Kerry Opposes Personal Retirement Accounts But Willing to Cut Benefits and Increase Taxes

New Hampshire Citizens for a Sound Economy (NH CSE) State Director Chuck McGee today rebuked Sen. John Kerry for suggesting that Social Security could be strengthened by raising taxes and reducing benefits.

“Today, as NH CSE and For Our Grandchildren mails its Presidential Candidate Social Security Reform Pledge, Sen. Kerry is offering the exact remedies that we hope to avoid. While we are glad to see Sen. Kerry and, now too Governor Dean, publicly recognizing that Social Security is in jeopardy, their suggestions would make worse, especially for today’s younger workers, an already unfair system,” said McGee

“Raising taxes, increasing the retirement age and reducing benefits is exactly the kind of “reform” that the CSE and For Our Grandchildren partnership is fighting to avoid and it is the kind of “reform” that even the AARP refuses to endorse,” continued McGee.

Sen. Kerry’s remarks came just last Thursday during a campaign swing through Iowa were Boston Globe reporter Glen Johnson reported Sen. Kerry making the following statements:

“I am blessed to be wealthy”

“Maybe people ought to pay up to $100,000 or $120,000 (Social Security payments on income), I don’t know.”

NH CSE and For Our Grandchildren believe real reform should not include higher taxes, increased retirement ages and reduced benefits, but should address the long term demographic effect of soon having only two workers to support each retiree.

“When the candidates for president receive our Presidential Candidate Social Security Reform Pledge and letter we hope they will give serious consideration to signing the pledge and supporting personal retirement accounts,” said McGee. McGee continued, “Just last month the Government Accounting Office (GAO) reported, and supported our research, that by the year 2018 Social Security will expend more than it collects and by the year 2042 the system will be entirely bankrupt.”

“NH CSE and For Our Grandchildren will demand that candidates for president present voters with more than a non-plan such as Sen. Kerry has done. The politics of scaring grandma and offering recycled, tinker-around-the-edges, solutions will not fly in 2004,” concluded McGee.