Levin to voters_ look past trump’s rhetoric on social security _ pj media how to reduce market risk
Rep. Global solutions group Sander Levin (D-Mich.) urged voters to consider what Republican leaders have said in the past about reforming Social Security before they head to the polls, rather than GOP presidential nominee Donald Trump’s rhetoric on the issue now.
“As we look ahead, not only these next four weeks, but most importantly what happens next year once we face up to issues regarding Social Security, I think everybody has to understand where the Republicans have been going back many years, highlighting what President Bush said in ’05, what Paul Ryan said in ’10, what the platform says now and Trump, despite what he says now, what he said in the year 2000,” Levin said on a conference call sponsored by the organization Americans United for Change, which just released their report, Social Insecurity:
GOP Plans Another January Surprise Attack on Earned Benefits.
When asked how the group knows the GOP is going to make a push for reforming Social Security in January of next year, Levin responded, “We’re not 100 percent sure of anything and obviously it depends on the votes of the election and I won’t get into that – it’s a long political discussion.”
Levin, ranking member on the House Ways and Means Committee, said the purpose of the call was to make it clear where the Republican Party has been “coming from and therefore where they’re most likely to go.”
Levin criticized House Speaker Paul Ryan’s (R-Wis.) plan to reform Social Security, which he originally pitched back in 2010, because it allowed workers to place 40 percent of their payroll taxes into private retirement accounts.
Levin argued that the Republican Party’s platform takes the wrong approach by signaling that all options are on the table for reforming Social Security.
According to the projections in the latest Social Security Trustees report, Social Security’s “combined trust fund reserves” for retirement and disability will become “depleted” in 2034.
“Privatization would be good for all of us. Managing the risks of organizational accidents Directing Social Security funds into personal accounts invested in real assets would swell national savings, pumping hundreds of billions of dollars into jobs and the economy. Market risk management in banks ppt These investments would boost national investment, productivity, wages and future economic growth,” he wrote in 2000.