Because of their low earnings and family obligations, Latinas would not be putting much money into private investment accounts. An average Latina could wind up losing thousands of dollars under this proposal.
More Quotes from Grace Napolitano:
We are still waiting for the president to introduce a concrete plan. He has just hinted at what he is thinking about doing, but no one has seen a proposal.Grace Napolitano
Because of my own experience with market fluctuation, I recognize the great risks one takes on investments. This converts the Social Security safety net into a risky proposition many cannot afford to take.
Grace Napolitano
Social Security has been effective for 70 years; prior predictions of its demise have been totally overstated.
Grace Napolitano
We must level with the people and explain to them that Social Security will first face funding problems in 2042 that can be fixed now with changes that do not undermine and ultimately drain from the entire program.
Grace Napolitano
For people who have for been putting their hard-earned money into the system for years, the president's idea would replace their safety net with a risky gamble with no assurance of a stable return of investment.
Grace Napolitano
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