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Fred Thompson on Social Security
This candidate has withdrawn from the election
The current path is the only path that won't work.
The bipartisan plan that Senator Thompson has endorsed would put the Social Security program on the path to long-term solvency and would establish an individual savings account for every worker under the age of 55.
Thompson offered a bill in 1999 that would allow "all working Americans to divert a portion of their payroll taxes to a personal savings account that they will own and can pass on to their heirs."
Number one, we've got to make sure we have a growing economy. That means low taxes. That means less regulation. But for future retirees, instead of having nothing, which is what they're headed for under the current situation that's unsustainable, they would have protection, but it would be indexed to inflation instead of wages as it is today.