August 28, 2012
Poll: 53% Favor Raising Taxes to Save Social Security
A new Associated Press-GfK poll reports on public attitudes to solve social security's long-term financial problems:
- 53% favor raising taxes, 36% favor cutting monthly benefits
- 53% favor raising the retirement age, 35% favor cutting monthly benefits
47% trust Barack Obama to do a better job on Social Security, and 44% trust Mitt Romney more (within the poll's 3.9% margin of error). (Hat Tip: Francine Lipman.)
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Social security will collapse either through inflation or through a direct cut. It's inevitable, just wait until the bond bubble bursts here in the US, it will be worse than Europe. all these payments will be able to manage.
Posted by: zman | Aug 28, 2012 8:38:16 AM
This is not a surprising poll honestly, there is so much money that has been put into the social security system over the years. The people that are just about to come online with the system dont want to see all their money eliminated.
Posted by: Barbara Cruz | Aug 28, 2012 9:22:15 AM
When you rob Peter to pay Paul you never hear Peter complain.
Posted by: Dan Irving | Aug 28, 2012 11:32:27 AM
can i take it to the bank that the bond market will burst....is mr. gross predicting this too?
Posted by: Sid | Aug 28, 2012 12:05:02 PM
Or, as the late Senate Finance Committee chair Russell Long always said, "don't tax you, don't tax me, tax that fella behind the tree," is the secret behind tax policy that placates the electorate.
Posted by: Jake | Aug 28, 2012 2:24:12 PM
Bond market will burst. It's a bubble. the interest rates have nowhere but up. That should be obvious. WE're lucky now because they are screwing up in Europe but when they solve their problems, we're next.
Posted by: zman | Aug 28, 2012 6:41:12 PM