Issue Position: Social Security

Issue Position

Social Security

The number one goal for any legislation, that I would advance or support, will have to be focused on making Social Security permanently solvent. In addition, I will advance legislation that eliminates the systemic raiding of the Social Security Trust Fund. The reckless way in which Washington puts politics and party ahead of coming up with common sense reforms will come to an end.

With 50 million Americans, and growing, who depend on Social Security for a part or all of their retirement, it is time that Washington stop kicking the can down the road and face the issue head on. Under our current guidelines, the Social Security Trust Fund will begin paying out more money than it is taking in by 2015. As if that wasn't bad enough the Social Security Trust Fund will be completely exhausted by 2037.

It is time we take back control of our Social Security Trust Fund, after all those are, our dollars. First and foremost, if you collect Social Security benefits you will continue to collect those benefits. Steps need to be taken now, in making adjustments to the retirement age. When implemented, in 1935, the average life expectancy was 62 years of age. Now, 76 years later we have extended our life expectancy to 78 years of age. That is an increase of 16 years with little change to the age at which benefits can be collected.

Under my plan each person will collect benefits up to the dollar amount they have contributed to the Social Security program. After you have exhausted your investment, we will means test each person to assess the need for the continuation of benefits. If you need Social Security, Social Security will be made available.

For Americans that are not currently collecting benefits, but have contributed their money, they will have the option to voluntarily opt-out of the Social Security program. Upon opting-out, each person will be provided a yearly tax credit designed to offset total contributions made.

For workers who have not contributed to Social Security, they will not begin making contributions. This approach will provide America with the ability to "wind down" the Social Security program and eventually make a complete exit. We must meet the obligations of our current system, but we must also set the expectations that future generations are ultimately responsible for providing for their own retirement.

Future generations of Americans should have the Freedom to choose an appropriate retirement plan restored to them, free from government intervention or control.

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