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Jim Huffman on Social Security

 


Option of putting payroll taxes in a private account

Huffman argued that [Wyden's] proposals are too small when the country faces double-digit unemployment and a terribly slow recovery. He said Wyden's great mistake was voting for the stimulus bill because those funds will never be returned to taxpayers.

Huffman said the ad was full of lies and half-truths. He said he supported the bank bailout because it was the best of a batch of bad policies the federal government was considering at the start of the financial crisis. He said he doesn't support privatizing Social Security, but believes people should be given the option of putting payroll taxes in a private account.

Source: Mail Tribune coverage of 2010 Oregon Senate debate Oct 22, 2010

Individually owned, privately invested accounts

Social Security is facing a financial crisis. Social Security's problems flow from its flawed pay-as-you-go structure.

Further, as economists we understand the crucial role private ownership plays in allocating resources and creating a rational framework for decision-making. Unfortunately, under the current system, there are no ownership rights in Social Security.

Personal accounts change all that. Individuals will own real assets that Congress may not touch. Those assets not utilized in retirement may then be inherited by participants' heirs, something the current Social Security system does not allow.

Therefore, we support giving workers the option of shifting all or part of their Social Security taxes into individually owned, privately invested accounts, similar to individual retirement accounts or 401(k) plans. We believe that only a system based on savings and investment can provide a safe & secure retirement without burying future generations under a mountain of new taxes.

Source: Cato Institute FreedomWorks petition signed by Huffman May 12, 2005

Supports private retirement accounts.

Huffman supports the CC survey question on private retirement accounts

The Christian Coalition voter guide [is] one of the most powerful tools Christians have ever had to impact our society during elections. This simple tool has helped educate tens of millions of citizens across this nation as to where candidates for public office stand on key faith and family issues.

The CC survey summarizes candidate stances on the following topic: "Allowing individuals to invest a portion of their Social Security tax in private retirement accounts"

Source: Christian Coalition Survey 10-CC-q6 on Aug 11, 2010

Other candidates on Social Security: Jim Huffman on other issues:
OR Gubernatorial:
John Kitzhaber
OR Senatorial:
Jeff Merkley
Ron Wyden

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Page last updated: Nov 26, 2010