File this under: Whaaaat?
Ron Johnson, in trouble and up for re-election with polling negatives grazing near 50%, has another doozy idea.
Weeks after saying Social Security and Medicare should be subjected to annual budget talks— a stance that caused political blow back from his foes — Johnson once again weighed into America's signature social insurance program.
During a Wednesday campaign stop in Rice Lake, Johnson said Social Security "was set up improperly" and that the system's funds would have been better off invested in the stock market.
That’s right, folks. Right after insisting that Social Security should be re-evaluated and voted on every single year as an “entitlement” (and getting universally panned for that), he’s proposing that Social Security funds should be invested in the Stock Market!
He continues:
In his remarks, Johnson said: "Had we set up Social Security responsibly where we actually took the surplus, took your, you know, what you paid in and invested it in something other than a U.S. government bond, which let's face it, a U.S, government bond in the hands of the U.S. government is worthless ... I know it's a claim, you know, but it has no value. You need outside assets, investments, for example, in the American economy.
Maybe he was in a coma the last couple of times the stock market crashed and took the retirement savings most of our 401K accounts. Or, maybe he thinks the stock market will never, ever crash in the future (pinky swear it won’t, right?). Or, that a program that has paid out every check, in full and on time for 87 years should be subject to the foibles and greed of Wall Street.
When questioned about his bone-headed plan:
"What I want to do is I want to actually look at the problem and try and start fixing it," Johnson said in Rice Lake, according to a recording obtained by the Milwaukee Journal Sentinel. Johnson was responding to a series of questions from one of those attending a meet-and-greet session.
There’s nothing wrong with Social Security that lifting the cap on contributions won’t fix. But that would make rich folks like multimillionaire Ron Johnson pay their fair share on their entire income, not just their first $147,000 of earned income (Wall Street “investors” are exempt because their income isn’t payroll income like the rest of us schlubs).
Ron Johnson, like Wile E Coyote, again proves he’s no super genius. Not even with an Acme Social Security Fixer Upper Kit. Beep beep!
His opponent for the US Senate, Mandela Barnes Website.