A Quote by Gary Johnson

The retirement age needs to be raised. A portion of Social Security ought to be privatized, if not all. And there probably needs to be some means testing. It's a Ponzi scheme that's not sustainable.

Gary Johnson

Quote Topics

Age Means Needs Ought Ponzi Scheme Portion Raised Retirement Retirement Age Scheme Security Social Social Security Some Sustainable Testing

Quote Author

Gary Johnson
American - Celebrity
Born: January 1, 1953

Social Security is the foundation stone of that kind of retirement security. It not only needs to be strengthened in order to make sure it's there for younger baby boomers and Generations X and Y, but it probably needs to be strengthened and expanded because the retirement benefits now being offered by most employers are not sufficient to support middle-income Americans in their long years of retirement.

Hedrick Smith

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.

Herman Cain

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.

John Doolittle

Washington treats Social Security like a Ponzi scheme.

Ron Johnson

Social security isn’t a ponzi scheme. It’s not bankrupting us. It’s not an outrage. It is working.

Rachel Maddow

My financial adviser Ric Edelman...thinks the time to start educating people about money is when they are children. He's set up a retirement plan called the RIC-E-Trust that can provide retirement security. A $5,000 one-time tax-deferred investment at birth, with an average interest rate of ten percent compounded, means that a child would have $2.4 million when he or she is 65 years old. Who needs Social Security with that kind of nest egg?

Cal Thomas

The full retirement age is 67 and the lifespan is 80, so when they first conceived Social Security, they didn't think they were going to be paying benefits for 13-15 years. That's one of the reasons why this pyramid scheme isn't working.

Joe Heck

The debate over Social Security should not be about how much we can cut from the program in order to balance the federal budget. The debate over Social Security should not be about raising the retirement age or limiting benefits. The debate over Social Security should be about retirement security.

Sherrod Brown

The main purpose of Social Security is to redistribute wealth, to make an increasingly large number of Americans dependent on government for their basic needs in their retirement years.

Neal Boortz

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.

Steve Israel

I agree that we must expand opportunities for retirement saving, but we must not undermine this worthy effort with a flawed privatization scheme that takes the 'security' out of Social Security.

Mary Landrieu

You can look at history of these things, and Social Security wasn't devised to be a system that supported you for a 30-year retirement after a 25-year career... So there will be things that, you know, the retirement age has to be changed, maybe some of the benefits have to be affected, maybe some of the inflation adjustments have to be revised.

Lloyd Blankfein

The only reason there is a crisis about Social Security in the US and pensions in Europe and Japan is that you cannot maintain a "Ponzi" scheme indefinitely. We have collected from today's young to pay today's old and counted on tomorrow's young to keep doing so. That was a fine scheme as long as the number of young people was rising faster than old people. When that ratio comes to an end, such a system also has to end.

Milton Friedman

The president and Republicans in Congress have repeatedly promised to revisit Social Security privatization after November. But Americans have already said, loud and clear, that they don't want Social Security to be privatized or dismantled.