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2016 Republican Candidates' Social Security Plans

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What we know so far about Republican Social Security plans.

Publié dans : Actualités & Politique
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2016 Republican Candidates' Social Security Plans

  1. 1. 2016 Presidential Candidates – As of Feb. 2, 2016 Where Republicans Stand On Social Security 1
  2. 2. Gov. Jeb Bush • Bush wants to raise the full and early retirement ages. • He also wants to cut benefits for higher-income workers. • However, Bush wants to increase the minimum Social Security benefit and eliminate payroll taxes for older workers. • Bush also wants to encourage private savings options, especially for small businesses. 2 February 2, 2016 Michael Vadon
  3. 3. Dr. Ben Carson • Carson wants to gradually raise the full retirement age. • He is also in favor of allowing workers’ payroll taxes to be invested in personal accounts. 3 February 2, 2016 Gage Skidmore
  4. 4. Gov. Chris Christie • Christie wants to raise the age of eligibility, as well as the full retirement age. • He is in favor of switching to a lower price index for calculating cost of living adjustments (COLA), and for reducing benefits for high earners. • However, Christie wants to eliminate payroll taxes for older workers, and give a one- time 5% benefit increase for all retirees over 85. 4 February 2, 2016 Michael Vadon
  5. 5. Sen. Ted Cruz • Cruz wants to eliminate the payroll tax entirely, and to fund Social Security and Medicare entirely from his 10% flat tax plan. • Under Cruz’s plan, the retirement age will gradually increase, and COLA will be calculated with the slower- growing “chained CPI”. • Also, a portion of each individual’s taxes would be placed in a personal account. 5 February 2, 2016
  6. 6. Gov. John Kasich • Kasich’s Social Security plan is based on reducing benefits for high-income earners. • He is also in favor of basing initial benefits as well as increases on wages instead of prices. 6 February 2, 2016
  7. 7. Sen. Rand Paul • Paul wants to raise the full retirement age, and reduce benefits for higher- income earners. • Paul wants to eliminate the payroll tax, and to fund Social Security through his proposed business tax. 7 February 2, 2016
  8. 8. Sen. Marco Rubio • Rubio wants to gradually increase the retirement age, and to reduce the growth rate of benefits for high-income earners. • However, Rubio wants to exempt older workers from the payroll tax, raise benefits for low-income workers, and allow all Americans to participate in the Thrift Savings plan currently available to government workers. 8 February 2, 2016
  9. 9. • Finally, these candidates have not yet released any specific Social Security plans (as of February 2, 2016) – Donald Trump – Carly Fiorina – Rick Santorum 9
  10. 10. 10 You may also enjoy… How to get nearly $16,000 more Social Security income – EACH YEAR

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