Allen Buckley on Social Security
2004 former Libertarian Senate challenger (GA)
A: No, I do not support any Notch reform proposals. A bipartisan Congressional commission decided no inequity exists. Please note that you probably will not receive such a clean answer from my Republican and Democratic opponents.
A: Under ordinary circumstances, yes, I would support conversion to a CPI-E COLA. I would do so because I believe it would be logical and fair. But inequities exist in the Social Security system. If the numbers worked under my proposal (as outlined on my website, www.buckleyforsenate.com), then I would favor such a change. I say with respect to my social Security fix proposal that annual benefits increases should be tied to a price index tied to seniors spending instead of being indexed by labor cost increases.
A: My proposal: First, unlike past and current practice, the surpluses that are expected to run through 2017 would not be loaned to the federal government for IOUs. Instead, they would be invested in stocks and bonds and similar pension assets, with asset managers paid based on productivity, and with individuals given the right to invest their shares of the annual surpluses (instead of being invested by asset managers), with commensurate adjustments to benefits (increases or reductions) based on individual investment returns. If an annual return of 8% was experienced, the surpluses would carry forward and cover costs through 2025.
Second, a national referendum would be held to decide whether the tax rate should be increased from 6.2 to 7.0 percent.
Third, dollar-for-dollar matching contributions would be added for people born after 1985, on the first 2% of compensation contributed to an IRA or pension plan.
A: I'm against privatization of Social Security because I think it is impractical. In other words, I don't think its practical without incurring debt, and I am against incurring any more debt.ÿ
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2008 Senate retirements:
Incoming Obama Administration:
Winners of 2008 Senate Races:
( * if new to the Senate)
AK:*Begich over Stevens
DE:Biden and Kaufman
GA:Chambliss v.Martin (Dec. 2 runoff)
MN:Coleman v.Franken (recounting as of Dec.1)
NC:*Hagan over Dole
NH:*Shaheen over Sununu
OR:*Merkley over Smith
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