Toolsview all


Social Security plans lack specifics

 
By The Associated Press | Published: October 19, 2008    Comment on this article Leave a comment

WASHINGTON — Sen. Barack Obama wants to raise taxes on high-income workers to ease Social Security’s looming cash crunch. Sen. John McCain favors voluntary private accounts for younger wage earners.

More Info

CAMPAIGN TRAIL
McCain talks tax issues

CHARLOTTE, N.C. — Republican presidential candidate John McCain on Saturday accused Democratic rival Barack Obama of favoring a socialistic economic approach by supporting tax cuts and tax credits McCain says would merely shuffle wealth rather than creating it.

Palin seeks late rally
LANCASTER, Pa. — Republican vice presidential nominee Sarah Palin on Saturday made a pitch for a ninth-inning comeback from a minor-league baseball field, telling the packed Lancaster Barnstormers stadium that she was counting on Philadelphia Phillies fans to turn "an underdog into a victor.”

From Wire Services

Advertisement

Beyond those generalities — and a shared opposition to raising the retirement age — the rivals are long on commitment and short on specifics when it comes to the retirement program. Three years after the collapse of President Bush’s bid to overhaul the program, Social Security has played a modest role in the campaign.

What Obama says
Obama aired a television ad saying McCain campaigned in favor of Bush’s failed 2005 proposal, which it characterized as "cutting benefits in half, risking Social Security on the stock market.”

In fact, the allegation about cutting benefits was from a study showing that under one scenario, the benefits of higher-income retirees could be cut in half beginning in 2080.

Page 1 of 2

Toolsview all



Related Topics: Public Finance, Business, Economic Issues, Taxes, Privatization and Nationalization, Government and Politics



Leave a Comment

Thank you for joining our conversation on NewsOK.com. We encourage your discussion but ask that you stay within the bounds of our commenting and posting policy. Please help by flagging comments that violate these guidelines. Posts that contain obscene or vulgar language will be immediately flagged and not posted.

If you prefer your thoughts to appear in The Oklahoman, we encourage you to submit a letter to the editor.

Would you like to leave a comment?

Log in or sign up (it's free).

comments powered by Disqus

Ads by Yahoo!

Woman is 51 But Looks 25
Mom publishes simple wrinkle secret that has angered doctors...
ConsumerLifestyles.org
FHA Cuts Refi Requirement
Rates Hit 3.01% APR! Calculate New Mortgage Payment Now.
www.MortgageRatesExperts.com

News Photo Galleriesview all