Harry Reid on Social Security Democratic Sr Senator (NV)

Deal with 2036 bankruptcy in two decades, not now

Similarly, the top Democrat in the House of Representatives, Nancy Pelosi, refuses to acknowledge Social Security's most basic math. When asked when she would put forward a plan to fix Social Security, Pelosi responded: "Never. Is never good enough for you?"

This combination of policies--raid, ration, raise taxes, & deny the problem--will mean painful benefit cuts for current seniors and huge tax increases on younger working families, robbing them of the opportunity to save for their own retirements.

What would have happened if Trust Fund were in stock market?

But Reid wouldn't let her off the hook: "Now she talks about, and has for years talked about, getting rid of Social Security. For years. Look what would have happened had we put this money in the stock market as was suggested by President Bush. This is an extreme idea, and it will destroy Social Security."

Bush’s plan guarantees a 40% benefit cut

The Bush plan would take our already record high $4.3 trillion debt and put us another $2 trillion in the red. That’s an immoral burden to place on the backs of the next generation.

But maybe most of all, the Bush plan isn’t really Social Security reform. It’s more like Social Security roulette. Democrats are all for giving Americans more of a say and more choices when it comes to their retirement savings. But that doesn’t mean taking Social Security’s guarantee and gambling with it. And that’s coming from a senator who represents Las Vegas.

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

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."

This body has already closed the door on the President's ill-conceived plan for private Social Security accounts. The opposition to privatization is well-known:
• Privatizing Social Security does nothing to extend the solvency of the program.
• Transition costs would put our Nation in greater debt by as much as $4.9 trillion.
• Creating private accounts would mean benefit cuts for retirees, by as much as 40%.
• Half of all American workers today have no pension plan from their employers. It is critical that we protect this safety net.

Voted NO on Social Security Lockbox & limiting national debt.

Voted NO on allowing Roth IRAs for retirees.

Voted NO on allowing personal retirement accounts.

Voted NO on deducting Social Security payments on income taxes.

Rated 90% by the ARA, indicating a pro-senior voting record.

The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security. The Alliance believes that all older and retired persons have a responsibility to strive to create a society that incorporates these goals and rights and that retirement provides them with opportunities to pursue new and expanded activities with their unions, civic organizations and their communities.

The following ratings are based on the votes the organization considered most important; the numbers reflect the percentage of time the representative voted the organization's preferred position.

Opposes 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"

by NCPSSM indicating a pro-Social Security stance.

An endorsement by the NCPSSM indicates strong belief in preserving Social Security and Medicare (i.e., a strong stance against privatization, and for continued federal government involvement). Their mission statement:

"The National Committee to Preserve Social Security and Medicare is one of the most effective and trustworthy sources for Social Security, Medicare and Medicaid advocacy. Since 1982, we have been working for generations of older Americans who want our nation’s health and income security programs secured for the future. Join us and learn more about how you can be a part of our intergenerational crusade."

Rated 95% by ARA, indicating a pro-Trust Fund stance.

Scoring system for 2014: Ranges from 0% (supports privatization and other market-based reforms) to 100% (supports keeping federal control over Trust Fund and Social Security system).

About ARA (from their website, www.RetiredAmericans.org):

The Alliance for Retired Americans is a nationwide organization, founded in May 2001, with now over 4.2 million members working together to make their voices heard in the laws, policies, politics, and institutions that shape our lives. The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security.

• Alliance members visit the polls in record numbers. We use the power of our membership and our Congressional Voting Record to educate and mobilize seniors to elect leaders committed to improving the lives of retirees and older Americans.
• We are effectively warding off cuts to our most important social programs like Social Security and Medicare. Our Human Chain Against the Chained CPI events in the summer of 2013 took place in more than 50 cities and mobilized support for stopping this cut to earned Social Security benefits.
• We blocked the privatization of Social Security with our Social Security "Truth Truck" delivering 2.1 million petitions to Members of Congress and other tactics.
• The Alliance makes its voice heard on the issues that matter not just to current retirees, but to all Americans who hope to retire one day. We were a leading voice in recent debates considering changes to Medicare, like replacing guaranteed benefits with a voucher system, and remain so in 2014.