These Quotes From ‘Mooch’ Won’t Offend Grandma

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By Jacquie Lee

Anthony Scaramucci’s profanity-laced comments to a New Yorker reporter that went viral July 27 gave Americans a sample of the new White House communications director’s speaking style.

But Scaramucci’s opinions aren’t limited to suggestions about what his White House colleagues should do with their body parts. As a businessman, he has also expressed his concern about pensions, retirement, and the direction of the U.S economy.

Here are some quotes from Scaramucci that are fit to print and won’t get you in trouble if you discuss them at Grandma’s dinner table.

The Mooch on Social Security:

“First, we need to raise the retirement age for Social Security,” Scaramucci wrote in an April 12, 2016, op-ed in Institutional Investor. “We should gradually increase full Social Security eligibility from 66 to 70.”

“Second, Social Security should be means-tested; that is, benefits are reduced for individuals with high income or assets. We should also create a voluntary option for wealthy individuals to opt out of receiving Social Security distributions entirely.”

“Third, the ceiling on income subject to Social Security tax should be raised from $118,500 to $250,000. Social Security payroll tax was designed to hit 90 percent of all wages, but due to a rise in income inequality now captures around 82 percent of total wages.”

On Pensions:

He also has some views on what employers should do to help their workers save for retirement.

“U.S. employers should be required to set up retirement programs for employees and make mandated minimum 3 percent contributions. In exchange, unions must agree to make concessions on current defined pension liabilities and all workers must submit to an auto-enrollment provision for employer-based retirement programs,” he said in the Institutional Investor piece.

On the DOL Fiduciary Rule:

Scaramucci has been outspoken about his plan to push for an overhaul on the Labor Department’s fiduciary rule, which aims to reduce conflicts of interest for financial advisers who give advice to retirement savers. “We will repeal it as soon as we can,” he tweeted Nov. 26, 2016. “It is an overreach that hurts investors.”

On the U.S. Economy and Regulation:

“The theory behind over-regulation is to make people safer, but the problem is that the animal spirits that John Maynard Keynes talked about—if you’re trying to overly restrict the animal spirits of the human being, you get less-than-expected growth,” Scaramucci said in an October 2016 edition of “Skybridge Views,” a YouTube channel for Skybridge Capital, the investment company he founded.

To contact the reporter on this story: Jacquie Lee at jlee1@bna.com

To contact the editors responsible for this story: Peggy Aulino at maulino@bna.com; Terence Hyland at thyland@bna.com; Chris Opfer at copfer@bna.com

Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.

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