Americans say they are counting on Social Security but many are not confident it will be there for them. Most Americans who are receiving Social Security (95 percent) say the benefits are important to them, and 85 percent of those who will receive benefits in the future say they will be important to their income. But, 62 percent say they are not confident about the future of the program.
Only 24 percent of respondents knew Social Security could continue to pay 75 percent of benefits after the year 2033 with its current income. After learning that raising taxes from 6.2 percent to 7.7 percent for workers and employers would ensure the program could pay benefits for 75 years, the share of respondents who think Social Security is in trouble dropped from 70 percent to 33 percent.
“At a time when the nation seems deeply divided about the appropriate size and role of government, it is striking that Americans across political and generational lines not only support Social Security but also agree on specific changes to strengthen it for the future,” the survey concludes.