not receive, Cassidy said.
"You don't balance the budget on those that are most vulnerable," Cassidy said. "You come up with a comprehensive solution that is fair to everyone."