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News Thursday, May 28 2015

#tbt: Rand Paul Brought Back His 90s Argument Comparing Entitlements to Fraud

May 28, 2015

Rand Paul said that federal pensions “might be fraud” at an event yesterday…a Rand Paul argument that he has kept dormant since 1998. Paul has compared Social Security to a Ponzi Scheme and has advised the young-uns it’s better to put “your money under your mattress.” Comparing pensions to fraud was a pure #TBT to his early political career.

Paul is hardly the first 2016 GOP contender to call for cutting Social Security benefits and entitlement reform with Jeb Bush, Ted Cruz, Chris Christie, and Marco Rubio calling for the same thing.

Check out some of Rand’s past hits on entitlements below:

Rand Paul:  “Currently Social Security Is A Bad Investment” And “You Can Probably Do No Worse Putting Your Money Under Your Mattress.” “Currently Social Security is a bad investment.  If you’re under 60 and you’re paying your Social Security taxes like you’re supposed to, you’re going to get less out of Social Security than you put in. It’s a bad investment.  You can probably do no worse putting your money under your mattress.” [Kentucky Tonight, 10/26/98]

Rand Paul Called For Letting “Young, Working People Opt Out” Of Social Security.  “Let young, working people opt out – the sooner, the better.  Let them opt out and get a better investment.  Social Security is a bad investment for the working man.” [Kentucky Tonight, 2/22/99]

Rand Paul Called Social Security A Ponzi Scheme.  “When she calls it a successful intergenerational program, what that means is it’s a Ponzi Scheme,  They’re taxing us to pay for the current generation.”  [Kentucky Tonight, 2/3/97]

Published: May 28, 2015

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