Explore Candidates → John Edwards on Social Security

John Edwards on Social Security

Social Security is a social insurance program officially called "Old-Age, Survivors, and Disability Insurance" (OASDI), in reference to its three components. It is primarily funded through a dedicated payroll tax. The debate over social security is largely in how and who will control these accounts. The candidates offer many prescriptions which run the spectrum between private and public control of social security.

The issues

John Edwards opposes privatizing social security through personal Social Security accounts

I oppose diverting payroll taxes to private accounts but support offering matching accounts to workers on top of Social Security. I oppose raising the retirement age or cutting COLAs.

2004 Presidential National Political Awareness Test Mar 3, 2004

John Edwards supports raising the earnings cap on Social Security, which is currently $102,000

"The question I have is whether you should just lift the cap or whether you should create some bubble above the cap. For example, for the first $97,000 you are already paying taxes, and then above that to the first $150,000 or $170,000 you don't pay taxes, and then anything above that you do. That's the question I have. Because there are a lot of people earning $100,000-$150,000 where both couples work and send their kids to college and so forth, and they still have trouble paying their bills. We don't want to make taxes higher on them if we can help it. But the people who are earning millions of dollars a year, they ought to be paying payroll taxes."

Watch Video Now

Maybe raise the cap from $90,000 or totally eliminate the cap.

Meet the Press: Meet the Candidates 2008 series Feb 4, 2007

"I do think we need to have a bubble above $97,000, probably up to about $200,000 so we don't raise taxes on middle-class families. But, above the $200,000, these millionaires on Wall Street ought to be paying their Social Security taxes."

Watch Video Now