Ideas for Reforming Social Security - CNBC

As they say on The Family Feud, “the survey says” – that American voters support reforming the Social Security program to restore it to fiscal solvency. The survey in this case was conducted by a University of Maryland program which included over 2,500 registered voters from both political parties, and which queried participants’ feelings about seven possible Social Security reform ideas currently being discussed in Congressional circles. The possible reforms surveyed included raising SS taxes, raising the payroll tax cap, means-testing benefits for wealthier beneficiaries, changing how COLA is computed, and several others. In each case, the potential effect on Social Security’s finances was shown, and the percentage of respondents in favor of each reform idea was revealed. Not surprisingly, the results showed that most of those surveyed are strongly in favor of cutting benefits for, and raising taxes on, wealthier Americans but, somewhat surprisingly, a large percentage also favor increasing the full retirement age to reduce program costs. Respondents were much less enthusiastic about other changes which would add program costs.

This CNBC article by Lorie Konish predicts the extent to which American voters are willing to support certain changes to aspects of the Social Security program, but the stark reality is that Congress must act soon to restore the program to solvency within the next decade. Otherwise, benefits for everyone will be cut starting in 2035.

AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee, which will restore Social Security to solvency without raising taxes.  AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security.  To reviewAMAC’s Social Security Guarantee, click here.

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers