Social Security Financing Gap: Americans are increasingly concerned about the long-term sustainability of Social Security, with proposals emerging to address the program's projected funding shortfall.
Raising the Payroll Tax: A significant number of Americans support raising the payroll tax cap, which would require higher earners to pay Social Security taxes on more of their income.
Gradual Increase in Retirement Age: Some advocate for gradually increasing the retirement age to reflect longer life expectancies, potentially helping to reduce program costs.
Increasing Benefits for Lower-Income Workers: Many suggest boosting Social Security benefits for lower-income workers to reduce income inequality and provide better support to those who rely heavily on the program.
Taxing Investment Income: Another popular idea is to extend Social Security taxes to investment income, such as capital gains and dividends, to increase revenue for the program.
Cutting Benefits for Wealthy Recipients: Some propose reducing benefits for wealthier retirees, who may not rely as heavily on Social Security, to help preserve funds for lower-income beneficiaries.
More Efficient Administration: A portion of Americans favor reducing administrative costs within Social Security to improve the program's efficiency and reduce wasteful spending.