Pence calls for Social Security REFORM, private savings accounts

Yahoo ^ | 2/3/2023 | Tom LoBianco

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Yup. See here

https://finance.yahoo.com/news/column-mike-pence-president-plan-213549823.html

Column: Mike Pence, would-be president, has a plan to kill Social Security. It will cost you

Michael Hiltzik
Mon, February 6, 2023 at 3:35 PM CST

Former Vice President Mike Pence, who is contemplating a presidential campaign, has revived a GOP Social Security plan that crashed and burned in 2005.

Former Vice President Mike Pence dipped his toes into the presidential campaign waters Feb. 2 with a proposal that would mean the death of Social Security.

Pence made his remarks on stage during a conference of the National Assn. of Wholesaler-Distributors in Washington. The event wasn’t open to the public, but a video and transcript was posted by American Bridge, which is affiliated with the Democratic Party.

That’s when Pence unearthed the old Republican idea of privatizing Social Security wholly or partially.

We can replace the New Deal with a better deal.

Former Vice President Mike Pence, airing out a never-fulfilled GOP promise

“Give younger Americans the ability to take a portion of their Social Security withholdings and put that into a private savings account,” he proposed. “A very simple fund that could generate 2% would give the average American twice what they’re going to get back on their Social Security today.”

Pence didn’t say outright that he advocates killing Social Security. Instead, he took the course I reported on just last week. That’s the Republican and conservative habit of employing plausible-sounding jargon and economists’ gibberish to conceal their intention to hobble the program.

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The American Institute for Economic Research (AIER) has an excellent piece on transitioning away from SS without hurting current recipients and allowing for younger earners (~40 and younger) to have their own retirement accounts. The article is entitled “A Way Out”. I urge everyone to read it rather than the bullshit demagoguery coming from the left.