Natalie Gonnella
Senate Majority Leader Harry Reid may believe that Social Security is fine for now, but a majority of American voters seem to strongly disagree.
In a new Washington Post - ABC News poll released today, 81% of Americans feel that if reforms are not made soon, Social Security is headed for a crisis. Nearly two-thirds of voters also felt that major changes were needed.
Interestingly, when it came down to options available to reform the system, respondents were less eager to lend their support:
- Only 35% of voters were in favor of increasing the Social Security tax rate
- Just over half (53%) felt that Social Security taxes should be collected on the total annual income of an individual worker, rather than taxing only up to about $107,000.
- Over two-fifths of voters favored raising the retirement age to receive full Social Security benefits by one year to 68.
- Nearly half (46%) of Americans supported reducing the benefits paid to people who retire early.
- Barely one-third of respondents favored reducing guaranteed benefits for future retirees
- Just under half supported changing the way Social Security benefits are calculated so that they increase at a slower rate than under the current formula, 45% of voters
While Americans' recognition of insolvency concerns related to entitlement programs like Social Security is encouraging, the timid response to actual change proves to be far more troublesome. With the Debt Paying Generation being consistently invoiced for out-of-control and unsustainable entitlement spending and a national debt that grows larger by the minute, reforms are needed now. If voters are serious about ensuring long term fiscal security, America needs to embrace a greater sense of shared sacrifice and personal responsibility when it comes to entitlement reform. For more information on ConservativeHome's own campaign to promote wider support for reform check out www.PledgeByAmerica.org.
The full results of the Washington Post - ABC News poll can be viewed here.
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