State of Minnesota Archives: on Social Security
Protect Social Security for seniors today & future retirees
A promise made is a promise kept. We absolutely must protect Social Security for today's seniors and those nearing retirement, while ensuring the program is solvent for future generations. The Congressional Budget Office puts the 75-year imbalance in
Social Security at $200 billion so if no bipartisan solution is reached, benefits for seniors will be reduced by 21% in 2034. Something we cannot afford to do, however, is raise taxes on social security recipients or payroll taxes on today's working
families and citizens. Even doubling the maximum earnings subject to the FICA tax wouldn't substantially reduce the imbalance and would threaten economic growth and jobs vital to the program's solvency in the process. Likewise, means-testing benefits
would also undermine support for a federal program designed to be available for all workers at retirement. We must put politics aside and enact bipartisan measures to ensure that benefits are protected for today's seniors and our future retirees.
Source: 2016 Minnesota House campaign website JasonLewis2016.com
Nov 8, 2016
Discuss raising the eligibility age for social security
In an Associated Press interview, McFadden endorsed the concept of a path to citizenship for immigrants in the country illegally, and expanded background checks for gun sales.
McFadden also says there should be a discussion of raising the eligibility age for social security and Medicare. He's opposed to federal tax increases and abortion.
Source: Associated Press on 2014 Minnesota Senate race
Jul 23, 2013
For private investment of IRA’s, but against privatization
The Coleman campaign calls the Wellstone TV ad misleading because it implies that Coleman proposes to invest Social Security trust fund money in the stock market. What Coleman calls for is the creation of individual retirement accounts in which
Americans could voluntarily invest a percentage of their Social Security withholdings in stocks and bonds. Coleman’s plan would allow workers, roughly age 50 and under, to privately invest two of the 13 cents per dollar they earn that’s withheld
for Social Security.
[The new Coleman ad says]: “I don’t support privatizing Social Security and I’ll fight against anybody who would do that. A Coleman spokesman says Wellstone is wrong in equating Coleman’s support for individual retirement accounts
with Social Security privatization. [A political analyst notes that] until the stock market plunged, supporters and opponents of the type of accounts Coleman is promoting generally referred to their plans as plans to privatize Social Security.
Source: Minnesota Public Radio, Election 2002 coverage
Sep 20, 2002
People shouldn’t have access to withholdings; too risky
Dayton said allowing people access to their Social Security withholdings endangers the security of retirees. “It’s not a system designed to have people become millionaires,” Dayton said. “We don’t want them to lose everything either.”
Source: By Bob Collins, Minnesota Public Radio on-line
Nov 6, 2000
Keep Social Security intact
I promise to keep Social Security intact, not take a single dollar out of it. The only real threat to Social Security today are those who would undermine it by diverting some or even most of the funds now going into Social Security
for other private accounts or other purposes. My plan would require that surpluses in the Social Security trust fund be set aside exclusively for the benefit of the program.
Source: Minnesota Newspaper Association Election Questionnaire
Jul 2, 2000
Page last updated: Feb 28, 2017