Blog: Knott Corrects Hill and Pledges to Protect Social Security

Statement

In his July 12 press release, incumbent Congressman Baron Hill pledged to oppose Social Security reform saying "if you're going to privatize it and allow people to invest into the stock market, a lot of people would be in serious trouble with social security. Because of the fall of the stock market, that's the problem I have with it."

Greg Knott, the 9th District Libertarian nominee, responded to Hill's statement saying, "We deserve more from our elected officials than straw man arguments concocted to deceive the public. We can all agree that social security should not be privatized and that retirement savings should not be put at risk in the volatile stock market. Far from a risky privatization, The Roadmap for America's Future is a government run plan that gives everyone the investment options that are currently available only to Congressmen and Federal Employees in the Thrift Savings Plan (TSP). It guarantees current retirees and those close to retirement will continue to receive full benefits, and gives workers 55 and younger the opportunity to direct part of their social security contributions into a personal account. The plan states, "individuals who choose to invest in personal accounts will be ensured every dollar they place into an account will be guaranteed, even after inflation. With the recent market downturn, individuals must be assured their retirement is secure. By guaranteeing the dollars put into an account, individuals can be assured that a large-scale market downturn will not cost them their Social Security personal accounts.'"

Asked if he would also pledge to protect Social Security from privatization, Knott replied, "Yes, I will! Now, will Baron Hill co-sponsor The Roadmap for America's Future to protect Social Security from Congressmen who continue to raid the trust fund? Will Hill join me in bringing social justice to social security? The current social security system discriminates against low-income and minority workers who have a shorter life expectancy and draw fewer benefits. The Roadmap plan states, "according to a distributional analysis by the Congressional Budget Office, lower-income workers should see an increase in their benefits above currently scheduled benefits.' Does Baron Hill really want to block increased benefits for the retirees who need it most? If Hill won't protect social security with this progressive reform then fire him in November and hire someone who will."

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