Campaign 2010

Feb 24, 2005

Rep. Beauprez Caught on Tape…

DCCC Press

Feb 24, 2005

Rep. Beauprez Caught on Tape...

New website reveals Social Security campaign ad that may come back to haunt Bob Beauprez.

Check out web video of Beauprez's
Social Security flip-flop

The DCCC today unveiled a website showing GOP Rep. Bob Beauprez caught on tape pledging not to privatize Social Security or cut benefits. But Rep. Beauprez has undercut that pledge by telling others that he supports private accounts that would drain revenue from Social Security and cut Social Security's guaranteed benefit.

The DCCC has posted Rep. Beauprez's campaign ad and a new Internet video highlighting his Social Security flip-flop here.

Beauprez Campaign Ad: "Whether you're 30, 50 or 70, you need to know that [Social Security] will be there for you when you do need it for retirement. That's why I am opposed to privatization... I am absolutely opposed to any plan that would reduce benefits, raise taxes or raise the age for Social Security eligibility."

But here's what Beauprez's been saying when the camera's off...

On His House Web Page, Bob Beauprez Says Supports "Personal Retirement Accounts" to Provide for Social Security Viability. "I am very interested in exploring the idea of personal retirement accounts and believe they may hold the answer to the long-term viability of Social Security. These accounts would allow the worker to invest a portion of his or her retirement money in safe investments where the principal is secure and often federally insured." []

Beauprez Told the National Taxpayers Union He Supported Private Accounts. "I recognize that Social Security will default on its obligations to future retirees unless fundamental reforms are made. Therefore, I will work and vote for a system of Social Security Choice that will allow younger workers to have the choice of investing much of their Social Security taxes in regulated individual retirement accounts. Current retirees and those nearing retirement would not have any change in their Social Security benefits. Social Security Choice will give younger workers ownership of their Social Security accounts, with higher rates of return and better benefits than are possible under the current system." [National Taxpayers Union, 2004 Candidate Survey]

Just the facts...

Any Privatization Plan Would Weaken Social Security & CUT Guaranteed Benefits. Under Bush's Social Security privatization plan, the cost would be at least $2 trillion in the next 10 years, cutting the system's lifespan in half to pay for it. In addition, the White House plan would cut benefits by 25 to 45 percent whether or not a worker picks the "voluntary" private accounts (Beauprez has pledged that such accounts shouldn't even be voluntary). This benefit reduction would also apparently apply to people with serious disabilities who receive Social Security benefits and to orphans, widows and any other recipients of Social Security survivors' benefits. [Economic Report of the President 2004; Contributions to Economic Analysis & Policy, Volume 1, Issue 1, 2002; Washington Post, 1/4/05; Congressional Budget Office; CBPP, 1/28/05]

"Two years ago, Rep. Beauprez looked in the camera and told Coloradoans he wouldn't vote to privatize Social Security. So how can Rep. Beauprez now back a plan that shifts trillions of dollars from Social Security into the stock market and replaces Social Security's guaranteed benefit with a guaranteed fee for Wall Street?" said DCCC Chairman Rahm Emanuel (IL). "Rep. Beauprez will have to explain why he broke his promise and ran a misleading TV ad if he goes back on his pledge not to privatize Social Security or cut benefits."