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. As outlined by the Huffington Post, 85 percent of adults do not want to cut Social Security. 72 percent were shown in the survey to “strongly oppose” social security.
Those getting Social Security say ‘Me first’
It is surprising to see these numbers come from a Social Security system that is 75 years old and hotly discussed. However, considering that AARP funded the poll and numerous AARP members are or are about to start collecting Social Security benefits, maybe it all makes sense. 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. Those within the future will certainly have to deal with this deficit while the “Baby Boomer” generation lays back and soaks in all the money being handed to them.
Raiding the trust fund
Since Social Security is clearly not one of the most sustainable program, the Obama administration is trying to figure out what to do to change things. Some really rely on Social Security and would be devastated if it were gone. Privatization would be great for those nevertheless in the work force while Baby Boomers wouldn’t be able to get their funds anymore, and taxes aren’t covering the program.
Two-thirds of Americans believe Social Security cuts would leave them destitute
80 percent of Americans are concerned for the families of fixed-income retirees which only one out of every three are concerned about how not having Social Security could affect their lives after retirement. Clichéd old fears of a “poor house” or “debtors’ prison” rear their ugly heads, giving way to hysteria. However, nearly 80 percent of “the sky is falling” types do not even know – according to 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
