To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors.
Grace Napolitano
To allow all U.S. workers to ...
Quotes from the same author
Even without reforms, the Social Security fund will be able to meet 100 percent of its obligations until 2042.
Grace Napolitano
A Congressional Budget Office report released as recent as June 2004 says the system will be able to pay full benefits until 2052, and 80 percent after that.
Grace Napolitano
If Congress doesn't raise taxes, you cannot get a private investment account without forgoing a portion, possibly all, of your guaranteed benefit check.
Grace Napolitano
Because of their low earnings and family obligations, Latinas would not be putting much money into private investment accounts. An average Latina could wind up losing thousands of dollars under this proposal.
Grace Napolitano
We must explain the truth: There is no free lunch.
Grace Napolitano
