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Michele Bachmann on Social Security

Republican Representative (MN-6)


Young should invest retirement money, not give it to gov't

In 1978, when I was still in college, examining my modest paycheck, I could see how much the government was withholding from my check. I was shocked. The income tax bite was bad enough, but what was this about FICA taxes. I was, and am, all in favor of everyone having a safe and solid retirement, but I started to wonder if the current system was the best way to achieve that goal.

I learned about the illusion that each of us had his or her own Social Security account; we had no such thing. Instead, all the money went into a big general fund, allowing the politicians to do whatever they wanted with it.

I thought to myself, "I'm young; I'd rather take the money myself and put it in a savings account and watch it grow." I wanted to invest that money from every paycheck, not turn it over to the government. Instead, the government wasn't investing my retirement money for my best interest; it wasn't even investing it at all. The government was spending it on current recipients.

Source: Core of Conviction, by Michele Bachmann, p. 66-67 , Nov 21, 2011

No payroll tax cut; we need revenue from baby boomers

Q: [to Romney]: Do you agree with Pres. Obama the payroll tax cut should be expanded?

ROMNEY: I want to keep our taxes down. I don't want to raise any taxes anywhere. Let me tell you, I'm not looking to raise taxes. What I'm looking to do is to cut spending.

Q: Does any candidate on this stage oppose the extension of the payroll tax cut?

BACHMANN: Yes.

Q: You oppose it?

BACHMANN: I do. I opposed it when it was first proposed, because I knew that it would blow a hole of $111 billion in the Social Security trust fund. President Obama clearly did this for political reasons. I had made that warning then, because we actually have already run Social Security in the red. Now, consider the context. We have baby boomers in their peak earning years. This is when money should be flooding into the Social Security trust fund. Instead, we're already in the red.

Source: 2011 CNBC GOP Primary debate in Rochester MI , Nov 9, 2011

Keep promise to older workers; reform for younger

Q: How will you convince senior citizens that Social Security and Medicare need to be changed?

BACHMANN: Well, one thing that we need to let senior citizens know is, for those who are currently on the Social Security system, the United States government made a promise to senior citizens, and we have to keep that promise to them. But we also need to know that for those who are not yet on the system, the system simply has to be reformed in order for it to work. The same goes with Medicare. We need to have someone who understands the solutions to these programs. I'm a person that's had feet in the private sector and a foot in the federal government. I've been there long enough to know the problems, but not long enough to become a part of the system. I know what to do, and I have the core of conviction to be able to make the changes that senior citizens can count on.

Source: 2011 GOP Tea Party debate in Tampa FL , Sep 12, 2011

Wean everybody off Social Security and Medicare

Rep. Michele Bachmann (R-MN) is putting forward a very daring proposal for how to fix Social Security and Medicare. Bachmann spoke this past weekend at the right-wing Constitutional Coalition in St. Louis, Missouri, and put forth her plan:

"So, what you have to do, is keep faith with the people that are already in the system, that don't have any other options, we have to keep faith with them. But basically what we have to do is wean everybody else off," said Bachmann. "And wean everybody off because we have to take those unfunded net liabilities off our bank sheet, we can't do it. So we just have to be straight with people. So basically, whoever our nominee is, is going to have to have a Glenn Beck chalkboard and explain to everybody this is the way it is."

Source: Eric Kleefeld on TalkingPointsMemo.com , Feb 9, 2010

Wean the next generation off Social Security

In February of 2010, Congresswoman Bachmann spoke at the Constitutional Coalition rally in St. Louis. She stated that those above 55 could be kept within the social security system and paid their expected rates, but that the system would be ended for those below that age. She stated that the next generation could be weaned off of the system.
Source: Constitutional Coalition Speech in St. Louis , Feb 3, 2010

Other candidates on Social Security: Michele Bachmann on other issues:
Incumbents:
Pres.Barack Obama
V.P.Joe Biden
GOP Candidates:
Rep.Michele Bachmann(MN)
Herman Cain(GA)
Rep.Newt Gingrich(GA)
Gov.Jon Huntsman(UT)
Gov.Gary Johnson(NM)
Rep.Thaddeus McCotter(MI)
Rep.Ron Paul(TX)
Gov.Rick Perry(TX)
Gov.Buddy Roemer(LA)
Gov.Mitt Romney(MA)
Sen.Rick Santorum(PA)
GOP Withdrawals:
Gov.Haley Barbour(MS)
Gov.Chris Cristie(NJ)
Mayor Rudy Giuliani(NYC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.Sarah Palin(AK)
Gov.Tim Pawlenty(MN)
Donald Trump(NY)
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Page last updated: Feb 23, 2012