Cutting social security to fix the deficit is not an idea that Americans like as outlined by 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. A large sample (72 percent) “strongly opposes” such action.
'Me first’ is the typical answer from anybody receiving Social Security
For a 75-year-old Social Security system that has received a great 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. 57 percent of any person under the age of 50 answering the survey said they would rather pay higher payroll taxes with a Social Security guarantee than be paying what they are now and not being certain of what can be received. 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.
Working with a big trust fund
The Obama administration is figuring out what can be done to fix the Social Security program that is not sustainable at the moment. Many fear that their shrinking nest eggs could be taken away. Right now, taxes can’t cover the program and while 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 of Americans believe Social Security cuts would leave them destitute
Two-thirds of Americans are afraid they won’t be able to survive without Social Security, while another 80 percent are concerned about the financial stress of any person who have 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 – according to the poll – that if the Social Security trust fund is in fact drained, they’ll still 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
