Saving Freedom: on Social Security

George W. Bush: OpEd: Tried to institute personal accounts; but AARP won

When President George W. Bush attempted to reform Social Security with personally owned accounts (a freedom concept), the AARP ran national television ads to frighten seniors that these accounts were "risky." Remarkably they convinced seniors and the majority of Americans that it was safer to spend Social Security taxes than to save them (the federal government now spend every dime of Social Security taxes). The AARP's motives are questionable; they sell millions of dollars worth of those "risky" investments to seniors.

Jim DeMint: People should own their Social Security accounts

My campaign platform was bold and naive. People should own their Social Security accounts, and the money they pay in Social Security taxes should be saved in a personal account the government can't spend. People should have the freedom to own a health insurance policy they can afford and keep from job to job. Parents should have many more choices of schools, and the money we spend on public education should follow the student and not be reserved solely for government-run schools. And finally, we should eliminate the personal income tax and the IRS.

Jim DeMint: Right to own a personal Social Security account

Those who see individuals as incapable of making good decisions want a universal, government-owned, national pension plan (Social Security) with all retired Americans dependent (at least in part) on the government for their income. Those who understand how freedom works will fight for the right of every American to have a personal Social Security account they own and the government can't spend.

Jim DeMint: Social Security program is built on debt and dependency

Paul Ryan: Road Map: invest 5.1% income into personal account

Initially younger workers will be allowed to invest only 2% of their first $10,000 of annual income into their personal accounts and 1% of all income above $10,000. Eventually, (by the time my children retire), workers will be able to invest 5.1 percentage points (nearly half) of the 12.4% that they and their employers now contribute to Social Security.

The Road Map plan guarantees no worker will ever receive less from Social Security than is now promised under the current system. There will be no risk to workers who choose to save for their own future rather than retire as dependents of the government.