Ron Paul 2008 › Issues › Social Security
Our nationâ€™s promise to its seniors, once considered a sacred trust, has become little more than a tool for politicians to scare retirees while robbing them of their promised benefits. Today, the Social Security system is broke and broken.
Those in the system are seeing their benefits dwindle due to higher taxes, increasing inflation, and irresponsible public spending.
The proposed solutions, ranging from lower benefits to higher taxes to increasing the age of eligibility, are NOT solutions; they are betrayals.
Imposing any tax on Social Security benefits is unfair and illogical. In Congress, I have introduced the Senior Citizens Tax Elimination Act (H.R. 191), which repeals ALL taxes on Social Security benefits, to eliminate political theft of our seniorsâ€™ income and raise their standard of living.
Solvency is the key to keeping our promise to our seniors, and I have introduced the Social Security Preservation Act (H.R. 219) to ensure that money paid into the system is only used for Social Security.
It is fundamentally unfair to give benefits to anyone who has not paid into the system. The Social Security for Americans Only Act (H.R. 190) ends the drain on Social Security caused by illegal aliens seeking the fruits of your labor.
We must also address the desire of younger workers to save and invest on their own. We should cut payroll taxes and give workers the opportunity to seek better returns in the private market.
Excessive government spending has created the insolvency crisis in Social Security. We must significantly reduce spending so that our nation can keep its promise to our seniors.