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Jon Tester on Social Security

Democratic Jr Senator


Privatization would end in massive debt or deep cuts

Using Social Security taxes for private accounts
AARPOpposes
Conrad BurnsNo response
John TesterOpposes
Q: Will you support or oppose using Social Security taxes to fund private accounts?

A: There is no more important or successful social program in our nation’s history than Social Security. In the 2005 Montana legislature, I voted for a resolution urging Congress to prevent privatization and provide sound, long-term funding for Social Security. I support a secure, long-term funding plan for Social Security that guarantees benefits. I will not support any attempts to privatize Social Security, including creating private savings accounts within Social Security. Such efforts would only end in massive debt, higher taxes, or deep cuts in benefits for America’s seniors.

Source: AARP Senate candidate questionnaire , Sep 29, 2006

Opposes privatization

Privatization takes security away from Montanans.
Source: 2006 Senate campaign website, TesterForSenate.com, “Issues” , Dec 25, 2005

Voted NO on establishing reserve funds & pre-funding for Social Security.

Voting YES would:
  1. require that the Federal Old Age and Survivors Trust Fund be used only to finance retirement income of future beneficiaries;
  2. ensure that there is no change to benefits for individuals born before January 1, 1951
  3. provide participants with the benefits of savings and investment while permitting the pre-funding of at least some portion of future benefits; and
  4. ensure that the funds made available to finance such legislation do not exceed the amounts estimated to be actuarially available.

Proponents recommend voting YES because:

Perhaps the worst example of wasteful spending is when we take the taxes people pay for Social Security and, instead of saving them, we spend them on other things. Even worse than spending Social Security on other things is we do not count it as debt when we talk about the deficit every year. So using the Social Security money is actually a way to hide even more wasteful spending without counting it as debt. This Amendment would change that.

Opponents recommend voting NO because:

This amendment has a fatal flaw. It leaves the door open for private Social Security accounts by providing participants with the option of "pre-funding of at least some portion of future benefits."

Make no mistake about it, this is a stalking-horse for Social Security. It looks good on the surface, but this is an amendment to privatize Social Security.
Reference: Bill S.Amdt.489 on S.Con.Res.21 ; vote number 2007-089 on Mar 22, 2007

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Page last updated: Aug 08, 2014