According to a recent poll conducted by research firm GfK Roper and funded by AARP, Americans largely disapprove of cutting Social Security in order to lower the national deficit. Cutting Social Security isn’t wanted by 85 percent of American’s, reports the Huffington Post. 72 percent were shown within the survey to “strongly oppose” social security.
'Me first’ is the typical answer from anybody receiving Social Security
For a 75-year-old Social Security system that has received a fantastic deal of criticism, such support may seem surprising. This number does seem about right when considering AARP members tend to be receiving Social Security and AARP also funded the survey. Another interesting related figure to surface from the poll is that 57 percent of American adults younger than 50 claimed they’d be willing to pay higher payroll taxes to ensure that they’ll have Social Security to collect after they retire. While a tremendous national deficit will certainly affect future generations for decades to come, the grim reality is that the sense of entitlement commonly associated with the “Baby Boomer” generation makes their refusal to cut Social Security less than surprising.
Working with a big trust fund
The Obama administration is figuring out what can be done to fix the Social Security program that isn’t really sustainable at the moment. Some really rely on Social Security and would be devastated if it were gone. Current tax levels aren’t enough to maintain into the system, and privatization may help younger workers, but not the scores of Baby Boomers who need the need a loan.
Two-thirds Americans think they’d become poor without Social Security
While two out of three Americans fear the direct effect that cutting Social Security would have on their budgets within the golden years, a whopping 80 percent are wary of indirect financial stress such action would cause families of fixed-income retirees. ”Poor house” or “debtors’ prison” are the concerns of numerous. However, nearly 80 percent of “the sky is falling” types don’t even know – as outlined by the poll – that if the Social Security trust fund is in fact drained, they’ll nevertheless receive benefits, just at a slightly lower level.
Additional reading
Bestyears.com
bestyears.com/parentstold.html
AARP survey
aarp.org/work/social-security/info-08-2010/social_security_75th.html
Cato Institute
cato.org/social-security
Huffington Post
huffingtonpost.com/2010/08/11/public-opposes-cutting-so_n_678374.html
Social Security Online
ssa.gov/
Milton Friedman on the Social Security myth
youtube.com/watch?v=rCdgv7n9xCY
