- Con to the question "Should Social Security Be Privatized?"
“Social Security is a successful intergenerational program that has served this country well…
Privatization is not a plan to save Social Security; it is a plan to dismantle Social Security. Privatization means increased retirement risks, severe cuts in Social Security benefits, and a multi-trillion dollar increase in the federal debt…
Right now, Social Security provides a guaranteed income, paying benefits every month for life, with increases for inflation. After adjusting for risk, Social Security has a rate of return equal to that of any mix of financial assets in private accounts.
And risk must be taken into account, because stock market returns are never guaranteed! As we’ve seen in recent years, returns can fluctuate wildly… With privatization, some might do well, many might lose – but our society would lose the benefit of the sound, basic income security provided by Social Security retirement, disability and survivor benefits…
Privatization is NOT the Answer!”
“The Truth about Social Security and Privatization,” ncpssm.org (accessed May 9, 2017)
“The National Committee to Preserve Social Security and Medicare (NCPSSM) was founded in 1982 by former Congressman James Roosevelt, son of President Franklin D. Roosevelt who signed the Social Security Act into law…
The National Committee to Preserve Social Security and Medicare is the nation’s leading advocacy group that fights to protect Social Security and Medicare. We are a nonpartisan, nonprofit 501(c)(4) organization representing the views of millions of members and supporters nationwide.
NCPSSM receives no federal, state or local government funding, and we do not sell any products, services or goods, which distinguishes us from other national seniors’ organizations. We are a membership organization supported through annual membership dues and contributions. Our NCPSSM members are engaged and actively participate in petition drives, letter campaigns, surveys and polls. To date, more than 88 million petitions and letters to Congress and the President have been signed by our members and supporters…
Through its Political Action Committee, NCPSSM supports incumbents and challengers who have demonstrated a strong commitment to seniors’ issues.”
“Our History,” ncpssm.org (accessed May 22, 2017)
“The mission of the National Committee to Preserve Social Security and Medicare, a membership organization, is to protect, preserve, promote, and ensure the financial security, health, and the well being of current and future generations of maturing Americans.
The National Committee to Preserve Social Security and Medicare acts in the best interests of its members through advocacy, education, services, grassroots efforts, and the leadership of the Board of Directors and professional staff.
The efforts of the National Committee to Preserve Social Security and Medicare are directed toward developing better-informed citizens and voters.”
“Mission Statement of the National Committee,” ncpssm.org (accessed May 22, 2017)
- 501(c)(4) nonprofit
- Quoted in:
- Pro & Con Quotes: Should Social Security Be Privatized?