Reason-Rupe Public Opinion Survey

Millennials Favor Private Accounts for Social Security Even if Benefit Cuts to Current Seniors Required

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Reason-Rupe has a new survey and report out on millennials—find the report here

Millennials aren't optimistic about Social Security: 53% say Social Security is "unlikely" to exist when they are 67 years old, while 45 percent say it probably will remain.

But if it does exist at that time, even fewer millennials believe government will provide them with the same level of benefits that today's seniors receive. Only 34 percent say they are confident that government will provide them with the same level of retirement benefits as it does for today's retirees; 64 percent say they are not confident.

Education decreases the likelihood one believes Social Security will continue in the future. A majority (54%) of those with high school degrees or less expect Social Security to exist when they retire, compared to 36 percent of college graduates.

Nearly two-thirds (62%) of white millennials say Social Security is unlikely to remain in the future. In contrast, 55 percent of African-American, Latino, and Asian millennials instead say it's likely to continue. Nevertheless, strong majorities of all race/ethnic groups expect that government will not provide the same level of retirement benefits to them as it does for current retirees.

Millennials' lack of confidence perhaps explains why 73 percent support "changing the Social Security program so younger workers can invest their Social Security taxes in private retirement accounts. "

But even after learning that transitioning younger workers to private accounts would require reducing benefits to current seniors, a slim majority (51%) continues to favor to private accounts, while 45 percent oppose.

When it comes to private accounts, there are not significant differences across race/ethnicity but there are meaningful partisan differences. Sixty-three percent of Republicans and a plurality of independents (49%) favor private retirement accounts, even if it reduces benefits to current seniors, but a plurality (50%) of Democrats oppose.

Millennials' underlying values help explain their Social Security policy preferences. Among those whohighly endorse meritocratic fairness, 61 percent favor private retirement accounts. Conversely, among those least favorable toward meritocratic fairness, 55 percent oppose private 83 Table of Contents retirement accounts.[1] Similarly, among those who believe wealth and poverty are primarily within the control of the individual, 57 percent support private retirement accounts.[2] Fifty-three percent of those who believe wealth and poverty are primarily due to external factors oppose privatizing Social Security. In other words, millennials who believe in self-determination and meritocracy are more likely to think individuals should be more responsible for their own retirement.


[1] See report, page 76, https://reason.com/assets/db/14048862817887.pdf

[2] See report, page 66, https://reason.com/assets/db/14048862817887.pdf

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To learn more about millennials, check out Reason-Rupe's new report.

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  1. RUN FOR YOUR LIFE! IT’S THE POLLOCALYPSE!

  2. Stupid senior citizens. Why should we have to pay for their Social Security benefits?

    *ages 60 years*

    I deserve free money!

    1. I plan to be dead before I’m able to cash in on SS anyways. If I don’t die by 62 1/2 I’ll probably off myself; I really don’t believe I can deal with the psychological pain of losing my physical and mental capacities.

      1. I kinda have a similar plan. I figure like most men I’ll have a massive heart attack or stroke somewhere in my mid 50’s, and I’ll just walk to the light.

        And if that doesn’t happen, I’m thinking suicide by cop.

    2. 1. Pay hundreds of thousands of dollars to keep granny alive forever

      2. ??????

      3. PROFIT!

    3. That show is as good at humor as Ekins is bad at alt-text.

      1. A classic line from the preceding show:

        Bart: “Didn’t you wonder why you were getting checks for doing absolutely nothing?”

        Grandpa: “I figured because the democrats were in power again.”

  3. This story needs a cartoon image of a hipster tipping granny out of her wheelchair, saying, “ME FIRST!! WALKING IS FOR LOSERS”

    1. …with a bald eagle perched on Uncle Sam’s shoulder overhead, a single tear coming down its beak.

  4. But what do millennials think about sex offender registries?

    1. Good way to meet new & interesting people?

    2. They call it Instagram.

    3. TUMBLR IT

  5. Oh my gosh. Nobody cares anymore!

  6. This might as well be a poll of how successful people perceive themselves at saving money for retirement.

    “Fuck, I’d rather social security, I can’t even feed myself ramen.”

  7. hahahaha. Be careful what you wish for waffles.

    1. I always wish for waffles. I may be slathered in warm gooey syrup but I have an icy cold heart.

      The title should have been.

      Millennials Favor Private Accounts for Social Security Even Especially if Benefit Cuts to Current Seniors Required.

  8. I’m curious how millennials feel about a mosque being built near the former WTC site.

    1. They favor long-barreled guns.

    2. I’m not sure yet. What is the birth control coverage of the mosque employees?

      1. Abstinence

        1. I almost forgot raping Swedish women. Them infidel chicks are such whores, so you’re totally allowed to defile them (ideally along with large groups of your co-religionists, because according to the Haditha of Justin Timberlake and that SNL dude, it ain’t gay in a 3-way).

  9. Five most important issues to millennials (according to Rolling Stone):
    1: social issues
    2: personal issues
    3: other people’s issues
    4: societal issues
    5: derringers

    1. Nope.
      #1 is FREE SHIT.
      All else follows.

  10. Millennials’ lack of confidence perhaps explains why 73 percent support “changing the Social Security program so younger workers can invest their Social Security taxes in private retirement accounts.”

    boosh!

    1. Well,,the post-baby boomers are at least doing something better than their parasitic predecessors. They’re teaching their kids that social security is fucked while the boomers taught us that it’s the greatest and most stable thing ever.

      1. I dunno about that, looks like the millennials “favoring” private accounts is pretty much within the margin of error.

        1. Which is probably about 20-30 points better than my generation or the boomers. I’m curious how the post boomers/pre gen x’ers would poll. They’re getting close to that retirement age and probably a little anxious about the solvency of the program.

          1. I expect nothing from it. It’s dead to me.

    2. But even after learning that transitioning younger workers to private accounts would require reducing benefits to current seniors, a slim majority (51%) continues to favor to private accounts, while 45 percent oppose.

      WE NEVER AGREED TO THIS SCHEME IN THE FIRST PLACE.

      Christ, 45% are still willing to play along with something that was enacted 80ish years ago?

      1. The constitution was enacted a lot longer ago than that. And there are still some of us that are willing to go along with it.*

        *Unfortunately, very few elected officials are in this group.

        1. I know it isn’t the best argument, just stating that someone is going to lose in this transition, and it should be those who participated most in the failure of it.

          1. Lol. They’re the only,ones that are gonna come,out,of this with more than they put in.

            The boomers essentially stole from every other generation before or after them.

  11. Hmm. I wonder what millenials think of other aspects of American policy. I hope we can expect more polls on the subject.

  12. Am I the only one who finds that the endless number of polls is starting to make me hate the millennials? At some point when is enough enough? They are not that large of a generation and most of them are too retarded to find the polling places anyway.

    1. This country started going down hill when I was allowed to vote 10 years ago.

      1. Apparently you are the only generation that matters, so maybe you really are to blame.

      2. Things started going downhill when women got the vote. Just sayin.

  13. I heard 8 out of 10 Millenials recommend Trident.

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