« | »

AP Poll: Raise Taxes To Save Social Security

From the opinion makers at the Associated Press:

AP-GfK poll: Raise taxes to save Social Security

By JENNIFER AGIESTA and STEPHEN OHLEMACHER | August 27, 2012

WASHINGTON (AP) — 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. Both options are preferable to cutting monthly benefits, even for people who are years away from applying for them.

We wonder if most Americans realize that Social Security is supposed to be a trust fund that is completely separate from the funds in the US Treasury? That it is supposed to be self-funding.

And that, in reality, Social Security would be self-funding, except that its trust fund has been illegally raided to pay for other things in the budget.

Of course, the AP does not mention any of this, since their purpose is to beat the drum for higher taxes.

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

By the way, when the AP says most, they mean 53% of those polled in a survey that oversampled Democrats by at least 6%. The breakdown is Dem/Rep/Ind: 47%/41%/6%. And there are probably a lot of Independents in the GOP stack, since the Independent results are very low by today’s standards.

For the record, the percentage of respondents in each age group were supposedly as follows: 18-29, 20%; 30-49 35%; 50-64 23% and 65+ 18%. So 41% of those polled were over 50. Which seems to be a little older sample than the usual polls.

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…

Again we are being told 53% of oversampled Democrats is a whopping majority.

Social Security is being hit by a wave of millions of retiring baby boomers, leaving relatively fewer workers to pay into the system.

And it has nothing to do with the current unemployment rate. Or the number of people on Social Security disability. Or the unprecedented drop in the labor force.

The trustees who oversee the massive retirement and disability program say Social Security’s trust funds will run out of money in 2033. At that point, Social Security will only collect enough tax revenue to pay 75 percent of benefits, unless Congress acts…

Forty-seven percent said they trust President Barack Obama to do a better job on Social Security, and 44 percent said they trust his Republican opponent, Mitt Romney. The difference is within the poll’s margin of sampling error.

Could that be because most people simply don’t know that Obama has already gutted Social Security’s only source of funding? Or that the Democrats have raided the trust fund illegally for years?

Of course, the AP isn’t going to tell them.

Romney has said he favors gradually increasing the retirement age, but he opposes tax increases to shore up Social Security. For future generations, Romney would slow the growth of benefits "for those with higher incomes."

Obama hasn’t laid out a detailed plan for addressing Social Security. But during the 2008 campaign, he called for applying the Social Security payroll tax to wages above $250,000. It is now limited to wages below $110,100, a level that increases with inflation

By the way, you can search this long article from top to bottom, but you won’t find any mention of how Obama has cut the FICA ‘payroll tax’ in half for employees, which is the only source for Social Security’s funding.

In previous polls, most of the options for addressing Social Security scored poorly among the public, which helps explain why Congress hasn’t embraced them. But the AP-GfK poll forced people to make a choice: Raise taxes or cut benefits? Raise the retirement age or cut monthly payments?

Remember when the news outlets just reported the news, instead of trying to shape opinion and push through agendas?

Democrats, Republicans and independents all favored raising the retirement age over cutting monthly payments. But there was a big divide on raising taxes. Sixty-five percent of Democrats and 53 percent of independents supported higher taxes, compared with just 38 percent of Republicans

Which is exactly why they oversampled the Democrats and probably put some of the Independents in the GOP column.

This article was posted by Steve Gilbert on Monday, August 27th, 2012. Comments are currently closed.

3 Responses to “AP Poll: Raise Taxes To Save Social Security”

  1. GetBackJack

    Adopt Chilean model of Social Security to save Social Security.

    AP/Democrat model guarantees failure.

  2. Astravogel

    You can’t spell CRAP without AP.

  3. JohnMG

    Hey! Hold on a minute. Obama is taking care of the middle class by lowering the amount of payroll taxes being withheld, resulting in………you guessed it…………diminished contributions into the Social Security coffers.

    I would admonish those sleepy-eyed Obama-bots to start saving that paltry little bump in the paycheck……..they’re going to need it.

    Ain’t nothing like getting screwed with your own money.


« Front Page | To Top
« | »