Cruz says Trump Accounts offer path to Social Security privatization
Summary
Senator Ted Cruz said that "Trump Accounts" for children born between 2025 and 2028 might allow Americans to put their Social Security payroll taxes into personal investment accounts instead of the government. He pointed out that the government has been borrowing from the Social Security trust fund for a long time.Key Facts
- Senator Ted Cruz represents Texas.
- He talked about "Trump Accounts" for children born from 2025 to 2028.
- These accounts could let people invest their Social Security taxes in the stock market.
- Currently, payroll taxes go to the federal government to support Social Security.
- The government has borrowed money from the Social Security trust fund for years.
- Cruz mentioned this idea during a panel discussion.
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