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Mon Oct 14, 2019, 07:03 PM

Beto O'Rourke: The Retirement Survey

Yahoo Finance and the Funding our Future campaign (an alliance of organizations dedicated to making a secure retirement possible for all Americans) teamed up to get more details on where the 2020 candidates for president stand on retirement. According to a recent Gallup poll, “Not having enough money for retirement” is a top financial worry among Americans yet the issue has received minimal attention thus far on the campaign trail. During the September debate, the words “Social Security” or “Retirement” weren’t uttered, according to ABC’s transcript.

The following are the responses from Beto O’Rourke, the former Congressman from Texas.

Will you address the coming insolvency of Social Security’s Old-Age and Survivors Insurance trust fund in your first term as president? If so, what specific policies will you advance?

Beto believes Social Security is a sacred trust—a promise from our government that if you work hard, you’ll have what you need when you retire. We need to strengthen both its benefits and financing. That is why Beto will champion passage of the Social Security 2100 Act while in Congress and why he will sign it into law as president. This legislation includes a 2 percent across-the-board increase in Social Security benefits in addition to cutting taxes on most seniors’ benefits and increasing the minimum Social Security benefit. This bill also guarantees the viability of Social Security well into the next century by, for example, ensuring that, millionaires and billionaires no longer pay proportionately less in Social Security taxes than truck drivers and nurses.

Should every person who pays into Social Security be eligible for full benefits, regardless of their socioeconomic status? In other words, will your plan include means testing? Will your plan include raising the retirement age or other benefit reductions?

Beto will fight to ensure every American receives their full Social Security benefits. He will oppose any effort to cut Social Security benefits. He will continue to combat efforts to privatize the program. And he will continue his opposition to raising the retirement age.

Read more: https://finance.yahoo.com/news/beto-o-rourke-the-retirement-survey-155631931.html

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