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Green Party on Social Security

Party Platform


ObamaCare sets precedent for market-based social insurance

Using a market-based model for health insurance sets a dangerous precedent. Traditional social insurances are provided by the government and are paid for through taxes.

The same plan may be in the works for Social Security. In his speech, the President announced a new retirement savings program, MyRA. Although the details of MyRa are not clear, it is based on creating individual retirement accounts (IRAs) for workers who don't currently have them.

What we do know is that Social Security has been under attack throughout the President's time in office. Rather than doing what is needed, raising the cap, or going beyond that and raising benefits, there have been attempts to cut benefits and raise the age of eligibility. The public is being told that Social Security is in a crisis but is not being told that this 'crisis' is intentional. Unlike Social Security, IRAs are managed by financial institutions that profit from them. MyRa is another gift to Wall Street by President Obama.

Source: Green Party response to 2014 State of the Union , Jan 30, 2014

Opposes any privatization of Social Security

The Green Party opposes any privatization of Social Security whatsoever. We oppose raising the retirement age above 65 years.
Source: 2008 Green Party Platform from 2008 Chicago Convention , Jul 13, 2008

Don’t privatize Social Security

The Green Party opposes the “privatization” of Social Security. The Social Security trust fund, contrary to claims being made by Republican and Democrat candidates, is not about to “go broke” and does not need to be “fixed” by Wall Street. The alleged demise of Social Security benefits is based on the wildly pessimistic assumption that the economy will grow only 1.8% annually over the next three decades. At a more realistic 2.4% a year, the fund is flush for the next 75 years.

Considering that the bottom 20% of American senior citizens get roughly 80% of their income from Social Security, and that without Social Security nearly 70% of black elderly and 60% of Latino elderly households would be in poverty, it is critical that the public protections of Social Security are not privatized and subjected to increased risk based on misleading projections of shortfalls

Source: Green Party Platform, at 2000 National Convention , Jun 25, 2000

  • Click here for definitions & background information for the Social Security.
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Page last updated: Jul 07, 2014