WI-Sen: GOP primary candidate Kevin Nicholson proposes major modifications to fix social security

Republican candidate Kevin Nicholson is running for U.S. Senate in Wisconsin, and has proposed solutions for fixing the nation's Social Security system.

What does he support?

Nicholson supports gradually raising the age for retirement, and implementing means-testing to manage the program's outlays. But, he prefaced to The Tomah Journal, "If you're receiving Social Security or you're close to retirement, there should be no change in the program whatsoever."

Younger Americans "should be incentivized to save into defined contribution plans that actually allow them to grow their wealth throughout their entire life," Nicholson said.

"We should look at the prospect of means-testing Social Security for those that are not already receiving it or close to receiving it. That's a totally reasonable answer,"  Nicholson said, regarding income assessments. "Maybe means-testing looks like you get out of Social Security literally to the dollar of what you put into it. That's the way to keep this thing solvent..."

The Nicholson campaign clarified to the Milwaukee Journal Sentinel, "We don't think millionaires and billionaires should put an unnecessary strain on an already burdened and nearly insolvent system, and sensible people on both sides of the aisle support this concept."

What else?

If Nicholson prevails against fellow front-runner Leah Vukmir (R-Wis.) in the GOP primary on Aug. 14, his position on Social Security would differentiate him from incumbent Sen. Tammy Baldwin (D-Wis.).

Baldwin holds the exact opposite stance on the issue, thoroughly against both means-testing and any fiddling with the retirement age, which she referred to in a statement as "financial gimmicks."

Wisconsin Democrats accuse Nicholson of simply following the instructions of Republican megadonor Dick Uihlein, who has contributed around $8 million to PACs supporting the candidate.

But the solutions touted by Nicholson aren't new arguments for a conservative to make. David John of The Heritage Foundation touted a plan back in 2012 that would leave 91 percent of Social Security recipients unaffected with a means-testing plan projected to return the system to solvency.