Although Social Security retirement benefits alone are generally not taxable, people with even a modest amount of income in a...Read more
Survey Shows Strong Disapproval of Social Security Privatization
- February 25th, 2005
There is much opposition to the Bush administration's proposal to partially privatize Social Security, according to the results of ElderLawAnswers' recent survey on the topic.
Nearly two-thirds (62 percent) of all respondents to the online survey oppose the privatization scheme. Fewer than one-quarter (24 percent) favor it, and 14 percent say they need to know more before forming an opinion.
ElderLawAnswers member attorneys who completed the survey were even more skeptical about the privatization plan than were consumer visitors to the site, with only 17 percent supporting it outright. Sixty-one percent of member respondents oppose it and 22 percent say they need more information. However, elder law attorneys as a whole were somewhat more favorable to the Bush plan, with 30 percent supporting, 55 percent disapproving, and the rest undecided.
Respondents also were asked whether or not they expect to receive Social Security benefits when they retire. One's optimism about the likelihood of receiving benefits clearly increases with age. While 35 percent of those age 44 or less do not expect to receive Social Security, virtually everyone age 45 and above is anticipating benefits.