Monday, November 04, 2013

Poll: Older Americans Nix Social Security Changes



Raise the age at which you can begin collecting full Social Security benefits?

Older Americans say no.

They also veto reductions in the cost-of-living increase.

But a poll finds support among those 50 and older for raising the cap on earnings that are taxed to fund the Social Security program so higher-income workers pay more.

The poll found that 62 percent of respondents expressed opposition to such a proposal, compared with 21 percent who supported it.

Among older Americans, the poll suggested the most popular idea for improving the program's finances was raising the cap on income subject to Social Security taxes. Currently, the cap is $113,700, meaning those earning more do not pay Social Security taxes on wages above that threshold.

The poll found that 61 percent of people favored raising the cap, compared with 25 percent opposing it. Among Democrats, support was at 73 percent; among Republicans, it was 45 percent.