Gary Johnson on Social Security
Libertarian presidential nominee; former Republican NM Governor
JOHNSON: Well, in the case of Social Security, there are some reforms to Social Security and that starts with raising the retirement age, something that neither party is talking about. Neither Trump or Clinton are talking about reforming the entitlements that happen--
Q: Wait, so you raise the Social Security retirement age?
JOHNSON: I would, yes, I would make that proposal, yes.
Q: And what would you raise it to?
JOHNSON: Well, for starters, it needs to go up. What is the exact age? I mean this ends up to be, you know, very dollars and cents and very accounting oriented, but it seems to me that it should be at least 70 years old.
Q: And would you similarly raise the age of eligibility for Medicare?
JOHNSON: There is that, but there's also who is eligible for Medicare.
JOHNSON: Absolutely. There are reforms to Social Security that need to take place. One would be raising the retirement age.
Q: To 75, you've suggested. Do you think you could get that done?
JOHNSON: I'm not giving a number here. This is something that Congress is going to have to come up with. Let's remember that when Social Security was adopted, 55 was the average age of an American. And nobody was going to even live to collect it in the first place.
"Citing a story in USA Today which reported that a rash of retirements in 2009 is pushing Social Security to the brink, Johnson said the retirement age needs to be raised perhaps to 70 or 72. "This is the reality, we're broke," said Johnson. "We're broke."
That's STILL the reality.
The [Social Security] retirement age needs to be raised. A portion of Social Security ought to be privatized, if not all. And there probably needs to be some means testing. It's a Ponzi scheme that's not sustainable.
A: I would cut Social Security by raising the retirement age and have common sense means testing that's fair. I would scrap the entire federal tax system and replace it with the FairTax--a one-time consumption tax, with no more Medicare and unemployment payroll deductions--so we'd replace all federal taxes, abolishing the IRS.
Johnson: Medicaid and Medicare and reforming Social Security.
Bachmann: Obamacare, the largest entitlement and spending program in our country's history.
Gingrich: Also, fraud in Medicaid and Medicare are rampant. We should stop paying the crooks.
Cain: I would focus on major entitlement reform. This would focus on programs similar to Social Security.
Governor Johnson has also said that he would be open to personal accounts for Social Security, as well as means testing the program.
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