Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

no_hypocrisy

(46,151 posts)
Sun Aug 26, 2012, 07:48 PM Aug 2012

Poll: Raise taxes to save Social Security

http://www.northjersey.com/news/Poll__Raise_taxes_to_save_Social_Security_.html

Most Americans say go ahead and raise taxes if it will save Social Security benefits for future generations. And raise the retirement age, if you have to.
'Right now, it seems like we're taxed so much, but if that would be the only way to go, I guess I'd have to be for it to preserve it,' said Marge Youngs, a 77-year-old widow, in her Toledo, Ohio, home. 'It's extremely important to me. It's most of my income.'

Both options are preferable to cutting monthly benefits, even for people who are years away from applying for them.

Those are the findings of a new Associated Press-GfK poll on public attitudes toward the nation's largest federal program.

Social Security is facing serious long-term financial problems. When given a choice on how to fix them, 53 percent of adults said they would rather raise taxes than cut benefits for future generations, according to the poll. Just 36 percent said they would cut benefits instead.

The results were similar when people were asked whether they would rather raise the retirement age or cut monthly payments for future generations — 53 percent said they would raise the retirement age, while 35 percent said they would cut monthly payments.

-cont-
5 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Poll: Raise taxes to save Social Security (Original Post) no_hypocrisy Aug 2012 OP
Educate on how the benefits formula is calculuated exboyfil Aug 2012 #1
Raising the retirement age is the same thing as reducing monthly benefits. Lasher Aug 2012 #2
That should read raise the cap. Same idea but goes directly to Social Security. jwirr Aug 2012 #3
None of the above. girl gone mad Aug 2012 #4
TAX the fucking rich already..Duh MichiganVote Aug 2012 #5

exboyfil

(17,865 posts)
1. Educate on how the benefits formula is calculuated
Sun Aug 26, 2012, 07:52 PM
Aug 2012

and eliminate the cap. The case for eliminating the cap is found in the 15% bracket for calculating benefits. No reason why those making $50-$110K should be the ones carrying S.S. on their backs. Those over $105K should contribute on that income at a smaller percentage rate.

Lasher

(27,629 posts)
2. Raising the retirement age is the same thing as reducing monthly benefits.
Sun Aug 26, 2012, 08:12 PM
Aug 2012

If your retirement age is raised from 65 to 66, then if you retire at age 65, your monthly benefit is reduced by 6 2/3 percent.

girl gone mad

(20,634 posts)
4. None of the above.
Sun Aug 26, 2012, 08:43 PM
Aug 2012

The government should address any shortfall precisely the way it dealt with the multi-trillion dollar bank bailouts. Expand the government's balance sheet as necessary. If inflation is a concern, then raise taxes.

Latest Discussions»General Discussion»Poll: Raise taxes to save...