Cutting social security to fix the deficit is not an idea that Americans like according to a survey funded by AARP and conducted by GfK Roper. The Huffington Post reports that polls results show that 85 percent of adults are against cutting Social Security. In the survey, 72 percent “strongly opposes” this action.
'Me first’ is the response from Social Security recipients
For a 75-year-old Social Security system that has received a fantastic deal of criticism, such support may seem surprising. Since the AARP funded this survey happening, and the AARP members tend to be either on, or nearly on Social Security, seems like about right. In the survey, it was discovered that 57 percent of American’s younger than 50 said they’d rather pay higher payroll taxes to make certain social security would be accessible to them. Those within the future will surely have to deal with this deficit when the “Baby Boomer” generation lays back and soaks in all the money being handed to them.
Using the trust fund
Since Social Security is obviously not the most sustainable program, the Obama administration is trying to figure out what to do to change things. The majority are concerned they won’t get their Social Security anymore. Right now, taxes can’t cover the program and when privatization is a solution being looked into for the younger generation, Baby Boomers would end up losing all their money they live off of.
Two-thirds Americans think they’d become poor without Social Security
While two out of 3 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. Many individuals are just concerned that things will turn into “poor house” or “debtors’ prison”. However, nearly 80 percent of “the sky is falling” types do not even know – as outlined by the poll – that if the Social Security trust fund is in fact drained, they’ll still receive benefits, just at a slightly lower level.
Find more information on this subject
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
