Donald Trump on Social Security
2000 Reform Primary Challenger for President
Social Security is here to stay. To be sure, we must reform it, root out the fraud, make it more efficient, and ensure that the program is solvent.
Same goes for Medicare. Again, people have lived up to their end of the bargain and paid into the program in good faith. Of course they believe they're "entitled" to receive the benefits they paid for--they are!
Then there's the disability racket. Did you know that one out of every 20 people in America now claims disability? That adds up to $170 billion a year in disability checks. Between 2005 and 2009, it is estimated that $25 billion were eaten up in fraudulent Social Security Disability Insurance filings. On and on, scam after scam it goes; as always, taxpayers are the ones getting stiffed.
[In addition to shoring up Social Security for the long term], I say itís high time to separate Social Security from the general treasury. It is time to lock-box it and throw away the key.
The rich will scream. Only the top 1% of people-those with a net worth of $10 million or more-would be affected by my plan. The other 99% would get deep reductions in heir federal income taxes.
Privatization would be good for all of us. Directing Social Security funds into personal accounts invested in real assets would swell national savings, pumping hundreds of billions of dollars into jobs and the economy. These investments would boost national investment, productivity, wages, and future economic growth.
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