from Common Dreams
Republican Sen. Ted Cruz said during a public conference this week that the so-called Trump Accounts established under the GOP’s 2025 budget law represent a viable path toward Social Security privatization—something the Texas lawmaker described as a “dirty little secret.”
During a panel
discussion at the Milken Institute Global Conference in California,
Cruz said that “conservatives in America, for 50 years... have been
trying to do Social Security personal accounts.” Cruz, who lamented the
failure of Bush-era efforts to privatize Social Security, described such
personal accounts as vehicles into which the payroll taxes that finance
current Social Security benefits could be diverted.
In the not-too-distant future, Cruz envisioned, “we’re going to be
able to go to parents and say, ‘Hey, you know that Trump Account your
kid has? ... Wouldn’t you like to be able to keep a portion of your tax
payments that you’re paying already and, instead of sending it to Uncle
Sam, wouldn’t you like to have a Trump Account just like your kid
does?’'’
“My prediction is, within five years, that is going to have a really compelling constituency,” the Texas Republican added...
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