http://mediamatters.org/tools/syndication/tag_rss/social_security This link is for use by RSS-enabled software to retrieve Media Matters items matching the term: Social Security en-US Copyright 2008, Media Matters for America http://mediamatters.org/items/200810030019 NBC correspondent John Yang falsely asserted, "At current rates, analysts say Social Security will run out of money by 2041." Later, Yang uncritically aired a clip of Sen. John McCain claiming, "The Social Security system is going to go broke; it will not be there for present-day men and women who are working." In fact, the Social Security program will not "run out of money" in 2041; after that point, it is projected that without a change in the law, the program will be able to cover 78 percent of scheduled benefits immediately thereafter, according to the 2008 Social Security trustees' report. http://mediamatters.org/items/200810030019 Fri, 3 Oct 2008 16:16:16 EST http://mediamatters.org/items/200809290017 CNN's Tom Foreman falsely claimed that Sen. John McCain "has always said" allowing young people to set up private Social Security accounts "is not instead of Social Security; this should be in addition to Social Security." In fact, McCain supported President Bush's 2005 Social Security proposal, which would have allowed workers to divert up to 4 percent of their wages into a private account, thereby removing it from the money available to pay Social Security benefits for current retirees. http://mediamatters.org/items/200809290017 Mon, 29 Sep 2008 23:07:26 EST http://mediamatters.org/items/200809230014 In an article, <em>The New York Times</em> suggested that only Democrats use the label "privatization" to refer to proposals like that supported by Sen. John McCain to "invest a portion of their Social Security payroll taxes in stocks and bonds" -- but many Republicans and conservatives, including McCain himself, have used the term "privatization" to describe such a plan for private Social Security accounts. http://mediamatters.org/items/200809230014 Tue, 23 Sep 2008 14:36:16 EST http://mediamatters.org/items/200809190023 The Associated Press reported that Sen. John McCain "says all options must be considered to stave off insolvency for the government insurance and retirement program [Social Security], and top McCain advisers say that includes so-called personal retirement accounts like those President Bush pushed in 2005 but abandoned in the face of congressional opposition." In fact, the Bush administration itself has admitted that private accounts themselves would do nothing to address Social Security's projected long-term revenue shortfall. http://mediamatters.org/items/200809190023 Fri, 19 Sep 2008 19:36:39 EST http://mediamatters.org/items/200809190019 On <em>MSNBC Live</em>, James Pethokoukis claimed that "Senator [John] McCain is not calling for privatizing Social Security. He's talking about perhaps separate accounts, but he's not actually talking about taking your Social Security payments and funneling them in the stock market." In fact, in a March <em>Wall Street Journal</em> interview, McCain reiterated his support for private Social Security accounts that would be funded through existing payroll taxes and could be invested in the stock market. http://mediamatters.org/items/200809190019 Fri, 19 Sep 2008 18:00:07 EST http://mediamatters.org/items/200809190008 On <em>MSNBC Live</em>, David Shuster stated that Social Security "will run out of money unless we make some major changes, at least in the next several years." In fact, according to the 2008 reports by the Social Security and Medicare Boards of Trustees, Social Security will be able to pay full benefits until 2041, at which point it will be able to cover 78 percent of benefits if no legislative changes are made. It will not "run out of money ... in the next several years," or in 2041. http://mediamatters.org/items/200809190008 Fri, 19 Sep 2008 10:58:44 EST http://mediamatters.org/items/200808180005 In a blog post, <em>New York Times</em> reporter Larry Rohter claimed that in a statement in a September 2007 op-ed that "[i]f we kept the payroll tax exactly the same but applied it to all earnings and not just the first $97,500, we could virtually eliminate the entire Social Security shortfall," Sen. Barack Obama was laying out his plan to address future shortfalls in Social Security. Rohter misrepresented the statement, claiming that Obama has now changed his position. But in the op-ed, Obama did not present removing the payroll tax income cap as his "plan" but, rather, as "[o]ne possible option." http://mediamatters.org/items/200808180005 Mon, 18 Aug 2008 15:43:41 EST http://mediamatters.org/items/200807090001 In a <em>Washington Post </em>article, Perry Bacon Jr. listed "allowing younger workers to put money they currently pay for Social Security taxes into personal savings accounts" as one of "an array of ideas" that aides to Sen. John McCain "indicated" he "could support" in "finding a solution to the long-term solvency of" Social Security. But Bacon did not note that the Bush administration has admitted that private accounts themselves would do nothing to address Social Security's projected long-term revenue shortfall. http://mediamatters.org/items/200807090001 Wed, 9 Jul 2008 10:46:25 EST http://mediamatters.org/items/200806130005 The <em>Politico</em>'s Ben Smith falsely suggested that Sen. Hillary Clinton criticized Sen. Barack Obama's proposal to address the solvency of Social Security, which includes raising the payroll tax on workers earning more than $250,000 per year. In fact, while Clinton said in November 2007 that she opposes "lift[ing] the cap completely," she has not said that she opposes raising the cap on payroll taxes if the plan to do so includes a so-called "doughnut hole" exempting those earning less than $250,000 from a tax increase, as Obama has proposed. http://mediamatters.org/items/200806130005 Fri, 13 Jun 2008 15:25:01 EST http://mediamatters.org/items/200806110005 The <em>Wall Street Journal</em>'s Stephen Moore asserted that Sen. Barack Obama "has vowed ... to end the cap on Social Security taxes, which amounts to a tax hike on anyone who makes more than $100,000 in income," and he later asserted that "New York Rep. Joseph Crowley says a couple with earnings of $100,000 could be 'a police officer and nurse.' 'In New York City,' he adds, 'they'd be struggling.' " Moore's inclusion of a reference to "a couple ... [who] could be 'a police officer and nurse' " falsely suggests that Social Security taxes are assessed on households. In fact, Social Security payroll taxes are assessed on individual income. http://mediamatters.org/items/200806110005 Wed, 11 Jun 2008 14:53:20 EST http://mediamatters.org/items/200801230001 CNN senior correspondent Allan Chernoff falsely asserted on <em>The Situation Room</em> that Social Security "will go bust, be out of money, in 2041." In fact, according to a 2007 federal report, "[p]resent tax rates would be sufficient to pay 75 percent of scheduled benefits after trust fund exhaustion in 2041 and 70 percent of scheduled benefits in 2081." http://mediamatters.org/items/200801230001 Wed, 23 Jan 2008 10:36:49 EST http://mediamatters.org/items/200710180003 George Will wrote that Sen. Clinton "stridently opposed" President Bush's "advocacy of personal accounts financed by a portion of individuals' Social Security taxes" and suggested that her recent proposal to offer a matching tax credit to families that invest in 401(k) retirement accounts reflects "an undisclosed epiphany," after which "she belatedly recognizes that 401(k) funds invested in equities are a foundation for security." But contrary to Will's suggestion, Clinton has long expressed support for tax credits for retirement investments, while opposing the diversion of Social Security payments into private accounts. <br /> http://mediamatters.org/items/200710180003 Thu, 18 Oct 2007 11:02:55 EST http://mediamatters.org/items/200708140006 In an editorial, <em>USA Today</em> suggested that President Bush's proposal to "partially privatize Social Security" would have addressed the program's "underfunding time bomb, set to detonate in about a decade." But as <em>Media Matters for America </em>has repeatedly noted, even the administration has acknowledged that its plan for private Social Security accounts -- on their own -- will do nothing to address the "time bomb." http://mediamatters.org/items/200708140006 Tue, 14 Aug 2007 18:46:36 EST http://mediamatters.org/items/200704240008 http://mediamatters.org/items/200704240008 Tue, 24 Apr 2007 18:57:40 EST http://mediamatters.org/items/200605180014 A <em>New York Times</em> article about new Democratic Congressional Campaign Committee radio advertisements on Social Security incorrectly stated that the ads "try to remind those who traditionally vote Republican of their party's plan to add private investment accounts" to the retirement program. In fact, President Bush did not propose adding accounts to the existing system; instead, he proposed allowing workers to divert up to 4 percent of wages (about one-third of their payroll taxes) into a private account, removing it from the money available to pay Social Security benefits for current retirees. http://mediamatters.org/items/200605180014 Thu, 18 May 2006 17:16:04 EST