Issue Position: Social Security & Medicare

Issue Position

Social Security and Medicare are not entitlement programs. The taxpayer spends years paying into these programs and, as the Baby Boomers retire, their retirement security now looks bleak. Currently, Social Security will have to face a 24% reduction in benefit payments by 2037 to remain solvent. We must update Social Security and Medicare to address our current economic reality.

The Fiscal Year 2013 plan proposed by the Republican Study Committee (RSC) of the House of Representatives will gradually raise the retirement age, while not affecting current recipients of disability and social security or anyone 55 years and older. Taxpayers should have the option to pay a percentage of their Social Security withholding into a private retirement account that can be accessed only by the individual taxpayer. This plan, or something similar, is the first step in returning control of retirement benefits back to the individual- not the government.

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