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Declared 2012 Republican Presidential Candidate
Former Governor of Massachusetts
Mitt Romney
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Romney position on Social Security
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• Mitt Romney has refused to raise taxes as a means for enhancing the social security fund because according to him this would only slow down the economy. He believes that social security can be balanced through measures like encouraging people to invest in personal accounts, changing the retirement age and calculating benefit for wealthy Americans on the basis of Consumer Price Index.
• Mitt Romney has stated that he would excuse any individual over 65 years of age from Social Security taxes as not only would it encourage people to keep working but would also ensure the continued growth of the economy.
• Mitt Romney has taken the stand that he is against cutting benefits for low-income Americans, in favor of tying Social Security benefits to prices and also in favor of bringing together various groups of people to work out a solution to control the rising costs of Medicaid and Medicare.
• Mitt Romney has expressed support for Obama's proposal putting the money attached to Social security in private accounts and has also suggested extension of retirement age and base indexing on prices rather than wages.
• Mitt Romney is of the opinion that Social security and Medicare are two sectors which are in dire need of reforms and restructuring and the only way to achieve this would be for all political parties to sit together behind closed doors and have a comprehensive discussion without letting things get out of control.
• According to Mitt Romney, not only should the political parties be mindful of the expectations of the present recipients but should also take into account the future.
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Barack Obama on Social Security
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