The Scum at the Top
Commentary on the Rats in Washington
McCain gets Social Security but criticizes system
By David A. Lieb
APNews/Excite
© July 17, 2008
KANSAS CITY, Mo. (AP) - Although Republican presidential
candidate John McCain has called Social Security "a
disgrace," he still cashes his own retirement check
every month.
"I'm receiving the benefits, the system is broken and,
unfortunately, my children and grandchildren, according to
the trustees of the Social Security system, will not have
the same benefits the present retirees have," McCain told
reporters Thursday on his campaign bus.
McCain's 2007 tax return shows Social Security benefits of
$23,157 for the year, an average of $1,929.75 a month. He
said he started receiving the payments "whenever I was
eligible."
Asked last week by a young woman at a town-hall meeting in
Portsmouth, Ohio, if she is likely to receive Social Security
benefits one day, McCain said it is unlikely without fixing
the system.
"Americans have got to understand that we are paying
present-day retirees with the taxes paid by young workers
in America today," he said. "And that's a disgrace. It's an
absolute disgrace, and it's got to be fixed."
Social Security benefits are projected to exceed the system's
tax revenues in about nine years. The program's trustees have
said the Social Security trust fund will be depleted by 2041
unless the system is changed.
McCain, who will turn 72 next month, was eligible to receive
full-retirement benefits when he turned 65. In 2008, the
maximum benefit for a person retiring at full retirement
age was $2,185.
McCain reported a total income of $405,409 in 2007. As a
senator, he is paid $169,300 a year. Last year, he donated
$105,467 to charity, his return shows.
McCain's wife, Cindy, reported a total income of more than
$6 million in 2006, according to the campaign. She files
her tax return separately from her husband and has received
an extension for 2007. Heiress to a large Arizona beer
distributorship, she is reportedly worth more than $100
million.
People are not required to take Social Security payments,
according to B.J. Jarrett, a spokesman with the Social
Security Administration.
"An individual does have the right to refuse his/her Social
Security retirement benefit. However, Social Security is
an entitlement program and an individual would essentially
be forfeiting a benefit based upon contributions during
his/her working lifetime," Jarrett said.
Associated Press writer Devlin Barrett contributed to
this report.
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Last Modified:
October 21, 2008