I rise to commend the President for his decision to tackle the social security issue in his tonight's State of the Union Address. I welcome his leadership on this critical issue, and I look forward to his proposal that I hope is complete and that can be scored by the Social Security Administration actuaries in a way that will keep social security solvent. I am encouraged that the President has recognized the power of the capital markets to increase the return on social security taxes, and that he specifically is suggesting investments in the stock market. I urge the President to let workers own these investments themselves, rather than have government use and spend these revenues, as they have the social security trust fund. The Supreme Court has ruled that there is no relation between the taxes that a worker pays and what the worker is entitled to receive in benefits when they retire. This means that worker-owned accounts are the only way to make sure workers benefit from these investments, rather than government.
Editor's note · Context
Commending the President for addressing social security in the State of the Union Address.
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