William R Whitney III
U.S. Congress 2012
Texas District 4


A Common Sense Constitutional Republican.
A Vote for the People, by the people, and of the people!


SOCIAL SECURITY
Our social security system needs immediate attention so that this country's elderly will have the financial security they require both now and in the future. Social security as it currently stands will run out of funds as soon as 2017. I ask you, why would we continue to run a program that is losing money daily, not do anything about it, and expect it to be there in the future? A business would not be allowed to continue like that so why should we allow our own tax money to be handled in such an inappropriate way? I have a solution to the problem that I think will not only ensure future social security benefits but will also allow people to live comfortably without having to worry in their retirement years. My plan is to have our government invest our tax dollars in interest accruing accounts when an individual is born, our citizens would gain ample interest over the years to allow them to retire comfortably. For example, if the government established an account for all citizens when they were born of approximately $20,000, at an interest rate of 6%, with it being compounded once a year, by the time that individual would be 65 years old they would have approximately $986,000 in that account. If that balance was distributed over 30 years that would come out to approximately $2786 a month. In the long run, citizens would pay less then they currently do towards social security while receiving more in return. Through this program our government has invested our tax dollars into our economy, eventually benefiting the individual and stimulating the economy as well.

For everyone in the current social security system we will find the funds to ensure you get your retirement. You have worked too hard and put too much money into the system for the system to give up on you. We will cut programs that are wastful and redirect those monies to the social security system until the new system takes over.



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