In the current law we're seeing Social Security dwindle. And so what we're saying is if we're going to reduce taxes we just want to make sure that there are things within the law that pay for it. ↗
While it is clear that we need to make some adjustments to protect Social Security for the long term, it is disingenuous to say that the trust fund is facing a crisis. ↗
The reason to deal with Social Security is that it is a system where we have a tradition and history of making sure it is solidly funded for 75 years. At the moment, we look out and we see it is solidly funded until 2037. ↗
Our Hispanic community needs to understand how important the Social Security system is for not only its retired citizens, but also its disabled workers. ↗
By requiring that any surplus in Social Security taxes be returned to the American people in personal savings accounts, the plan ensures that Social Security taxes will be used for Social Security. ↗
Even the Congressional Budget Office and the Social Security trustees appointed by the president say that Social Security is financially sound, without any changes for the next 40 to 50 years. ↗
It has to have a payroll tax that's dedicated to Social Security. The Social Security tax has been very successful over the years in raising almost all of our elderly citizens out of poverty. ↗
Social Security should have a self-sustaining portion that was funded by contributions from both employers and employees. That's what we know and have known for 70 successful years. ↗
In fact, entitlement spending on programs such as Medicare, Medicaid, and Social Security make up 54% of federal spending, and spending is projected to double within the next decade. Medicare is growing by 9% annually, and Medicaid by 8% annually. ↗
