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Martin O`Malley on Social Security

Democrat

 


Make it easier for workers to invest in their own retirement

O'Malley's "Expanding Social Security So Americans Can Retire With Dignity" plan sets "a national goal of increasing the number of Americans with adequate retirement savings by 50 percent within two terms in office." It does this not just by increasing Social Security benefits, but also with steps that make it easier for private-sector workers to invest in their own retirement, as well as steps "to prevent older Americans from losing the savings they already have."
Source: Campaign for America's Future on 2016 presidential hopefuls , Aug 21, 2015

Increase retirement benefits & provide caregiver credits

Source: Campaign for America's Future on 2016 presidential hopefuls , Aug 21, 2015

Without Social Security, 1 in 4 seniors would be poor

Social Security has kept millions of elderly Americans out of poverty since it was put into place in 1935. Today -- following the Great Recession, which decimated the retirement savings of millions of Americans -- Social Security remains an especially critical lifeline for our parents and grandparents: without it, more than four in 10 Americans over 65 would be living in poverty. We cannot ask seniors with modest savings to live on even less.
Source: N. Y. Times on 2015 presidential hopefuls , Aug 21, 2015

Repeal income tax on retired veterans; & later all retirees

Nearly every day I hear from folks who say that they love the state of Maryland, that they have spent their entire lives here, and that they don't want to leave their kids and grandkids. But, that they simply cannot afford to stay here on a fixed income.

Eventually, once we solve our current budget crisis, and turn our economy around, I want to reach the point where we are able to do away with income taxes on all retirement income, just as many other states have done. This week, we will start heading toward that goal by submitting legislation that repeals income taxes on pensions for retired military, police, fire, and first responders. These brave men and women have put their lives on the line for us--they deserve it--and they have earned these tax breaks.

Source: State of the State address to 2015 Maryland Legislature , Feb 4, 2015

Create Retirement Savings Accounts.

O`Malley adopted the manifesto, "A New Agenda for the New Decade":

Balance America’s Commitments to the Young and the Old
An ever-growing share of the federal budget today consists of automatic transfers from working Americans to retirees. Moreover, the costs of the big entitlements for the elderly -- Social Security and Medicare -- are growing at rates that will eventually bankrupt them and that could leave little to pay for everything else government does. We can’t just spend our way out of the problem; we must find a way to contain future costs. The federal government already spends seven times as much on the elderly as it does on children. To allow that ratio to grow even more imbalanced would be grossly unfair to today’s workers and future generations. In addition, Social Security and Medicare need to be modernized to reflect conditions not envisioned when they were created in the 1930s and the 1960s. Social Security, for example, needs a stronger basic benefit to bolster its critical role in reducing poverty in old age. Medicare needs to offer retirees more choices and a modern benefit package that includes prescription drugs. Such changes, however, will only add to the cost of the programs unless they are accompanied by structural reforms that restrain their growth and limit their claim on the working families whose taxes support the programs.

Source: The Hyde Park Declaration 00-DLC7 on Aug 1, 2000

Other candidates on Social Security: Martin O`Malley on other issues:
2016 Presidential Candidates:
Donald Trump(R-NY)
Gov.Mike Pence(R-IN,VP)
Secy.Hillary Clinton(D-NY)
Sen.Tim Kaine(D-VA,VP)
Gov.Gary Johnson(L-NM)
Gov.Bill Weld(L-MA,VP)
Dr.Jill Stein(G-MA)
Ajamu Baraka(G-VP)
Roseanne Barr(PF-HI)
Evan McMullin(I)
2016 Withdrawn Democratic Candidates:
Gov.Lincoln Chafee(RI)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Jim Webb(VA)
2016 Withdrawn GOP Candidates:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
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Page last updated: Aug 18, 2016