Introducing Private Accounts into Social Security Would Radically Cut Iowans’ Guaranteed Benefits, and Entrust Their Retirement Security to Wall Street

In 2005, Americans from across the political spectrum voiced their opposition to the Bush Administration’s attempt to largely privatize Social Security. His plan to replace nearly half of Social Security’s guaranteed benefits with risky, expensive, private accounts was soundly defeated. Yet occasionally, Wall Street backed politicians resurrect this reckless idea. In such cases, it is important to recall why privatizing Social Security was rejected in the first place – even before the market crash of 2007/8.

Introducing Private Accounts into Social Security Would Radically Cut Iowans’ Guaranteed Benefits, and Entrust Their Retirement Security to Wall Street