Americans Back 2032 Social Security Rescue but Split Sharply on $250 Billion Fix
Updated
Updated · The Motley Fool · Jul 25
Americans Back 2032 Social Security Rescue but Split Sharply on $250 Billion Fix
3 articles · Updated · The Motley Fool · Jul 25
Summary
71% of surveyed voters chose cutting benefits by $15,000 for moderately high-net-worth retirees over a $1,500 tax hike or a $5,000 cut for all current retirees.
The broader Reagan National Economic Survey found no consensus on four standard fixes to Social Security’s $250 billion shortfall; even the top option, raising the retirement age, drew only 26% support.
40% of voters who picked “other” favored higher taxes on wealthy people or corporations, including lifting the Social Security wage cap now applied only to the first $184,500 of earnings.
96% of voters in a separate Peterson Foundation poll said Senate candidates must explain how they would prevent the projected 2032 cuts, underscoring pressure on Congress to act before benefits for more than 70 million Americans are hit.