Since 1935, In the United States, Social Security has been around. Social Security is essentially the Old age, Survivors and disability insurance program, though the Social Security Act was singed into law by President Franklin Roosevelt. Social Security is funded trough the peoples payroll taxes and Federal Insurance Contributions Act tax. This is one of the reasons it is such a big deal when it comes to the Presidential Races that we see today. For me, its really not that important of an issue for this upcoming races because I'm not setting up my retirement plan anytime soon. Yes I do understand that they do talk about the amount of taxes to be takin from our paychecks, though how I look at it, we are going to always get taxed for something,
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Would strengthen Social Security funding by raising the system's taxable wage base to $250,000 (it will be $118,500 in 2016)."
-(Bernie Sanders, 2016)
Now, we turn to the Republican views on Social Security. We are able to see the their positions on Social Security, for the majority of the candidates, because 5 out of the 7 have nothing posted on their websites regarding it, isn't that big of a topic. Rubio and Paul are the only two that in fact have views on Social Security on their websites and they state:
"Rubio would make no changes for those in retirement or near retirement. He would gradually increase the retirement age to keep up with changes in life expectancy. He would reduce the rate of benefit growth for upper-income seniors while making the program stronger for low-income seniors.
Paul would raise the retirement age gradually for younger workers and by means-testing yearly earnings. Paul has previously been quoted as allowing workers to opt out of Social Security. In 2010, he called Social Security a Ponzi scheme."
-(Randall Paul & Marco Rubio, …show more content…
Cruz would raise the retirement age and cap increases in the cost-of-living adjustment. He also advocates allowing workers to save up to $25,000 per year in Universal Savings Accounts (USA).
Bush would raise Social Security's retirement age to 68 or 70. He would also encourage setting up starter 401(k) accounts that would allow workers and businesses to access a single retirement plan to reduce complexity.
There don't seem to be recent quotes from John Kasich on Social Security. But one of his more memorable statements about Social Security comes from his 2006 book, "Stand for Something: The Battle for America's Soul," where he wrote that more 18-year-olds believe they stand a better chance of seeing a UFO than a Social Security check.
Fiorina is keeping her views on Social Security secret until she's president. She thinks the federal government shouldn't get more involved in helping workers set up retirement plans."
-(CBS, Money Watch,
Would strengthen Social Security funding by raising the system's taxable wage base to $250,000 (it will be $118,500 in 2016)."
-(Bernie Sanders, 2016)
Now, we turn to the Republican views on Social Security. We are able to see the their positions on Social Security, for the majority of the candidates, because 5 out of the 7 have nothing posted on their websites regarding it, isn't that big of a topic. Rubio and Paul are the only two that in fact have views on Social Security on their websites and they state:
"Rubio would make no changes for those in retirement or near retirement. He would gradually increase the retirement age to keep up with changes in life expectancy. He would reduce the rate of benefit growth for upper-income seniors while making the program stronger for low-income seniors.
Paul would raise the retirement age gradually for younger workers and by means-testing yearly earnings. Paul has previously been quoted as allowing workers to opt out of Social Security. In 2010, he called Social Security a Ponzi scheme."
-(Randall Paul & Marco Rubio, …show more content…
Cruz would raise the retirement age and cap increases in the cost-of-living adjustment. He also advocates allowing workers to save up to $25,000 per year in Universal Savings Accounts (USA).
Bush would raise Social Security's retirement age to 68 or 70. He would also encourage setting up starter 401(k) accounts that would allow workers and businesses to access a single retirement plan to reduce complexity.
There don't seem to be recent quotes from John Kasich on Social Security. But one of his more memorable statements about Social Security comes from his 2006 book, "Stand for Something: The Battle for America's Soul," where he wrote that more 18-year-olds believe they stand a better chance of seeing a UFO than a Social Security check.
Fiorina is keeping her views on Social Security secret until she's president. She thinks the federal government shouldn't get more involved in helping workers set up retirement plans."
-(CBS, Money Watch,