McCain is Right on Social Security
McCain is Right on Social Security
Washington – The Club for Growth praised John McCain for his support of personal savings accounts for Social Security even in the face of a fresh deluge of criticism from the Left.
A long-time supporter of personal savings accounts, McCain was attacked anew by the liberal media for reiterating his support in a Wall Street Journal interview for the kind of market-based reforms that will give workers a greater return on their Social Security taxes and relieve them from the ball and chain of government dependence.
The Left continues to attack McCain—as they did President Bush—for wanting to dismantle Social Security, but this line of attack is political demagoguery at its best. McCain actually wants to increase benefits by giving workers the freedom to invest their payroll taxes in the market. This way, their taxes can grow and accumulate as financial assets do, instead of forcing workers to send their hard-earned money to Washington so Congressional Members can spend it on Bridges to Nowhere and Hippie Museums. In contrast, Senators Obama and Clinton have embraced or contemplated raising Social Security taxes in order to maintain the program’s solvency—a short-term solution that further exacerbates the already meager returns workers receive on the taxes they pay into the program.
Furthermore, Senator McCain is the only candidate in this race to oppose raiding the Social Security Trust Fund for other government programs. Both Senators Obama and Clinton have voted to continue raiding the Trust Fund, preferring to spend America’s payroll taxes on wasteful government programs and pork projects (Roll Call #89, 03/22/07).
“When it comes to tackling Social Security’s impending crisis, it is clear that Senator McCain is the only candidate in this race willing to stand up for taxpayers,” said Club for Growth President Pat Toomey. “We encourage the Senator to continue to make the case for market-based reforms of Social Security to the American people. American taxpayers deserve more than the tax increases and wasteful spending Senators Obama and Clinton are offering them.”
PAID FOR BY CLUB FOR GROWTH PAC AND NOT AUTHORIZED BY ANY CANDIDATE OR CANDIDATE'S COMMITTEE. 202-955-5500.
Posted at Press Release at 2:50 PM | TrackBack
