OCPA 0 FaxLine Report amazonaws com
OCPA 0 FaxLine Report
a Dublic Dolicv information service for members of the Oklahoma Council of Public Affairs. Inc.
Dear
OCPA Member:
Thursday, June 16, 2005
"Americans are highly skeptical that the current Social Security system will be able to cope in the near future." That was the finding of a recent poll conducted by Zogby International for the Cato Institute. "By a 62-30% margin, voters do not believe that Social Security will be able to pay all promised future benefits." Cato reports that "skepticism is particularly strong among younger voters with over 70% believing that Social Security will be unable to pay the benefits promised by the federal government."
There was also a strongly held belief that the payroll tax contributions should
be controlled by the people who pay them and not by the government. This was a commonly held belief among every ethnic and age group polled, except AfricanAmericans who chose inheritability as their biggest reason for supporting personal accounts. The misinformation
which follows any reform effort causes a loss of support among older voters with voters 65 years old opposing the introduction of personal accounts by 52-40%, and those over 70 by 55-38%. This is despite the provisions in the reform proposals that current retirees would realize no loss of benefits. But assurances do not calm the jitters of current retirees who know the statistics show that the average American today can expect to live longer than
Americans did when Social Security was created -- meaning that they are likely to receive more in government benefits in their lifetimes than projected back in 1936. At the same time, fewer workers are contributing to Social Security per retiree than in past decades. These two factors feed many fears. "This poll reflects three realities," Mike Tanner, director of Cato's Project on Social Security Choice. "First, Americans understand the current Social Security system is in need of reform. Second, that allowing people the opportunity to own their retirement savings should be a fundamental And finally, doing nothing is not an option."
component
to any reform plan.
The poll also revealed that Americans believe that opponents of Social Security reform have an explicit obligation to present an alternative plan to solve the financial crisis. "By an overwhelming 70-22% margin, voters said that Democrats should come up with proposals of their own. Even 55% of Democrats believe this." So the Zogby poll demonstrates that the problem is clearly understood by most Americans. The battle continues to be how we will solve the crisis. As this issue continues to be debated, citizens are left with no other choice but to consider the reform possibilities or doom future generations to retiring -- with less.
Until next time. . . Brett A. Magbee, Vice President for Finance and Operations If you know others
who would like to receive
Oklahoma
the OCPA FaxUne
Report
please
let us know by contacting
us at:
Council of Public Affairs. Inc.. 1401 N. Lincoln Blvd.. Oklahoma Cltv. Oklahoma 73104 Tel: 405.602.1667 I Fax: 405.602.1238 I Website: www.ocDathlnk.ora OCPA is a research and educational organization promoting public policies consistent with the principles of individual liberty, free enterprise and limited government. Contributions to OCPA are tax-deductible to the fullest extent of the law. Nothing written in an OCPA FaxLine Report is to be construed as necessarily reflecting the views of the membership of the Oklahoma Council of Public Affairs, Inc., or as an attempt to aid or hinder the passage of any bill before the Oklahoma House or Senate, United States Co~~s~ or an~~her government t:~L_ _ _ _ _ ___
a Dublic Dolicv information service for members of the Oklahoma Council of Public Affairs. Inc.
Dear
OCPA Member:
Thursday, June 16, 2005
"Americans are highly skeptical that the current Social Security system will be able to cope in the near future." That was the finding of a recent poll conducted by Zogby International for the Cato Institute. "By a 62-30% margin, voters do not believe that Social Security will be able to pay all promised future benefits." Cato reports that "skepticism is particularly strong among younger voters with over 70% believing that Social Security will be unable to pay the benefits promised by the federal government."
There was also a strongly held belief that the payroll tax contributions should
be controlled by the people who pay them and not by the government. This was a commonly held belief among every ethnic and age group polled, except AfricanAmericans who chose inheritability as their biggest reason for supporting personal accounts. The misinformation
which follows any reform effort causes a loss of support among older voters with voters 65 years old opposing the introduction of personal accounts by 52-40%, and those over 70 by 55-38%. This is despite the provisions in the reform proposals that current retirees would realize no loss of benefits. But assurances do not calm the jitters of current retirees who know the statistics show that the average American today can expect to live longer than
Americans did when Social Security was created -- meaning that they are likely to receive more in government benefits in their lifetimes than projected back in 1936. At the same time, fewer workers are contributing to Social Security per retiree than in past decades. These two factors feed many fears. "This poll reflects three realities," Mike Tanner, director of Cato's Project on Social Security Choice. "First, Americans understand the current Social Security system is in need of reform. Second, that allowing people the opportunity to own their retirement savings should be a fundamental And finally, doing nothing is not an option."
component
to any reform plan.
The poll also revealed that Americans believe that opponents of Social Security reform have an explicit obligation to present an alternative plan to solve the financial crisis. "By an overwhelming 70-22% margin, voters said that Democrats should come up with proposals of their own. Even 55% of Democrats believe this." So the Zogby poll demonstrates that the problem is clearly understood by most Americans. The battle continues to be how we will solve the crisis. As this issue continues to be debated, citizens are left with no other choice but to consider the reform possibilities or doom future generations to retiring -- with less.
Until next time. . . Brett A. Magbee, Vice President for Finance and Operations If you know others
who would like to receive
Oklahoma
the OCPA FaxUne
Report
please
let us know by contacting
us at:
Council of Public Affairs. Inc.. 1401 N. Lincoln Blvd.. Oklahoma Cltv. Oklahoma 73104 Tel: 405.602.1667 I Fax: 405.602.1238 I Website: www.ocDathlnk.ora OCPA is a research and educational organization promoting public policies consistent with the principles of individual liberty, free enterprise and limited government. Contributions to OCPA are tax-deductible to the fullest extent of the law. Nothing written in an OCPA FaxLine Report is to be construed as necessarily reflecting the views of the membership of the Oklahoma Council of Public Affairs, Inc., or as an attempt to aid or hinder the passage of any bill before the Oklahoma House or Senate, United States Co~~s~ or an~~her government t:~L_ _ _ _ _ ___
