Francesca Lobato on Social Security

Democratic Senate Challenger

Middle class & poor subsidize Social Security for wealthy

LOBATO says the middle class and the poor subsidize Social Security for the wealthy. Starting with $76,200 and up, no Social Security tax is paid. Congress has raised the retirement age from 65 to 70 years of age as a method of reducing costs. On minimum wages, workers have insufficient money to retire when their health dictates and to afford prescription drugs. To stabilize Social Security, to fund Medicare, and to provide prescription drug coverage for the elderly, we must tax all earnings fairly. Source: Campaign website, www.infoimagination.org/lobatoforsenate/ Feb 22, 2006

Privatization is irresponsible; stock market too volatile

LOBATO says Domenici's support of privatization of Social Security trust funds is irresponsible because the stock market is too volatile. If billions of dollars are invested with big investment firms, those stock brokers make millions in management fees but citizens lose their savings to money managers. Our 77 million baby boomers beginning retirement in 2013 deserve the protection of their funds not the enrichment of money managers to secure future campaign contributions. Source: Campaign website, www.infoimagination.org/lobatoforsenate/ Feb 22, 2006

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