What Americans Really Think About the Proposed Social Security Solvency Solutions
Social Security is facing a funding shortfall. It is predicted to become insolvency by 2032. If nothing is done to shore it up, retirement benefits will be cut.
Fortunately, there is still time to fix it and several options to consider. But, according to a Fox Business report, most are not favored by American voters. Citing results from the Ronald Reagan Institute’s Reagan National Economic Survey, it found that none of the possible policy options appeal to voters:
- 90% oppose reducing benefits
- 80% oppose raising payroll taxes on workers
- 74% oppose raising the retirement age.
The Seniors Trust believes there is viable plan to ensure the long-term solvency of the Social Security program that should appeal to all Americans. That is the Social Security Expansion Act. It will give retirees an immediate increase of about $200 a month in benefits, a fair annual COLA, and increased minimum benefits, in addition to preserving the program for generations to come.
