HARRIS: No Privatization of Social Security
Harris believes that the Social Security system should remain entirely and permanently under federal control, with no movement whatsoever toward any degree of privatization.
WALZ: No Privatization of Social Security
Walz likewise believes that the Social Security system should remain entirely and permanently under federal control, with no movement whatsoever toward any degree of privatization.
TRUMP: Favors Some Privatization of Social Security
Trump believes that people should have at least some control over how their retirement funds are invested, including the option of investing their Social Security income in the stock market or some other private investment vehicle.
In his 2000 book The America We Deserve, Trump wrote: “The solution to the Great Social Security crisis couldn’t be more obvious: Allow every American to dedicate some portion of their payroll taxes to a personal Social Security account that they could own and invest in stocks and bonds. Federal guidelines would make sure that your money is diversified, that it is invested in sound mutual funds or bond funds, and not in emu ranches. The national savings rate would soar and billions of dollars would be cycled from savings, to productive assets, to retirement money. And unlike the previous system, the assets in this retirement account could be left to one’s heirs, used to start a business, or anything else one desires…. Directing Social Security funds into personal accounts invested in real assets would swell national savings, pumping hundreds of billions of dollars into jobs and the economy.”