Americans don't want to end Social Security to help with deficit

According to a recent poll conducted by research firm GfK Roper and funded by AARP, Americans largely disapprove of cutting Social Security in order to lower the national deficit. According to the Huffington Post, 85 percent of adults don’t want to cut Social Security. 72 percent were shown in the survey to “strongly oppose” social security. Source of article – Americans disagree with Social Security cuts to trim deficit by Personal Money Store.

‘Me first,’ say Social Security recipients

Considering the Social Security system has been criticized time and time again and is 75 years old, it is interesting to see this support. However, considering that AARP funded the poll and numerous AARP members are or are about to begin collecting Social Security benefits, perhaps 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. The “Baby Boomer” generation gets to relax and live off other people’s incomes, which is why they don’t care about the deficit that the younger generation is going to have to fix one day.

Trust funds helping

Since Social Security is clearly not probably the most sustainable program, the Obama administration is trying to figure out what to do to change things. Most are concerned they won’t get their Social Security anymore. 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.

Social Security income used intensely by two-thirds Americans

While two out of 3 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 if the Social Security program went under, 80 percent of “the sky is falling” kind of individuals know they’ll nevertheless get an advantage of some sort from the government.

Discover 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