To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors.
quote by Grace Napolitano
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What we should be trying to do is to encourage people to establish private retirement accounts and help them take pressure off the Social Security system.
quote by Dennis Moore
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In order to fix Social Security, we must restructure it so that we continue to provide for our Nation's seniors that are approaching retirement age, but allow for younger taxpayers to invest a portion of their Social Security taxes in private accounts.
quote by Herman Cain
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Because of their low earnings and family obligations, Latinas would not be putting much money into private investment accounts. An average Latina could wind up losing thousands of dollars under this proposal.
quote by Grace Napolitano
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As you know, Social Security functions under the premise that today's workers will help finance benefits for retirees and that these workers will then be supported by the next generation of workers paying into the same system.
quote by Steve Israel
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And let us not forget the Social Security system. Recent studies show that undocumented workers sustain the Social Security system with a subsidy as much as $7 billion a year. Let me repeat that: $7 billion a year.
quote by Luis Gutierrez
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Even people who feel perfectly comfortable investing in the stock market and owning their own homes often have qualms about individual medical accounts or Social Security private accounts.
quote by Jacob Hacker
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Drawing on President Bush's reform plan, which would allow citizens to transfer part of their Social Security contributions into personal accounts, an alteration of the current system is needed to make necessary change.
quote by James A. Leach
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By requiring that any surplus in Social Security taxes be returned to the American people in personal savings accounts, the plan ensures that Social Security taxes will be used for Social Security.
quote by Mike Pence
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Since Social Security faces a large gap between what it promises younger workers and what it can afford to pay them, private savings will likely need to play a larger role in retirement planning for younger workers.
According to the Social Security Administration, in 1945, 41.9 workers supported each individual retiree, while today only 3.3 workers support each retiree. This system cannot continue.
quote by Larry Elder
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I do not believe that the Social Security system is in crisis. The Social Security Administration itself recently reported that the system is able to pay full benefits as they are defined today until at least 2042.
quote by James T. Walsh
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However, the Administration's plan to privatize Social Security will undermine retirement security for all Americans by cutting guaranteed benefits by more than 40 percent, and risky private accounts won't make up for the loss of benefits for millions of Americans.
quote by Ruben Hinojosa
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No matter how you cut it, this real debate on personal accounts is about the legitimacy of Social Security; it's not about the solvency of Social Security.
The 1993 Social Security tax penalizes seniors who have planned for their retirement through savings, investment and hard work. That's wrong, and that's why the double tax on Social Security must end.
quote by Rob Simmons
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President Roosevelt, the author of Social Security, was the first to suggest that, in order to provide for the country's retirement needs, Social Security would need to be supplemented by personal savings accounts.
quote by John Doolittle
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It's time to stop the raid on the Social Security trust fund and start allowing Americans to invest their Social Security taxes in personal savings accounts.
quote by Mike Pence
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Let me be clear, the discussions about Social Security are not about the retirement security of those Americans who are 55 or older - the Social Security system for those folks 55 and over will not change in any way shape of form - no ifs, ands, or buts.
quote by Norm Coleman
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Our Hispanic community needs to understand how important the Social Security system is for not only its retired citizens, but also its disabled workers.
quote by Grace Napolitano
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We need to strengthen and save Social Security for today's workers. If we don't act now, this system, born out of the New Deal, will become a bad deal.
quote by Mitch McConnell
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Congress has changed the Social Security system over time, and over 20 times in the past Congress has raised taxes on Social Security in payroll taxes into the system.
quote by Chris Chocola
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