Thread: 46% Favor Opting Out of Social Security

Social Security

46% Favor Opting Out of Social Security

Sunday, January 04, 2009

Forty-six percent (46%) of U.S. voters believe working Americans should be allowed to opt out of Social Security to provide for their own retirement planning, an idea not likely to gain much traction with Democrats more strongly in control of Congress.

Thirty-eight percent (38%) are opposed to the idea of opting out, and 16% are not sure in a new Rasmussen Reports national telephone survey.

In mid-November, voters were evenly divided on whether workers should be allowed to opt out of Social Security.

A majority of voters continue to agree with President-elect Obama’s proposal for workers to pay Social Security taxes on more of the income they earn each year. Sixty percent (60%) say people should pay Social Security taxes on all or most of their annual income. Twenty-nine percent (29%) disagree, and 11% are undecided.

Sixty-two percent (62%) of voters also say people who pay more in Social Security taxes should receive more in retirement benefits when they retire. Twenty-two percent (22%) are against that idea, with 16% undecided.

These numbers are largely unchanged from findings in early August.

One-fourth of all American workers (24%) were worried about losing their jobs in the near future in last month’s Rasmussen Employment Index.

A worker pays Social Security withholding tax equal to 6.2% of his or her gross wages, up to but not exceeding $102,000 per year. The same 6.2% tax is imposed on employers. As part of his plan for shoring up Social Security, Obama has proposed levying the 6.2% tax on wages of $250,000 and above but not on earnings between $102,000 and $250,000.

Obama’s team is also reportedly considering the establishment of a bipartisan commission whose duties in part would include setting limits on future Social Security benefits.

It is unlikely in the short-term Democrats will reverse their opposition to plans first pushed by President Bush and congressional Republicans to allow workers to privatize some or all of their retirement benefits. Supporters say workers can get a higher level of return outside the Social Security system, but opponents say it puts their retirement benefits at higher risk and undermines Social Security.

Over half (56%) of voters currently are not fully confident they will receive all of their promised Social Security benefits in their lifetimes.

Men (52%) are far more supportive of working Americans being allowed to opt out of Social Security than women (41%). A plurality of blacks and whites support the idea as well, although by two-to-one African-Americans also are more likely to be unsure.

Younger voters, the ones most heavily impacted by the opting-out proposal, are much more favorable toward it than older voters. Nearly three-out-of-five under the age of 40 support it.

Forty-nine percent (49%) of married voters like the idea of opting out, as opposed to 39% of those who are unmarried. Support is even higher among those with children at home (58%), compared to those without children in the home (40%).

Fifty-nine percent (59%) of Republicans favor letting workers opt out of Social Security, with 30% opposed and 11% undecided. By comparison, 49% of Democrats are against the idea, with 28% in support and 23% not sure. The numbers for voters not affiliated with either major party are virtually identical to the Republicans’.

Evangelical Christians are overwhelmingly in support of the opting out proposal, 61% to 24%. Other Protestants are more closely divided, with 39% for and 42% against. Nearly half of Catholic voters (48%) favor opting out, while 41% are opposed.

Seventy percent (70%) of Democrats say workers should pay Social Security taxes on all of most of their annual income, with just 18% in disagreement and 12% not sure. Fifty-four percent (54%) of GOP voters agree, with 38% opposed and eight percent (8%) undecided. Unffiliated voters favor Social Security taxes on all or most of income by 20 points.

Sixty-three percent (63%) of unmarried voters like the idea compared to 58% of those who are married. Those without children at home (68%) are far more supportive of the higher level of Social Security taxes than those with children in the home (45%).

In terms of church attendance, support for the idea was highest in general among those who attended church the least.

Seventy percent (70%) of Republicans believe those who pay more in Social Security taxes should receive more benefits when they retire, but just 54% of Democrats agree. Neatly two-thirds of unaffiliated voters (65%) agree, too.

http://www.rasmussenreports.com/public_ ... l_security

No...NO....No...to opting out!!!!!!!!!!!!!!!!!!!!!!!!!!!
I am going to go onto Social Security any month now....

I put into it all these years....It better be there now that I am almost on it!!!!!!!!!!!!!!!!