Tools

Where do they stand? Presidential candidates on social security

By By GARY LIBERATORE

Story Created: Oct 20, 2008 at 1:15 PM EST

Story Updated: Oct 20, 2008 at 4:26 PM EST

(WKTV) - In today's "Where do they Stand", we are looking at where John McCain and Barack Obama stand on the issue of Social Security.

Barack Obama says he will tax those people making over 250 thousand dollars a year, and those taxes will help pay for Social Security in the future.

John McCain on the campaign trail told an audience social security is going broke.

Local McCain campaign organizer Ray Meier says "in the year 2017, not that far off, the amount of money we collect from current payroll taxpayers will not be enough to pay all of the benefits going out and by the year 2042, the system will literally go bust."

McCain says he'd like to see a portion of each worker's Social Security contributions be put into a personal savings account and invested, so that today's workers will have something when they retire.

Most Popular