Germany, I think, was first to substitute a Social Security program for its elderly based on this premise, that is, that we would tax workers to pay retirement benefits for those retired.
quote by John Shadegg
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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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The fine print in the President's Social Security proposal is that all present and future workers under age 55 will have their promised retirement benefits cut.
quote by Mark Dayton
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There's been a lot said about Social Security reform. What has been left out of the debate is the double tax on Social Security benefits. I believe it's time to get rid of a tax that punishes seniors and discourages work and retirement savings.
quote by Rob Simmons
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Specifically, I am concerned about the long-term condition of Social Security. I am committed to ensuring that current beneficiaries and those nearing retirement face no reduction in benefits, while preserving this vital program for future generations.
quote by Cliff Stearns
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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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Social Security is not a retirement savings plan; it is a social insurance program. It's a contract that says, as a society, we will look out for you and your family when you can no longer work.
quote by Jeff Bingaman
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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.
Today there are about 40 million retirees receiving benefits; by the time all the baby boomers have retired, there will be more than 72 million retirees drawing Social Security benefits.
We can preserve Social Security benefits for generations of Americans without privatizing this important program.
quote by Richard Neal
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Since 1935, this has been a pay-as-you-go system, and I always believed when I first started talking about Social Security that there was a little box that had my name on it and it had my benefits for when I retired. That is not true.
quote by Judy Biggert
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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 want to make sure that Social Security is fixed for those people who have had that promise and there's something in the future for our younger workers. And we're not about to do a welfare program.
quote by Dennis Hastert
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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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The President and I agree that Social Security needs to be preserved so that we can ensure that all Americans receive the retirement benefits they've been promised. But we disagree as to how best to fix the system.
quote by Steve Israel
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When I look at Social Security, I consider it the most important social program in the United States, arguably the most successful program in the world.
quote by James A. Leach
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It has to have a payroll tax that's dedicated to Social Security. The Social Security tax has been very successful over the years in raising almost all of our elderly citizens out of poverty.
quote by James Roosevelt
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Indeed, I think most Americans now know that in 1935 when Social Security was created, there were some 42 Americans working for every American collecting retirement benefits.
quote by John Shadegg
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I will work with my colleagues on both sides of the aisle to preserve the Social Security promise that provides secure retirement benefits for all, especially those who are most at risk such as widows, orphans, and people with disabilities when the need arises.
quote by Chaka Fattah
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Because Social Security is specifically designed to boost the retirement income of low earners with a progressive benefit formula, the program has played an enormous and necessary role in keeping Latinas out of poverty.
quote by Grace Napolitano
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I am staunchly committed to ensuring the long-term solvency of Social Security and preserving full benefits for Americans who have spent their entire working lives contributing to this program.