Social Security

Some GOP Candidates in 2024 Want to Raise the Retirement Age for Social Security

Some GOP Candidates in 2024 Want to Raise the Retirement Age for Social Security. Democratic and Republican candidates in the 2024 presidential race are addressing the sensitive issue of Social Security reform, navigating the challenges associated with proposing changes to the long-standing retirement benefits program.

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Table of Contents

Proposals for Reform

The diverse field of White House hopefuls has put forth various ideas to rescue the struggling retirement benefits program. Broadly categorized, these proposals involve either raising taxes or reducing benefits.

Public Opinion on Reform

Despite the urgency of Social Security’s financial challenges, a significant majority of Americans, approximately 79%, oppose benefit cuts, while 75% are against raising the eligibility age from 67 to 70, according to an April poll by The Associated Press and NORC Center for Public Affairs research.

Trump and Biden Stances

Both former President Donald Trump and President Joe Biden, despite differing views in the past, have pledged to protect Social Security. Trump, who once labeled it a “Ponzi scheme,” has shifted his stance and promised to safeguard the program during his re-election campaign. Biden, too, has assured protection against cuts while proposing additional taxes on wealthy Americans to bolster the program’s funds.

Republican Candidates Perspectives

Several Republican candidates, including Chris Christie, Nikki Haley, and Ron DeSantis, have shared their views on Social Security reform. Christie and Haley expressed support for raising the retirement age, while DeSantis emphasized addressing funding problems through economic growth, specifically targeting inflation.

Vivek Ramaswamy Approach

Biotech entrepreneur Vivek Ramaswamy presented a unique plan to fund Social Security by implementing substantial reduction measures, including the elimination of government agencies and a significant reduction in federal employees.

Underdogs Contributions

Underdog candidates like Asa Hutchinson and Doug Burgum have also weighed in on Social Security. Hutchinson proposed creating a commission, following Ronald Reagan’s example, to make recommendations to Congress. Burgum, focusing on economic growth, suggested reducing federal spending and improving efficiency to address the program’s challenges.

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Conclusion

he 2024 candidates are engaging in a critical debate on Social Security reform, with a range of proposals that reflect the complexity and importance of this longstanding issue in American politics.