9 months ago
31
(NewsNation) — Social Security betterment has agelong been seen arsenic a political minefield, but a caller canvass shows Americans connected some sides of the aisle hold connected respective imaginable fixes.
Congress has astir a decennary to enactment up the program, which is facing a fiscal shortfall. Otherwise, millions of radical volition spot their Social Security benefits slashed.
A caller survey by the University of Maryland’s Program for Public Consultation (PPC) shows that astir Americans hold connected immoderate proposals to summation revenues and chopped costs.
Across six plaything states, 86% to 89% of respondents enactment subjecting each wages implicit $400,000 to the payroll tax, the canvass found. That alteration would destruct 60% of the shortfall, the study said.
Nationally, 87% were successful favour of the idea, including 86% of Republicans and 89% of Democrats. Today, the payroll taxation lone applies to wages up to $168,600.
A bulk of Republicans (87%) and Democrats (87%) surveyed besides supported gradually raising the payroll taxation complaint from the existent level of 6.2% to 6.5% by 2030.
The payroll taxation is Social Security's superior root of income, but owed to an aging workforce, higher beingness expectancy and debased commencement rates, existent collections won't beryllium capable to wage retired afloat benefits successful the future.
The findings connote most voters support legislature Democrats' recent efforts to enforce payroll taxes connected higher incomes.
Meanwhile, Republicans person been little forthright astir their Social Security plan, but the survey suggests 2 payment reductions whitethorn beryllium politically palatable.
Nationally, astir Republicans (92%) and Democrats (93%) supported reducing benefits for the apical 20% of income earners.
Respondents were besides fixed the enactment of gradually raising the status age, which is presently 67. The canvass recovered that 89% of respondents supported raising the status property to 68 by 2033.
Steven Kull, who heads the PPC astatine the University of Maryland, said the canvass shows Americans connected some sides of the aisle are measured and thoughtful erstwhile fixed the afloat Social Security picture.
"There's a benignant of convergence astir spreading the symptom successful antithetic ways," helium said.
It besides suggests Social Security betterment is little politically fraught than galore politicians and members of the media person made it retired to be.
"What this tells america is that governmental leaders person the enactment of pursuing this," Kull said. "If they explicate this to the public, the nationalist volition get connected board."
Unlike a accepted poll, respondents went done an interactive "policymaking simulation" wherever they were presented with the pros and cons of each imaginable reform. Each prime included gradations that allowed respondents to amusement their level of support.
You tin spell done the aforesaid interactive simulation here.
The survey was fielded Aug. 2-17, 2024 with 4,677 adults and included astir 600 radical each successful Arizona, Georgia, Michigan, Nevada, Pennsylvania and Wisconsin, arsenic good as, 1,224 nationally.
