Thaddeus McCotter - Social Security
Summary
Congressman McCotter has not been vocal on social security throughout his tenure in office. His 2012 Presidential website refers to social security as the largest ponzi scheme in history and states that it is only a matter of time before it collapses. He states that we must honor our promises to seniors, but that workers should be allowed to choose personal retirement accounts for part of their social security benefits. He states that retirement accounts would increase future retirement benefits and provide for future solvency.
2012 Presidential Campaign Website Statements
Ending the Retirement Ponzi Scheme
In its current form, America’s Social Security system is the largest Ponzi scheme in history, and it is only a matter of time before it collapses under the weight of federal debt and failed national leadership. The time to act is now. We must fulfill our promises to those generations of Americans who have contributed so much to our nation, but the current Social Security system is unsustainable. America’s retirement system must empower workers with the freedom to choose personal savings and investment account options for part of their Social Security benefits, with no benefit cuts or tax increases of any sort, now or in the future. Personal retirement accounts would increase future retirement benefits, and lead to future cuts in taxes. Social Security modernization with personal accounts would achieves full and permanent solvency for Social Security.
Sponsored and Cosponsored Legislation
Social Security Fairness Act of 2009 - Cosponsor
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to repeal: (1) government pension offset requirements applicable to husband's and wife's insurance benefits, widow's and widower's insurance benefits, and mother's and father's insurance benefits with respect to OASDI payments; and (2) windfall elimination requirements with respect to computation of an individual's primary insurance amount.
Social Security Fairness Act of 2007 - Cosponsor
To amend title II of the Social Security Act to repeal the Government pension offset and windfall elimination provisions.