Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRyan: Romney And I Support Social Security Privatization
Ryan: Romney And I Support Social Security Privatization
Sahil Kapur
In the vice presidential debate Thursday night, Paul Ryan seemed to indicate that a Romney-Ryan administration would support the idea of giving younger Americans the option to move their Social Security benefits into private retirement accounts.
<...>
For younger people, Ryan said. What we said then and what Ive always agreed is, let younger Americans have a voluntary choice of making their money work faster for them within the Social Security system. Thats not what Mitt Romneys proposing. We say no changes for anybody 55 and above.
And then the changes we talk about for younger people like myself is dont increase benefit for the wealthy people as fast as anybody else, slowly raise the retirement age over time, he said. It wouldnt get to the age of 70 until the year 2103, according to the actuaries.
Ryan championed plans in 2004 and 2010 that would shift Social Security funds into the private market. Participants would be permitted to invest one-third of their Social Security taxes in stocks and bonds. Although the plans contained mechanisms to protect payouts to beneficiaries against market fluctuations, nonpartisan studies found that it could destabilize the programs solvency in the long-term. Bush tried and failed to enact a altered version of the plan at the beginning of his second term.
- more -
http://tpmdc.talkingpointsmemo.com/2012/10/paul-ryan-defends-social-security-privatization.php?ref=fpnewsfeed
Sahil Kapur
In the vice presidential debate Thursday night, Paul Ryan seemed to indicate that a Romney-Ryan administration would support the idea of giving younger Americans the option to move their Social Security benefits into private retirement accounts.
<...>
For younger people, Ryan said. What we said then and what Ive always agreed is, let younger Americans have a voluntary choice of making their money work faster for them within the Social Security system. Thats not what Mitt Romneys proposing. We say no changes for anybody 55 and above.
And then the changes we talk about for younger people like myself is dont increase benefit for the wealthy people as fast as anybody else, slowly raise the retirement age over time, he said. It wouldnt get to the age of 70 until the year 2103, according to the actuaries.
Ryan championed plans in 2004 and 2010 that would shift Social Security funds into the private market. Participants would be permitted to invest one-third of their Social Security taxes in stocks and bonds. Although the plans contained mechanisms to protect payouts to beneficiaries against market fluctuations, nonpartisan studies found that it could destabilize the programs solvency in the long-term. Bush tried and failed to enact a altered version of the plan at the beginning of his second term.
- more -
http://tpmdc.talkingpointsmemo.com/2012/10/paul-ryan-defends-social-security-privatization.php?ref=fpnewsfeed
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 806 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (1)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Ryan: Romney And I Support Social Security Privatization (Original Post)
ProSense
Oct 2012
OP
Berlum
(7,044 posts)1. Americans realize what a STUPID and GREEDY bunghole of an idea (R) this is
a way to bust the system while making the greedy rich (R) richer. Massively so.
ProSense
(116,464 posts)2. Substance, it gets lost. n/t
Berlum
(7,044 posts)3. Yet VP Joe made the heart of the matter plain last night