Two large principles led me to run for president: values
On the values level, the very heart of what defines
America is at stake in this election. Are we still an exceptional nation
that believes, as our Founding Fathers did, that our rights come from God,
or are we drifting towards a more European model where citizens are
subjects to the government?
On the innovation level, Washington is a stunningly
incompetent bureaucratic mess run by lobbyists eager to protect the past
while resisting bold ideas of the future.
As I outlined in a speech yesterday to students at
Georgetown University, one example of innovation that Washington opposes
is giving young Americans the right to choose personal Social Security
We know personal accounts work because we've seen them
work successfully in Chile and Galveston, Texas.
In 1981, Chileans were given the option of a personal
Social Security account. Within a year and a half, a whopping 93% of
workers transitioned from the government-run system to personal accounts.
In 30 years, because of the power of compound interest, Chileans who opted
for personal accounts have retired with two to three times more money than
what they would have received from traditional Social Security. Chile also
guaranteed that if an individual's personal account dropped below the
minimum amount the government would make up the difference. In 30 years,
they have never had to write a single check.
The experience in Galveston, Texas mirrors that of Chile:
A system that transfers control of retirement decisions from bureaucrats
to workers ultimately yields much higher returns than traditional Social
Security could ever provide.
This is a perfect example of innovation because it
increases your freedom by giving you control over your money, and ensures
that no politician ever again can get between you and your Social Security
or tell you at what age to retire.
I'm in this race because I believe that values and
innovation matter. Big ideas like personal Social Security accounts are an
enormous opportunity to give young Americans ownership over their
retirements and financial future. In order to defeat President Obama,
Republicans must be willing to talk about big ideas and have the courage
to take on the entrenched special interests in Washington who want more
control over your life.
your continued financial support, you have my commitment that I will
continue to propose bold, conservative solutions to problems President
Obama and timid Washington politicians have failed to solve.
P.S. Historically, America is a country where its citizens
get up every morning to solve problems and create a better future, not
wait around on the government to care of them. If
you believe we need to return to that culture of an inventive America,
then please make a generous donation today to my campaign of bold,
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