Poll Shows Age Gap On Social Security Reform

Americans younger than age 55 support lower Social Security taxes in return for the ability to invest more in individual retirement accounts.

The recent Reason-Rupe poll asked 1200 adults nationwide whether they would favor or oppose reducing social security taxes and allowing individuals to invest in their own retirement instead. The topline results revealed an America evenly divided on this issue with 45% opposed and 41% in favor. However, when examining the results by age, a different story emerges.

All age groups up to age 54 favor reducing social security taxes and allowing individuals to invest in their own retirement instead.  For young Americans age 18-29, a majority (52%) support compared to 31% who oppose. In contrast, Americans 55 and older clearly oppose such measures with 58% opposed and about 30% in favor. 

Full Reason-Rupe Q1 2011 Poll Results

Comments

[Robin]

"reducing social security taxes and allowing individuals to invest in their own retirement instead"

Holy false dichotomy, Batman!

[NotSure]

The USSR was once called a gerontocracy, that title can now be be used in most western countries. The the younger need to work ever more, earning ever less, to support ever more old people.

[JJutze]

and when the stock market tanks again, how will they support themselves?

[Sy]

"and when the stock market tanks again, how will they support themselves?"

A. Get a job.
B. Sell their organs
C. I don't give a shit.

Take your pick.

[Ken]

Or they wait until the market swings back up. Fairly normal part of the economic cycles and it's also why people should seek to have less risk in their retirement plans as they get closer to retirement.

[Gorbag]

Why not offer something for everyone: a REFUND of past social security taxes (including employer contribution) and you get to invest for your own retirement instead. I'm sure the over 50 group would find that far more popular.

[Ellsworth Frankson]

How many people throughout their lives could invest wisely enough to provide a monthly check for the length of their retirement like they now receive from Social Security? If they could, Social Security would never have been necessary in the first place. And to the many who can't, what's going to happen to them when they retire? Social Security is set up to make sure no one is left out at retirement. Social Security is a a governmental program built upon conservative principles. Privatization would be based upon greed, and you know what usually happens to the greedy. Society is better off with something for all rather than nothing for some.

[Sy]

"Social Security is a a governmental program built upon conservative principles"

A. No it's not.
B. President FDR signed it into law
C. If you're so inept with your own finances that you can't figure out how to put money into your pillow, you deserve to be a tax cow and not a tax burden for the rest of your natural life.

[Sy]

D. The money current SS recipients receive comes from those currently in the work force. The current recipients are about 8 sitting senators too fucking late to the debate to be taken seriously. The money they put in during their working life is gone, spent by the corrupt politicians they helped elect into office to give them those nice little checks.

[Classical Liberal]

Why do you even bother reading reason magazine, you retarded fuck? You right-wing teabaggers love governmental programs and socialism so much so that you support Social Security and Medicare. At the same time you will bitch about Obamacare. Go jump off a cliff.

[American Sharecropper]

@Ellsworth

You have a strange definition of the word "Greed". Privatization is another word for "self directed", or to put it plainly, freedom. This is not greed, it is managing my own wealth (as meager as it is) to my own purposes to benefit myself or my own. This is what you call "Greed"? My definition is a little more fitting and a lot less complimentary to people like you. Greed can be summed as "Those who would confiscate the wealth of another by threat or use of force, to the one's own use".

You, Ellsworth, are the epitome of greed. You would use government as the tool of your greed to rob your neighbor to benefit yourself because you are too lazy to manage your own resources.

Shame on you.

[febe]

Nobody asked me. I'm 66 and would like to be able to invest my own SS money now until I retire. Younger people should have that option. Definately!

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[Matthew]

Interesting discussion. Posters on http://www.whitehousevoice.com are talking about this too.

[non]

Most of the 18-25's I know think that the government just needs more funding to keep up the good work. They get offended and dismissive if you try to "scare" them with math.

[20 Year Old]

None of my friends care much for the government. Mostly due to marijuana laws, which make for a nice drug war/government spending/your drug money goes to taxes segue way.

[KennyD]

I get so tired of the "what if the stock market crashes?" argument. Someone explain to me how the current system survives if the stock market stays flat for 40 years.

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[Concerned Citizen]

Obvious question: How in the fuck are we bound by a contract that we signed when we were not of age, or our parents signed us up when we were infants, in order to get a tax deduction?

[LJP]

I like the idea of polling people for their opinions. A third political party can be formed around that concept. http://thenewthirdparty.blogspot.com

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[Ken]

I think the second chart showing increasing opposition as age progresses is an example of this observation: "When you rob Peter to pay Paul, you can always count on the support of Paul"

Paul is the person about to retire and Peter is the young worker down the street.

It's also worth noting how many people paying into SS are supporting one SS beneficiary.

[VS]

State and local workers do not pay payroll taxes and constitute the bulk of public sector workers. Quite naturally, they support reducing taxes they pay and oppose reducing ones they don't.

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If they could, Social Security would never have been necessary in the first place.

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D. The money current SS recipients receive comes from those currently in the work force. The current recipients are about 8 sitting senators too fucking late to the debate to be taken seriously. The money they put in during their working life is gone, spent by the corrupt politicians they helped elect into office to give them those nice little checks. - ????? 2017- ????? ???????