Political Quotes

Greg Ganske: “I agree with the gentlewoman, let us say that you did set up personal accounts, and how you do that is open to debate…”

On the recordMay 18, 2000
I agree with the gentlewoman, let us say that you did set up personal accounts, and how you do that is open to debate, but let us say that you did that, you reduced the average payroll tax for a worker; let us, say, number one that we are not going to change the benefits for anyone over the age of 50 or 55, but let us say you set up personal accounts with 2 percent, with that 2 percent of the 12.4 percent, my point would be that that is in their name, and as Senator Kerrey says, my goal is to help everyone in this country become richer. That is an automatic increase in wealth for them, but the gentlewoman is absolutely correct. If you take 2 percent out of that 12.4 percent, that is about $1 in $6 of current revenues going into Social Security that is not in that trust fund.
Said by
Greg Ganske
Republican · Iowa
Source
govinfo.gov

Editor's note · Context

Discussing the implications of personal accounts on Social Security during a floor debate.

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