Americans Sound Off On Social Security Cuts
Americans are furious!
A recent survey indicates that a majority of adults in the United States are against reducing the benefits of Medicare or Social Security.
According to Fox, in March, The Associated Press-NORC Center for Public Affairs Research conducted a poll which revealed that most people are in favor of increasing taxes for the wealthiest individuals in the country in order to maintain the current state of Medicare.
Approximately 80% of the respondents expressed their disagreement towards reducing the size of Social Security benefits, while around 67% were against the idea of increasing the monthly premiums for Medicare.
The poll found that a majority of 58% of the participants are in favor of the proposal to increase taxes for households earning more than $400,000 per year to fund Medicare.
However, the survey results revealed a political division where 75% of Democrats support the proposed tax hike, but the opinions of Republicans are split, with 42% in favor and 37% against. The remaining 20% of the participants expressed no support for either position.
Moreover, the poll discovered that Americans have concerns regarding the sustainability of both programs as they are predicted to deplete their funds and become unable to provide full benefits within the next decade.
Only about 20% of the respondents reported feeling very or extremely confident that they will receive benefits from either program, whereas approximately 50% expressed having little or no confidence in the availability of these benefits in the future.
According to the Social Security and Medicare trustees report, which was published last week, Medicare will only have sufficient funds to cover 89% of expenses for inpatient hospital visits and nursing home stays by 2031, while Social Security will be able to pay only 77% of benefits to retirees by 2033.
