Saturday, June 16, 2012
When it comes to Social Security, Rory has a plan
From the Times Ledger:
State Assemblyman Rory Lancman (D-Fresh Meadows) went on the offensive Tuesday, saying he is the only candidate in the race for the newly created congressional seat centered around Flushing who has a plan to fix Social Security.
“Our seniors, and those who will soon become seniors, deserve more than a head-in-the-sand approach to Social Security from their member of Congress,” Lancman said. “And so far I’m the only candidate in this race that has offered a real plan to save Social Security without reducing benefits, raising the retirement age or privatizing Social Security altogether.”
Lancman favors eliminating an exemption on Social Security taxes paid on an individual’s income over $110,600. If the exemption is eliminated, he said, the program would remain solvent for another 75 years. It is widely predicted that by 2033 the program will be unable to provide 100 percent coverage to seniors if no legislative action is taken.
Lancman blasted his opponents, City Councilwoman Elizabeth Crowley (D-Middle Village) and state Assemblywoman Grace Meng (D-Flushing), for what he called their idea that job growth alone will allow more people to pay into the system.
But the two candidates countered that the increase in Social Security payments would essentially be a tax.