The firm GfK Roper had a poll they did that was funded by AARP explaining that American’s do not like the idea of helping the National deficit by cutting Social Security. Cutting Social Security isn’t really wanted by 85 percent of American’s, reports the Huffington Post. A large sample (72 percent) “strongly opposes” such action.
Any person with Social Security benefits say ‘Me first’
For a 75-year-old Social Security system that has received a great deal of criticism, such support may seem surprising. However, considering that AARP funded the poll and many AARP members are or are about to start collecting Social Security benefits, possibly it all makes sense. Within 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. The “Baby Boomer” generation gets to relax and live off other people’s incomes, which is why they do not care about the deficit the younger generation is going to have to fix one day.
A trust fund for the using
The Obama administration is at the moment looking into what should be done with Social Security, as the insurance program clearly is not sustainable in its current form. Many are concerned they won’t get their Social Security anymore. Privatization would be great for those still 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 Americans afraid to lose Social Security as an income
While two out of three Americans fear the direct effect that cutting Social Security would have on their budgets in the golden years, a whopping 80 percent are wary of indirect financial stress such action would cause families of fixed-income retirees. Clichéd old fears of a “poor house” or “debtors’ prison” rear their ugly heads, giving way to hysteria. Even 80 percent of people who are “thy sky is falling” types believe that they would still get benefits even if there wasn’t a Social Security program anymore.
Further 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
