In 1960, the Supreme Court ruled (Fleming v. Nestor), that US workers have no legally binding contractual rights to their Social Security benefits, and that those benefits can be cut or even eliminated at any time.
According to the latest projections by the Congressional Budget Office (CBO), Social Security benefits must be cut 21% in the year 2034 if nothing is done to fix the system.
Options include: raise taxes, cut benefits, or get a higher rate of return through private capital investment.
I will work to restore Social Security by allowing individuals to privately invest in private retirement accounts, while maintaining benefits to today’s retirees. Allow younger workers to privately invest a portion of Social Security taxes in individual accounts will not only increase retirement security, but it will create a system that treats women, minorities, and young people more fairly.