State of Pennsylvania Archives: on Social Security

Jim Christiana: Ensure promises to every generation, but change for future

Results: In Harrisburg, Jim helped stop the overpromises of the past. He supported long- & short-term efforts to preserve public pensions and eliminated its drain on future state budgets.

Bob Casey has the Social Security Trust Fund on a bullet train to bankruptcy. Bob Casey voted to raid $15 trillion from the Social Security accounts for other Washington pet projects.

Brian Fitzpatrick: Protect and strengthen entitlement programs

Everett Stern: Create personal retirement accounts

A: Strongly Support. Create personal retirement accounts within Social Security.

Bob Casey: Stop these crazy proposals to put benefits in stock market

Casey's opponent, Republican Tom Smith, has said he'd let a temporary reduction in the Social Security payroll tax expire in January. He wants taxpayers to be able to divert Social Security taxes into private investment accounts. Smith also says future Medicare beneficiaries should have the option of getting a government check to help buy private coverage.

Tom Smith: Let Social Security payroll tax reduction expire in January

Tom Smith: AdWatch: divert payroll tax into privately managed accounts

Casey's opponent, Social Security payroll into privately managed investment accounts. Meanwhile, Casey's attack that Smith supports tax breaks for the wealthy is based on Smith's support for a revenue-neutral flat tax--instead of a system of graduated tax rates on higher income--and the elimination of taxes on capital gains. Casey's Medicare claim refers to a plan unveiled last year in the House of Representatives by Rep. Paul Ryan.

Barack Obama: Raise $97K cap on payroll tax exempting earnings under $250K

OBAMA: What I have proposed is that we raise the cap on the payroll tax, because right now millionaires and billionaires don’t have to pay beyond $97,000 a year. Now most firefighters & teachers, they’re not making over $100,000 a year. In fact, only 6% of the population does. And I’ve also said that I’d be willing to look at exempting people who are making slightly above that.

Q: But that’s a tax on people under $250,000.

OBAMA: That’s why I would look at potentially exempting those who are in between. This is an option that I would strongly consider, because the alternatives, like raising the retirement age, or cutting benefits, or raising the payroll tax on everybody, including people making less than $97,000 a year--those are not good policy options

Barack Obama: Must capture new revenue; no new Social Security Commission

CLINTON: With all due respect, the last time we had a crisis in Social Security was 1983. President Reagan and Speaker Tip O’Neill came up with a commission. That was the best and smartest way, because you’ve got to get Republicans and Democrats together. That’s what I will do.

OBAMA: That commission raised the retirement age, and also raised the payroll tax. So Sen. Clinton can’t have it both ways.

Hillary Clinton: No lifting cap on payroll tax; that taxes middle class

OBAMA: I not only have pledged not to raise their taxes, I would cut their taxes. We are going to offset the payroll tax, the most regressive of our taxes.

CLINTON: I don’t want to raise taxes on anybody. I’m certainly against one of Senator Obama’s ideas, which is to lift the cap on the payroll tax, because that would impose additional taxes on people who are educators, police officers, firefighters and the like.

OBAMA: What I have proposed is that we raise the cap on the payroll tax, because right now millionaires and billionaires don’t have to pay beyond $97,000 a year. Now most firefighters & teachers, they’re not making over $100,000 a year. In fact, only 6% of the population does. And I’ve also said that I’d be willing to look at exempting people who are making slightly above that.

Q: But that’s a tax on people under $250,000.

OBAMA: That’s why I would look at potentially exempting those who are in between.

Hillary Clinton: Bipartisan commission, like in 1983, to address crisis

CLINTON: I am totally committed to making sure Social Security is solvent. You’ve got to begin to reign in the budget, pay as you go, to try to replenish our Social Security Trust Fund. And with all due respect, the last time we had a crisis in Social Security wa 1983. Pres. Reagan and Speaker Tip O’Neill came up with a commission. That was the best and smartest way, because you’ve got to get Republicans and Democrats together. That’s what I will do. And I will say, #1, don’t cut benefits on current beneficiaries they’re already having a hard enough time. And #2, do not impose additional tax burdens on middle-class families.

OBAMA: That commission raised the retirement age, and also raised the payroll tax. So Sen. Clinton can’t have it both ways.

Arlen Specter: Considered Social Security privatization but saw it unwise