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Election 2016: Where Republicans Stand on Social Security

By Matthew Frankel, CFP® – Feb 7, 2016 at 6:07AM

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Here's what we know so far.

It can be difficult to keep up with the 2016 presidential candidates' stances on the issues, and that's especially true for the Republicans. As of this writing, there were 11 candidates still in the running for the Republican party's nomination, including seven who have proposed specific changes to Social Security.

Social Security is a hot-button issue, and for good reason. It is estimated that 36% of retirees are completely dependent on their Social Security income, and the program is running out of money quickly. According to the latest trustees' report, the Social Security trust funds will run out of money completely in 2034, at which point the program will only be able to pay about three-fourths of promised benefits.

There are some general trends when it comes to politicians' views on how to fix Social Security. The Democrats are in favor of increasing taxes to make up for the shortfall, while Republicans are typically in favor of some form of benefit reductions.

Having said that, the 2016 Republican candidates all have different ideas on Social Security, so here's a guide to help you keep track of the individual candidates' plans.

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