INDIANAPOLIS – A recent survey finds broad support across party lines and age for the value of Social Security – even when it comes to paying a little more to expand benefits.
The survey of Americans 21 and older finds 3 out of 4 value Social Security, with 86 percent agreeing that the current program does not provide sufficient income for beneficiaries.
Stephen Gorin is a member of the National Academy of Social Insurance, which issued the findings.
“Large numbers of people, including many Republicans, who you might not expect, were willing to pay a bit more to ensure that Social Security is solvent well beyond the next 75 years,” he says.
The study was based on an online survey in June of more than 2,000 Americans aged 21 and over.
Gorin says the survey finds more Americans are willing to make tradeoffs, such as a gradual increase of one percent over 20 years on the Social Security tax rate.
“What it breaks down to is for somebody – a worker – who’s earning $50,000 a year,” he points out. “They might wind up paying 50 cents a week more each year, and that would be matched by the employer.
“That would go a long way towards ensuring the stability of the Social Security Trust Fund.”
Gorin says most of those surveyed want to see a package of fixes that would support and expand Social Security for 75 years and beyond.
Mary Kuhlman
