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Should Social Security be privatized?

Candidates' positions are categorized as Pro (Yes), Con (No), Not Clearly Pro or Con, or None Found.
Candidates who have changed their positions are listed as Now their most recent position.
(Candidates are listed in alphabetical order by party; black & white photos indicate candidates who have withdrawn or who no longer meet our criteria.)

Democratic Party (D)
Candidate
Position
  Clinton, Hillary
Con
  Obama, Barack
Con
  Biden, Joe
(Withdrew on
Jan. 3, 2008)
Con
  Dodd, Chris
(Withdrew on
Jan. 3, 2008)
Con
  Edwards, John
(Withdrew on
Jan. 30, 2008)
Con
  Kucinich, Dennis
(Withdrew on
Jan. 25, 2008)
Con
  Richardson, Bill
(Withdrew on
Jan. 10, 2008)
Con
  Vilsack, Tom
(Withdrew on
Feb. 23, 2007)
None Found
Republican Party (R)
Candidate
Position
  McCain, John
Pro
  Paul, Ron
Not Clearly Pro or Con
  Brownback, Sam
(Withdrew on
Oct. 19, 2007)
None Found
  Gilmore, Jim
(Withdrew on
July 14, 2007)
None Found
  Giuliani, Rudy
(Withdrew on
Jan. 30, 2008)
Pro
  Huckabee, Mike
(Withdrew on
Mar. 4, 2008)
Pro
  Hunter, Duncan
(Withdrew on
Jan. 19, 2008)
Pro
  Romney, Mitt
(Withdrew on
Feb. 7, 2008)
Pro
  Tancredo, Tom
(Withdrew on
Dec. 20, 2007)
Pro
  Thompson, Fred
(Withdrew on
Jan. 22, 2008)
Not Clearly Pro or Con
  Thompson, Tommy
(Withdrew on
Aug. 12, 2007)
None Found
3rd Parties / Independents (3rd/I)
Candidate
Position
 Mike Gravel
 (Lib)
Not Clearly Pro or Con
 Keyes, Alan
 (Ind)
Pro
 McKinney, Cynthia
 (Grn)
None Found
 Nader, Ralph
 (Ind)
Con
 Imperato, Daniel
 (Ind)
Pro
 Kubby, Steve
 (Lib)
Pro
 McEnulty, Frank
 (Ind)
Not Clearly Pro or Con
 Smith, Christine
 (Lib)
Pro


ISSUES
Abortion
1. Legal option
2. Parental consent
Character
3. Honesty vs. competence
China
4. Threat to U.S.?
5. Human rights

Criminal Justice
6. Felon voting
7. Rehab vs. incarceration
Cuba
8. Embargo
Darfur
9. Genocide

Death Penalty
10. Legal option

Defense
11. Missile defense shield

District of Columbia
12. Statehood

Economy
13. Outsourcing jobs
14. Free trade regulations
15. NAFTA

Education
16. No Child Left Behind
17. Increasing costs
18. School vouchers
19. Abstinence only

Election Reform
20. Paper trails
21. Campaign contributions
22. Public financing

Eminent Domain
23. Non-government use

Energy
24. ANWR drilling
25. Price of U.S. gasoline

Environment
26. International agreements
27. Fuel efficiency
28. Global climate change

Gun Control
29. Federal regulations

Health Care
30. Subsidized care
31. Prescription options
32. Fast food and obesity

Immigration
33. Net impact on economy
34. Rights and benefits
35. U.S.-Mexico fence

Iran
36. U.S. military force
Iraq War
37. Was the attack a mistake?
38. Is America safer?
39. Withdrawal timetable

Israel
40. Military and economic aid

Israeli-Palestinian conflict
41. Hamas
42. Palestine

Kosovo
43. Independence

Marriage
44. Constitutional amendment
45. Infidelity

Media
46. Protecting sources

Medical Marijuana
47. Legalization
48. Raids

National I.D.
49. National I.D. card

National Service
50. Draft
51. Gays in the military
52. Mandatory service

Presidential Power
53. Line item veto
54. Unitary executive theory

Religion
55. Faith-based funding
56. Importance to voters

Social Security
57. Privatizing

Stem Cells
58. Federal funding

Taxes
59. Bush tax cuts

Turkey
60. Entering Iraq

U.S. Constitution
61. Alteration

War on Terror
62. Waterboarding
63. Guantanamo Bay
64. PATRIOT Act
65. Warrantless wiretapping



Should Social Security be privatized?

Candidates are listed in alphabetical order. Positions are categorized as Pro (Yes), Con (No), Not Clearly Pro or Con, or None Found.
Candidates who have withdrawn or who no longer meet our
criteria are listed last.

   Pro (Yes)    Con (No)

   Clinton, Hillary (D) - Con

Hillary Clinton, U.S. Senator (D-NY), stated at the Aug. 7, 2007 American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) Democratic Presidential Forum in Chicago, IL:

"We've got to make sure that nobody ever tries to privatize Social Security, something that I fought tooth and nail, with many of you to prevent."
Aug. 7, 2007 Hillary Clinton


Top
     Gravel, Mike (Lib) - Not Clearly Pro or Con

Mike Gravel, former U.S. Senator (D-AK), issued the following statement through his press secretary, Alex Colvin, in a Nov. 9, 2007 email to ProCon.org:

"Congress needs to stop raiding social security."
Nov. 9, 2007 Mike Gravel


Top
   Keyes, Alan (Ind) - Pro

Alan Keyes, former Assistant U.S. Secretary of State, stated in an article titled "Social Security Reform" on his official candidate website (accessed Apr. 4, 2008):

"I strongly support a fundamentally new approach for younger workers, placing them in control of the investments made with their savings dollars. The elimination of the income tax will make tax-privileged 'retirement' accounts irrelevant ? all savings will be tax free. So while I favor the transitional policy of replacing Social Security with individually-controlled tax-free investment accounts, the ultimate solution to the problem of long-term and retirement savings is to return responsibility for this crucial function to the citizens of the country, along with the freedom necessary to accomplish it."
Apr. 4, 2008 Alan Keyes


Top
   McCain, John (R) - Pro

John McCain, U.S. Senator (R-AZ), stated in a June 12, 2006 speech titled "Address to the Economic Club of New York" on his official candidate website:

"I have long supported supplementing the current Social Security system with personal accounts but not as a substitute for addressing benefit promises that cannot be kept."
June 12, 2006 John McCain


Top
 
    McKinney, Cynthia (Grn) - None Found
 
 
ProCon.org emailed the McKinney campaign on Mar. 26, 2008 with this question. We had not received a reply or found a position as of Apr. 11, 2008.
 


Top
   Nader, Ralph (Ind) - Con

Ralph Nader, attorney, author, and political activist, stated in a Jan. 21, 1999 speech at the "Saving Social Security From the Privatization Threat" Conference held in the Rayburn House Office Building of the U.S. House of Representatives:

"The various Social Security privatization schemes, full and partial, would cost both the 'social' -- that is the public, cooperative, societal -- element of the program and 'security' -- the rock-solid income guarantee afforded by the system. It should be rejected."
Jan. 21, 1999 Ralph Nader


Top
   Obama, Barack (D) - Con

Barack Obama, U.S. Senator (D-IL), in the Sep. 26, 2007 Dartmouth Democratic Debate in Hanover, NH, stated:

"...[W]e should be willing to do anything that will strengthen the system to make sure that we are being true to the sake of trust of those who are already retired as well as young people in the future.

And we should reject things that will weaken the system, including privatization, which essentially is going to put people's retirement at the whim of the stock market."
Sep. 26, 2007 Barack Obama


Top
     Paul, Ron (R) - Not Clearly Pro or Con

Ron Paul, U.S. Representative (R-TX), in a Jan. 24, 2005 article titled "Want to Reform Social Security? Stop Spending" on his U.S. Congressional website, stated:

"The administration speaks of private accounts, but government-managed investment of Social Security funds is not privatization at all. True capitalism by definition operates without government interference, and we should oppose further government involvement in the financial markets. After all, which government officials will decide what stocks, bonds, mutual funds, or other investment vehicles are approved? Which politicians will you trust to decide what your portfolio may contain? Imagine the lobbyists fighting over which special interests will have their favored investments approved for Social Security accounts. Political favoritism, rather than market performance, will determine what investments are allowed, and Social Security in essence will become a huge source of taxpayer-provided investment capital.

If the administration truly wants to give people more control over their retirement dollars, why not simply reduce payroll taxes and let them keep their own money to invest privately as they see fit? This is the true private solution."
Jan. 24, 2005 Ron Paul

CANDIDATES WHO HAVE WITHDRAWN OR WHO NO LONGER MEET OUR CRITERIA
    Biden, Joe (D) - Con

Joe Biden, U.S. Senator (D-DE), stated in an article titled "A Secure Retirement: A Promise to Keep" on his official candidate website (accessed Nov. 16, 2007):

"Protect Social Security, Not Privatize It: Social Security is the foundation of retirement security for millions of Americans. For a typical worker retiring at age 65, Social Security replaces 40 percent of pre-retirement income. Joe Biden opposes privatization of Social Security."
Nov. 16, 2007 Joe Biden


Top
     Brownback, Sam (R) - None Found  
Withdrew on Oct. 19, 2007; no position found as of that date


Top
   Dodd, Chris (D) - Con

Chris Dodd, U.S. Senator (D-CT), stated at the July 23, 2007 CNN/YouTube Democratic Presidential Debate in Charleston, SC:

"Obviously, I think it would be important to start to address the [Social Security] issue. Certainly, we have no ideas, and I would be totally opposed to the privatization of Social Security. That is a very bad idea and I am glad we rejected it."
July 23, 2007 Chris Dodd


Top
   Edwards, John (D) - Con

John Edwards, former U.S. Senator (D-NC), stated in a Feb. 24, 2004 Washington Post (Associated Press), article titled "Candidates on the Issues: Social Security":

"Privatizing a portion of Social Security would cost the Social Security Trust Fund more than $1 trillion, making it even harder for us to meet our responsibilities to our seniors. This kind of step would also erode the most basic guarantee of Social Security, exposing millions of Americans to an impoverished retirement. But I do support efforts to increase retirement savings outside of Social Security."
Feb. 24, 2004 John Edwards


Top
     Gilmore, Jim (R) - None Found  
Withdrew on Aug. 14, 2007; no position found as of that date


Top
   Giuliani, Rudy (R) - Pro

Rudy Giuliani, former Mayor of New York City, stated in the Oct. 21, 2007 Republican Presidential Debate in Orlando, FL:

"I think the reality is that we have to deal with Social Security.

The first thing we have to do is get a consensus behind private accounts if we're going to change it...

And the fact is, Medicare and Medicaid and presently more expensive than Social Security...

So I think in both cases, if you start to establish a private market, you're going to be able to figure out how to solve these things within costs that are sustainable."
Oct. 21, 2007 Rudy Giuliani


Top
   Huckabee, Mike (R) - Pro

Mike Huckabee, former Governor of Arkansas, stated at the Oct. 21, 2007 Republican Presidential Debate in Orlando, FL:

"The president had the right idea, but he used the wrong word. When he used the word privatization, it scared the daylights out of a lot of people...

The right word is personalization. Empower individuals to have a greater say over their money. And that's what it is. Keep the government from robbing the trust funds, which is something that, if it was done in the private sector, would get a guy in jail. One thing, when people reach retirement age, if they really have enough retirement benefits, they don't need Social Security for the long term, give them the option of one-time buyout, or the opportunity to purchase an annuity, with their funds, tax-free, that frees up the long-term obligation of the government."
Oct. 21, 2007 Mike Huckabee


Top
   Hunter, Duncan (R) - Pro

Duncan Hunter, U.S. Representative (R-CA), on Sep. 17, 2007, responded Yes to the following Republican Values Voter Presidential Debate question:

"Would you revive President Bush's attempt to introduce personal retirement accounts as a way to reform Social Security, thus allowing all Americans, particularly low-wage workers & the self-employed, an investment in their future & ownership in the inheritance they pass on?"
Sep. 17, 2007 Duncan Hunter


Top
   Imperato, Daniel (3rd/I) - Pro

Daniel Imperato, an Independent candidate and business entrepreneur, issued the following statement through his press secretary, Joseph Oddo, in a Nov. 30, 2007 email to ProCon.org:

"Partial privatization should be permitted. We need to implement a social security system that is self-sufficient with recurring investment."
Nov. 30, 2007 Daniel Imperato


Top
   Kubby, Steve (3rd/I) - Pro

Steve Kubby, a Libertarian candidate and founder of the American Medical Marijuana Association, stated in a Nov. 9, 2007 email to ProCon.org:

"Yes. Unfortunately, we are running out of time. Our politicians have been avoiding the 'third rail' of Social Security reform for so long that it is fast approaching a point of catastrophic collapse. I cannot claim to have all the answers, but my commitment is to get America's younger workers off this runaway train, allow them to make their own retirement investment decisions, and try to phase out Social Security in the manner that least injures those who have been trapped in a failed system for their whole working lives."
Nov. 9, 2007 Steve Kubby


Top
   Kucinich, Dennis (D) - Con

Dennis Kucinich, U.S. Representative (D-OH), stated in a Feb. 8, 2006 press release titled "Kucinich: Bush Proposes Stealth Social Security Privatization Plan in Budget":

"Despite a bipartisan rejection to the President's plan to privatize Social Security and shift the nation's retirement system from Main Street to Wall Street last year, the President is trying to bury his ill-advised and misguided plan in his new massive budget request sent to Congress Monday.

The President's stealth Social Security privatization plan would take more than $700 billion, over seven years, in guaranteed retirement security from millions of Americans and gamble it in the stock market...

Last year when the public learned about the issue they rejected the President's approach. Despite his attempt to sneak it past the public, I am confident once attention is brought to his stealth privatization plan the American public will reject it again."
Feb. 8, 2006 Dennis Kucinich


Top
         McEnulty, Frank (3rd/I) - Not Clearly Pro or Con

Frank McEnulty, an Independent candidate and President of Our Castle Homes, in a Nov. 13, 2007 email to ProCon.org, stated:

"Not completely, but I am for partial Social Security savings accounts for individuals.

Social Security was established as a safety net for people at a time when people were not expected to live much past the age when Social Security became effective. Fortunately for us, but unfortunately for the program, people are living much longer these days and are also able to work much longer. I believe that for Social Security to continue to be a viable program for future generations that the retirement age at which one may start to collect social security must continue to increase."
Nov. 13, 2007 Frank McEnulty


Top
   Richardson, Bill (D) - Con

Bill Richardson, Governor of New Mexico, stated in the July 23, 2007 CNN/You Tube Deocratic Presidential Debate in Charleston, SC:

"Social Security -- stop raiding the Social Security trust fund. Stop talking about privatization."
July 23, 2007 Bill Richardson


Top
   Romney, Mitt (R) - Pro

Mitt Romney, former Governor of Massachusetts, stated in the Oct. 21, 2007 Republican Presidential Debate in Orlando, FL:

"Currently, we're taking more money into Social Security that we actually send out. So our current seniors, their benefits are not going to change. For people 20 and 30 and 40 years old, we have four major options, for instance, for Social Security. One is the one Democrats want: raise taxes. It's the wrong way to go.

Number two, the president said let's have private accounts and take that surplus money that's being gathered now in Social Security and put that into private accounts. That works."
Oct. 21, 2007 Mitt Romney


Top
   Smith, Christine (3rd/I) - Pro

Christine Smith, a Libertarian candidate and a social and political activist, stated in a Dec. 5, 2007 email to ProCon.org:

"Yes."
Dec. 5, 2007 Christine Smith


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   Tancredo, Tom (R) - Pro

Tom Tancredo, U.S. Representative (R-CO), stated in an article titled "On the Issues" on his official campaign website (accessed Dec. 3, 2007):

"There is no question that the system is broken. Projections show that by 2016, the only way to avert its collapse will be deep cuts in benefits, heavy borrowing, or substantial tax hikes. The best suggestion I have heard is to switch from a defined benefits approach to a defined contribution approach with payroll tax funded private investment accounts. These accounts would be made available to young workers and function similarly to 401Ks."
Dec. 3, 2007 Tom Tancredo


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     Thompson, Fred (R) - Not Clearly Pro or Con

Fred Thompson, former U.S. Senator (R-TN), stated in a Nov. 29, 2007 article titled "Saving and Protecting Social Security: A Plan to Ensure Retirement Security for All Americans" on his official candidate website:

"Fred Thompson believes that workers should have the option of making contributions to voluntary Personal Retirement Accounts, which will work like a 401(k) plan, and thereby permit all American workers to participate in the expansion of wealth in America. Specifically, he proposes that Social Security establish voluntary Personal Retirement Accounts (PRAs) for which:
  • Each worker would automatically contribute 2% of his/her wages into a voluntary Personal Retirement Account.
  • This employee contribution would be matched by 2.5 for 1 ($2.50 for every $1 dollar contributed) on the contributions from the first $1000 of wages earned each month. The match would be made from existing contributions.
  • All additional contributions would be matched fifty cents on the dollar.
  • If a worker does not want to participate in the voluntary PRA, he/she could 'opt out' of the program at the beginning of each year."
    Nov. 29, 2007 Fred Thompson

  • Top
         Thompson, Tommy (R) - None Found  
    Withdrew on Sep. 12, 2007; no position found as of that date


    Top
         Vilsack, Tom (D) - None Found  
    Withdrew on Feb. 23, 2007; no position found as of that date

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