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.