State of Minnesota Archives: on Social Security


Norm Coleman: 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

Mark Dayton: 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

Mark Dayton: 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

  • The above quotations are from State of Minnesota Politicians: Archives.
  • Click here for definitions & background information on Social Security.
  • Click here for other issues (main summary page).
2012 Presidential contenders on Social Security:
  Democrats:
Pres.Barack Obama(IL)
V.P.Joe Biden(DE)

Republicans:
Gov.Mitt Romney(MA)
Rep.Paul Ryan(WI)
Third Parties:
Green: Dr.Jill Stein(MA)
Libertarian: Gov.Gary Johnson(NM)
Justice: Mayor Rocky Anderson(UT)
Constitution: Rep.Virgil Goode(VA)
Peace+Freedom: Roseanne Barr(HI)
Reform Party: André Barnett(NY)
AmericansElect: Gov.Buddy Roemer(LA)
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Page last updated: Dec 16, 2013