Rob Simmons : 2nd District of Connecticut

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Social Security

When I first ran for Congress in 2000, I presented my views in a small booklet where I opposed ‘privatizing’ Social Security. By this I meant that Social Security taxes should be used principally for the payment of Social Security benefits, and they should not be diverted to private accounts.

At the same time, I supported personal savings accounts such as Individual Retirement Accounts or IRAs, 401(k) accounts, Health Savings Accounts (HSAs) and other new, tax-deferred accounts that encourage individual savings. These personal savings accounts do not draw from Social Security revenues, and provide needed incentives to younger workers like my daughter Jane and son Robert.

I visualized a two-tiered system where the Social Security system is the foundation of retirement security, and other personal savings accounts become a second tier. While the two tiers complement each other, they are separate and unique.

In the booklet, I wrote: "I believe in a two-tier Social Security system. The foundation is the current system with all benefits intact and with all Social Security tax dollars dedicated to Social Security benefits. I will vote against any bill that takes Social Security tax dollars and diverts them to any other purpose than Social Security benefits. The second tier promotes private savings and investment. In this plan younger workers are allowed to invest increased amounts of current wages into IRA and 401(k) accounts."

This was my position as a candidate in 2000, it was my position during my previous terms in Congress and it remains my position today. This position has been part of the public record. It has been clearly and consistently stated in hundreds of letters that I have sent to constituents in Eastern Connecticut. To say otherwise is misleading and deceptive.

There is much to be done in Congress during this two-year session. Protecting our homeland, providing for our troops in Iraq, shoring up Medicare and its prescription drug benefit, putting forth a highway bill to address our nation's transportation needs, working to save the Groton Submarine Base and providing good-paying jobs for the region are just a few issues that are as important as Social Security reform.

Nevertheless, it is clear that Congress will soon begin debating Social Security reform. If that is the case, Connecticut's seniors and younger workers can count on me to continue to support a “two-tier” Social Security system that keeps the foundation of Social Security intact while promoting personal savings and investment for future generations.