Polls & Research

Americans Want Social Security Fixed

- Many adults in the United States believe their social insurance program should be modified, according to a poll by Rasmussen Reports. 57 per cent of respondents believe Social Security needs to be fixed.

The Social Security system was introduced by U.S. president Franklin D. Roosevelt in 1935, and currently includes the payment of direct benefits for disability, retirement, survivorship, and death. The U.S. Social Security paid out almost $500 billion U.S. in benefits in 2004.

In 2004, U.S. president George W. Bush vowed to reform the Social Security system. Bush has proposed allowing workers to divert up to four per cent of their Social Security taxes into personal accounts that could be invested in stocks and bonds.

Americans workers currently contribute 6.2 per cent of their income to Social Security, with their respective employers paying an additional 6.2 per cent. In February 2005, Bush explained his rationale, saying, "Your money will grow, over time, at a greater rate than anything the current system can deliver."

Last month, Democratic Maryland congressman Steny Hoyer discussed the current state of affairs, saying, "We know we need to stabilize the funding of Social Security, but we're going to do so in a way the guarantees the availability of Social Security for our seniors. (...) I don't want to anticipate what the solutions are before we have the discussions, but yes, (raising the eligibility age or a tax increase are) on the table." 50 per cent of respondents are opposed to raising the Social Security taxes.

Polling Data

Does Social Security need to be fixed, or should it be left alone?

Do you support higher Social Security taxes as a means to fix Social Security?