Oligarch Steve Forbes Backs Privatizing Social Security

“For younger people, bring in a new system, where part or whole of their payroll tax goes to their own personal retirement accounts. And that way, numerous studies have shown whether you just leave it in CDs, you’d have two to three times the retirement benefits that you get under the current system, and you would own it, not the Washington politicians.  

“So if the Trump reforms go through, especially a big delicious tax cut – huge, beautiful tax cut – we can get the growth rate up to three, three and a half. That puts off the crisis for at least ten years, gives us time to reform the system. 

“And the thing is, if we have a decently growing economy we can once again have the opportunity. You don’t have to take any benefits from those who are on the system  or about to go on the system. But for younger people, put in a new system and that’s what they should be focusing on.” – Steve Forbes, who ran for president in 1996 and 2000, speaking to Newsmax. 

Forbes is currently worth an estimated $450 million. In 2008, he ran Rudy Giuliani’s short-lived presidential campaign before signing on with John McCain’s campaign.