Social Security wanted by Americans more than cutting deficit

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. According to the Huffington Post, 85 percent of adults don’t want to cut Social Security. Within the survey, 72 percent “strongly opposes” this action.

Those getting Social Security say ‘Me first’

For a 75-year-old Social Security system that has received a fantastic deal of criticism, such support may seem surprising. However, considering that AARP funded the poll and numerous AARP members are or are about to start collecting Social Security benefits, possibly 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. While a tremendous national deficit will certainly affect future generations for decades to come, the grim reality is the sense of entitlement commonly associated with the “Baby Boomer” generation makes their refusal to cut Social Security less than surprising.

A trust fund for the using

The Obama administration is figuring out what could be done to fix the Social Security program that isn’t really sustainable at the moment. Many fear that their shrinking nest eggs can be taken away. 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 money now.

Two-thirds Americans think they’d become poor without Social Security

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. ”Poor house” or “debtors’ prison” are the concerns of numerous. 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.

More on this topic

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