Flashback: Romney wanted privatization of Social Security in 2007
Mitt Romney tried to present himself as a stark contrast to Rick Perry’s aggressive stance on Social Security at the GOP Debate Wednesday evening. But the former governor of Massachusetts isn’t a strong champion himself of the program in its original form.
Romney has stated recently at a town hall in New Hampshire that privatization of Social Security “didn’t make sense,” while his campaign staff appeared on MSNBC’s post-debate coverage indicating that Romney entertains the idea of raising the current retirement age up from 65 years old.
However, Romney in the past has stated several times on record his preference to privatize at least some portion of Social Security. In fact, those statements happened ironically in the last Presidential campaign cycle.
At the Republican debate in 2007, Romney felt that then President George W. Bush’s plan of having private accounts for Social Security “works.” The former CEO of Bain Capital also had a moment on the campaign trail backing privatization.
“Social Security cannot continue the way it is,” he said at a town hall in Iowa in October 2007. “The two major paths that we have is one, to raise taxes on people, which I don’t want to do. And the other is to allow some portion of people’s money that they’re now having taken out of their salaries to be invested in Social Security.”
When a female attendee stated that his plan was “privatization,” Romney offered a different term. “You call it privatization, I call it a private account.”
WATCH: Video From Youtube, which aired in October 2007.