Johnson Mocks Social Security as “Ponzi Scheme,” But Would Hand it to Irresponsible Wall Street Investors Anyway

MADISON – On the 75h Anniversary of Social Security, will Ron Johnson — who will repeal health care reform that will benefit seniors and refused to defend government programs such as Medicare that serve as a lifeline to thousands of Wisconsin seniors — finally explain his plans to repeal and cut Medicare benefits and privatize Social Security - handing it over to Wall Street banks that drove our economy into the ditch?

In Wisconsin, more than 1 million residents receive Social Security benefits. Ron Johnson would rip up the safety net for more than 1 million Wisconsin seniors by privatizing Social Security and handing it over to Wall Street, saying in late June, “I’m certainly not opposed to taking a look at some privatization.” [Brookfield Chamber of Commerce, 6/21/10]

Johnson has called Social Security a “ponzi scheme,” and refused to back down by repeating the charge and saying, “I'm just describing the problem." [WisPolitics luncheon, 7/26/10]

“By opening the door to privatization, Ron Johnson would rip up the safety net for more than 1 million Wisconsin seniors so he can look out for special interest Wall Street bankers who will gain billions in profits from his risky plan,” said Mike Tate, Chair of the Democratic Party of Wisconsin.

Johnson Wages Ideological Battles That Will Dismantle Medicare, Repeal Health Care Reform That Protects Seniors

Johnson, who has falsely attacked health care reform as “government run” has also praised a plan, that he calls “common sense,” that would abolish Medicare in its current form for everyone currently below age 55.

When asked if he supports Medicare, Johnson refused to commit to preserving the program, saying only, “Well, it’s…that’s the system we have.” [Up Front With Mike Gousha interview, 5/30/10].  

And Johnson says he will repeal health care reform, which would put Wisconsin seniors at risk because:

·         Johnson’s repeal plan would take away rebate checks that help seniors pay for prescription drugs.

·         Johnson’s repeal plan would open up the prescription drug “donut hole,” increasing out-of-pocket costs for Wisconsin seniors.

·         Johnson’s repeal plan would eliminate guaranteed first-dollar coverage for Wisconsin seniors’ preventive and wellness care.

·         Johnson’s repeal plan would return to an unfair Medicare reimbursement formula that has penalized Wisconsin medical providers that are focused on high-quality, rather than high-cost care.

·         Johnson’s repeal plan would also “rip up” efforts to rein in waste, fraud and abuse, and end overpayments to insurance companies, ensuring tax dollars pay for the highest quality of care.

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