It Takes a Family, by Rick Santorum: on Social Security


Jon Corzine: ASPIRE: America Saves for Personal Investment & Retirement

I have been working with Democratic Senator Jon Corzine on an idea titled the America Saving for Personal Investment, Retirement, and Education Act (the "ASPIRE" Act). It creates savings account called a Kids Investment and Development Savings (KIDS) account for every child born in America. Under this plan, the federal government would endow each account with a one-time $500 contribution. Every child living in households earning below the national median income would be eligible for an additional contribution of up to $500. These accounts would encourage savings and promote financial literacy for all children, and they would give low-income children in particular a sense of ownership, a stake in the American economy, and a source of wealth to help them through life in a manner similar to a federal employee's Thrift Savings Account. All earnings in the account would be tax-free until withdrawn.
Source: It Takes A Family, by Sen. Rick Santorum, p.152-153 Apr 30, 2006

Joseph Lieberman: IDAs: 401(k)s for low-income individuals

Sen. Lieberman and I have been promoting Individual Development Accounts. IDAs act like a 401(k) program for low-income individuals. These programs are set up, many by faith-based organizations, with a mix of federal, state, and private dollars. These organizations help their low-income clients set up accounts at their local banks, provide training on how to manage these accounts, and then match individual contributions dollar-for-dollar up to $500 a year. These accounts earn tax-free interest and can be used to pay for education, to buy a home, or to start a business. In other words, these accounts launch low-income people into the asset accumulation game.

Our legislation will create approximately $2 billion in tax credits for financial institution and private investors that create IDAs. We have tried for years to create a federal IDA tax credit as part of a broader initiative called the Charity Aid Recovery Empowerment (CARE) Act, which would help charitable organizations help the poor.

Source: It Takes A Family, by Sen. Rick Santorum, p.151-152 Apr 30, 2006

  • The above quotations are from It Takes a Family: Conservatism and the Common Good, by Rick Santorum.
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2016 Presidential contenders on Social Security:
  Republicans:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Jim Gilmore(VA)
Sen.Lindsey Graham(SC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.John Kasich(OH)
Gov.Sarah Palin(AK)
Gov.George Pataki(NY)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Sen.Marco Rubio(FL)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Gov.Scott Walker(WI) 		Democrats:
Gov.Lincoln Chafee(RI)
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Elizabeth Warren(MA)
Sen.Jim Webb(VA)

2016 Third Party Candidates:
Gov.Gary Johnson(L-NM)
Roseanne Barr(PF-HI)
Robert Steele(L-NY)
Dr.Jill Stein(G,MA)
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Page last updated: Feb 24, 2019