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Romney - Social Security Privatization

Romney - Social Security Privatization

Mitt Romney supports raising the retirement age and allowing younger workers to privately invest portions of their Social Security funds.


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Sam Roodbar

Sam Roodbar

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Romney has been passively in favor of privatization, but with Ryan on the ticket, we can expect to see a renewed push to dismantle Social Security.

Article: Why Ryan pick won't help ...
Source: Cable News Network

"Privatizing Social Security, that doesn't make sense," Romney said at the time. "There have been some people who have said, Let people save part of their money and invest it. The market goes up and down. I kind of like the system we have in that regard. It would be nice if people could take a portion of their income and save it tax free."

Article: Will Romney embrace Ryan...
Source: Yahoo! News

Mitt’s proposals will not raise taxes and will not affect today’s seniors or those nearing retirement. He proposes that Social Security should be adjusted in a couple of commonsense ways that will put it on the path of solvency and ensure that it is preserved for future generations.

Article: Romney on Social Security
Source: Romney on Social Security

Ryan was, for instance, the key House backer of Social Security privatization. His bill, The Social Security Personal Savings Guarantee and Prosperity Act of 2005, was so aggressive that it was rejected by the Bush administration. Now it’s Romney’s bill to defend.

Article: Mitt Romney will name Pau...
Source: Mitt Romney will name Pau...

It's true that Romney has expressed support for allowing younger workers to voluntarily invest a portion of their Social Security taxes in private retirement accounts.

Article: Social Security Silliness
Source: Factcheck

Now, my own view is, that we have to make it very, very clear that Social Security is a responsibility of the federal government, not the state governments, that we're going to have one plan, and we're going to make sure that it's fiscally sound and stable. Said Gov. Romney

Article: Obama vs Romney on Social...
Source: Obama vs Romney on Social...

Romney has stated recently at a town hall in New Hampshire that privatization of Social Security “didn’t make sense,” while his campaign staff appeared on MSNBC’s post-debate coverage indicating that Romney entertains the idea of raising the current retirement age up from 65 years old. However, Romney in the past has stated several times on record his preference to privatize at least some portion of Social Security.

Article: Flashback: Romney wanted ...
Source: Flashback: Romney wanted ...

Romney’s ideas are not as draconian as Paul Ryan's, but they do pave the way for Wall Street’s ultimate goal – full privatization of Social Security and Medicare.

Article: Why Mitt Romney's Entitle...
Source: Rolling Stone

When asked at a townhall meeting in 2011 if he supports "privatization" of Social Security, Romney backed away from support, saying that he only mentioned it as an idea that others had floated. Instead, he proposed offering more opportunities for middle class families to invest in the market without paying taxes on interest, dividends and capital gains, but not within the confines Social Security

Article: Will Romney embrace Ryan'...
Source: ABC News

Mitt Romney Embraces Privatizing Medicare and Social Security and Raising Eligibility Ages
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Article: Mitt Romney Embraces Priv...
Source: YouTube