Social Security and Presidential Candidates

In honor of the upcoming presidential election, I’m going to post what Obama and McCain think on some issues relating to social security in hopes that it will help you get to know the possible solutions better and the candidates.

Social Security Privatization-Having a portion of people’s social security payments put into the stock market. (Introduced by President George W. Bush)

John McCain: After many quotes that contradict themselves one can assume that McCain does supports social security privatization but doesn’t use the term to possibly avoid support Bush’s ideas.

Barack Obama: He does not support privatized social security at all because it puts people’s retirement plans on the line by risking it on the stock market.

Payroll Tax Cap-People with incomes of less that $102,000 will pay tax on all of their money but people who exceed that income will pay only for the first $102,000.

John McCain: He does not support tax increases for anyone but if it is needed he will find a compromise that is suitable.

Barack Obama: He want to get rid of the cap so that social security doesn’t favor the wealthy by not having them pay their fair share.

Social Security Retirement Age-Proposed raise to retirement age from 65 to possibly 68 or 72.

John McCain: He supports the possible raising of retirement age because it goes with his plan to improve social security.

Barack Obama: He doesn’t support raising the retirement age because he feels it’s not fair to hardworking citizens when other options to help social security are out there.