Social Security cannot afford to pay all of the benefits it has promised. Beginning in 2017, it will run cash deficits that get bigger every year.
The media and opponents of personal accounts consistently portray public support for personal accounts as tepid. One good way to gauge public support for accounts is to see what they think of the government’s role in other savings. In a recent poll, 81% of high-income and 85% of low-and middle-income investors supported keeping the capital gains and dividend tax rates at 15% or lower permanently. Americans want the opportunity to save for their future without government interference or paternalism. Americans are ready for personal accounts.
Social Security has a problem, and we need to fix it. Personal accounts are the solution.
Savers of All Incomes Agree: Let Me Have a Tax-Free Personal Account
Rivel Polling, Inc.