Posted on 05/13/2014 1:15:06 PM PDT by SeekAndFind
WASHINGTON (AP) — Younger workers would face higher retirement ages and wealthier Americans would see their Social Security paychecks trail their less affluent neighbors under a plan proposed Tuesday by Sen. Marco Rubio.
Rubio, a first-term Republican senator from Florida who is outlining a policy agenda as he weighs a presidential bid, also proposed allowing all Americans to join federal retirement accounts. He vowed to protect benefits for older Americans but he added that changes were needed if the system is to survive.
"The Social Security trust fund is drying up," Rubio said, referring to money collected to pay certain benefits.
He said the safety net for retirees will run into debt in 2033 if changes are not made. "This is not a scare tactic. ... It is a mathematical certainty if things remain unchanged."
Democrats said the Rubio proposal is one similar to Republican Mitt Romney proposed when he unsuccessfully ran for president in 2012.
"Sen. Rubio's plan is just the latest example of the Republican Party's out-of-touch policies that benefit a few instead of extending opportunity for all," Democratic National Committee spokesman Michael Czin said.
(Excerpt) Read more at news.yahoo.com ...
I have a better idea...get rid of the federal retirement plan for ALL of them.
The idea Soc Sec is the ONLY retirement income has been imbedded into idiots for more than 10 years.
Agreed. Congress should by law be subject to the laws they pass, yet they exempt themselves from most of them.
The best method for a happy retirement is not a company pension. It is your own retirement plan implemented by buying index funds on a regular basis. It works 4 to 5 times better than social security for the same amount of money invested as social security tax.
paul ryan and jeb bush are talking about helping the poor. no more worshipping job creators and ‘you didn’t build that’ slogans. compassionate conservatism back in vogue?
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