Marco Rubio: 5 ways to fix Social Security

Discussion in 'Too Hot for Swamp Gas' started by busigator96, May 16, 2014.

  1. busigator96
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    busigator96 Premium Member

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    It's no secret that Social Security needs fixing in order to remain sustainable for the long-term. But lawmakers have been hesitant to touch the hot-button issue even though it's a major source of income for millions of retirees.
    At a speech at the National Press Club in Washington, D.C., on Tuesday, Senator Marco Rubio took on the issue, proposing a series of changes that he said would modernize the program in light of longer life expectancies and a growing elderly population.

    http://money.cnn.com/2014/05/14/ret...ampaign=Feed: rss/money_pf (Personal Finance)
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  2. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Sounds good to me. But the freeloaders will whine from the tree-tops and caves they dwell in.
    Last edited: May 16, 2014
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  3. tim85
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    tim85 Well-Known Member

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    Republicans don't have ideas though.

    There are some interesting things, I would think Democrats would back this :

    "Reduce benefits for wealthy seniors: Noting that wealthy retirees rely on Social Security for a smaller portion of their monthly finances thanseniors with low incomes, Rubio proposed reducing the growth of benefits for those higher-income seniors, while "making the program even stronger for lower income seniors."

    He did not provide details as to how the benefit changes would workor what income levels would be affected."
    Last edited: May 16, 2014
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  4. chemgator
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    chemgator Well-Known Member

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    Nice attempt at a policy speech. But he'll be slaughtered in the polls if he keeps peeing on the third rail of politics. Changing SS is political suicide.
  5. 108
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    108 Premium Member

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    i wouldn't call these "Republican ideas", they have been out there for a while...but props to Rubio for going against the "kill SS" vein of the conservative movement

    that being said, i would like to see some of these implemented
  6. RealGatorFan
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    If we don't address it soon, it's the death of the US.
  7. RealGatorFan
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    I wouldn't say kill SS, but change it. I like his idea for entry into the federal 401K program for those that don't have access to a 401K. Considering 67% of the country works for a small business where half don't have access to a 401K, it's a good idea.
  8. QGator2414
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    QGator2414 VIP Member

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    While I certainly prefer to create a true safety net...

    This is an excellent step in the right direction!

    And I assume you probably have me pegged as a "kill SS" guy....
  9. chemgator
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    chemgator Well-Known Member

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    Can't anybody start an IRA on their own? Talk to a broker, or contact a mutual fund company? Doesn't an IRA have the same tax benefits as a 401k? I've never opened an IRA other than my Roth IRA (which is funded with after-tax money), so I'm not sure. I don't want the government involved in something if it doesn't have to be.
  10. chemgator
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    chemgator Well-Known Member

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    I hear you, but the average American is too stupid to understand the need to take action, and too selfish to sacrifice anything from their own pockets. If Rubio were to run for president with this as one of his platforms, he would get slaughtered. Hillary herself gave a speech a couple days ago where she clung to Bill's coat-tails and insinuated that Bill was responsible for all of the jobs created in the 1990's, which is of course, retarded. (Asking the Clintons for advice on managing the economy is like asking a lottery winner for advice on investing.) Americans want to be promised good times, not sacrifice and responsibility. Rubio should promise America a gov't-sponsored intern in every office building. That should get Bill on board the Rubio Express, and Hillary would have a hard time running for president if Bill were campaigning for the opponent.

    We only have a couple years to reform the education system before the next presidential election.
  11. busigator96
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    busigator96 Premium Member

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    Yes. However, many 401K plans have a company match up to a fixed percent of a person's income...like 3%.
  12. g8orbill
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    g8orbill Gators VIP Member

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  13. gatordpm
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    gatordpm Premium Member

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    So you would want the government to match 401k contributions? The average person can put away 5500 into a roth and 5500 into a traditional IRA. I think they should start doing that first before we talk about adding a 401k system.

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