House Republicans Propose Social Security Opt Out/Privatization

They really are coming out of the closet…

First they wanted to destroy Medicare and Medicaid…

Now, they want to destroy Social Security.

I don’t know about you, but I would much rather have Social Security than trust Wall Street to manage my retirement money.  And not everyone has the skills to manage their own investments.

I keep saying it:  Remove the earnings cap on Social Security contributions and we have no Social Security issues anymore.  It’s a small, easy fix and no one has to ever worry about Social Security being insolvent again.

But that’s not what the GOP wants.  They don’t want to save Social Security.  They  just want an excuse to kill it.

If the Democrats will just stand up to them and protect Social Security, Medicare and Medicaid- which is consistent with the Party’s core beliefs- they could take back the House and keep the Senate.  And the Presidency if the President will stand up also…

From The Hill:

House Republicans on Friday introduced legislation that would allow workers to partially opt out of Social Security immediately, and fully opt out after 15 years.

Rep. Pete Sessions (R-Texas), who chairs the National Republican Congressional Committee, and several other Republicans introduced the Savings Account for Every American (SAFE) Act. Under the bill, workers would immediately have 6.2 percent of their wages sent to a “SAFE” account each year.

That would take the place of the 6.2 percent the workers now contributed to Social Security.

Another 6.2% is sent to Social Security by employers. Under the Sessions bill, employers would continue to make this matching contribution to Social Security, but after 15 years, employers could also send that amount to the employee’s SAFE account.

Sessions said this transition to a private retirement savings option is needed because Social Security last year began paying out more money than it took in.

via House Republicans propose Social Security opt-out – The Hill’s Floor Action.

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