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.
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.
Social Security is an insurance policy. It's a terrible investment vehicle. Social Security has some great benefits. But it was never meant to be a savings plan. So we need to have a national debate. Should this 12.5 percent that we're contributing all go into a Social Security pool, or should half go into a mandatory savings plan?
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.
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.
Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.
The revenue stream for Social Security benefits comes from payroll taxes, which are credited to the Social Security Trust Fund - accounting for the program's finances separately from the rest of the budget.
There are many commitments I have made for reducing poverty. One is to reform social security. Social security reaches only 44 percent of Mexicans. One of my goals is to give social security to all the people.
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.
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.
This is what class warfare looks like: The Business Roundtable - representing Goldman Sachs, Bank of America, JP Morgan Chase and others - has called on Congress to raise the eligibility age of Social Security and Medicare to 70, cut Social Security and veterans' COLAs, raise taxes on working families and cut taxes for the largest corporations in America.
Millions of Americans have paid into social security and deserve their full benefits. Pure and simple, Republicans are manufacturing a social security crisis that does not exist in order to dismantle social security.
Open the borders to willing workers from any and all nations. They will create businesses that pay taxes, especially payroll taxes to fund Medicare and Social Security benefits of retiring baby boomers.
Social security is the most successful government program in our nation's history. We are not going to cut social security! We are going to expand social security!
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.
We promote domestic savings by also things like the personal accounts associated with the president's Social Security initiative, which over time would generate more savings.
[Social Security ] is not in crisis at this stage. Leave Social Security alone. We have a lot of other places we can look that is in crisis. But Social Security is not.