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Jim Huffman on Social Security |
Huffman said the ad was full of lies and half-truths. He said he supported the bank bailout because it was the best of a batch of bad policies the federal government was considering at the start of the financial crisis. He said he doesn't support privatizing Social Security, but believes people should be given the option of putting payroll taxes in a private account.
Further, as economists we understand the crucial role private ownership plays in allocating resources and creating a rational framework for decision-making. Unfortunately, under the current system, there are no ownership rights in Social Security.
Personal accounts change all that. Individuals will own real assets that Congress may not touch. Those assets not utilized in retirement may then be inherited by participants' heirs, something the current Social Security system does not allow.
Therefore, we support giving workers the option of shifting all or part of their Social Security taxes into individually owned, privately invested accounts, similar to individual retirement accounts or 401(k) plans. We believe that only a system based on savings and investment can provide a safe & secure retirement without burying future generations under a mountain of new taxes.
The Christian Coalition voter guide [is] one of the most powerful tools Christians have ever had to impact our society during elections. This simple tool has helped educate tens of millions of citizens across this nation as to where candidates for public office stand on key faith and family issues.
The CC survey summarizes candidate stances on the following topic: "Allowing individuals to invest a portion of their Social Security tax in private retirement accounts"