WASHINGTON — GOP presidential hopeful John R. Kasich offered a proposal Wednesday that would reduce initial Social Security benefits but would allow workers to invest in the stock market and possibly gain more than was cut.
Any proposal to cut Social Security benefits is politically risky because senior citizens regularly vote, but the Ohio congressman said some sacrifice is necessary to preserve the system.
Other Republican candidates, including Steve Forbes, former Vice President Dan Quayle and Sen. John McCain, have offered their own Social Security proposals focusing on allowing workers to invest in private retirement accounts.
But none of them has called for reducing future benefits. Kasich said his proposal was designed to ensure solvency without raising the retirement age or increasing payroll taxes.