A majority of millennials think that the Social Security program is making more payments than it receives taxes, according to an exclusive Newsweek poll.

Millennials, Gen X and Gen Z say the system needs reform, an exclusive Newsweek poll found, amid fears the benefits won’t exist when they come to retire

Younger generations in the U.S., including millennials and Gen Zers, are much more likely to believe that the Social Security system needs reforming than those in their 60s and 70s, according to a recent survey conducted by Redfield & Wilton Strategies on behalf of Newsweek.

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Some 40 percent of respondents said they believe that the Social Security program currently pays out more to retirees than it is receiving in Social Security tax payments, while 26 percent disagreed with this statement.

Gen Zers (ages 18-26), millennials (ages 27-42) and Gen Xers (ages 43-58) were more likely than boomers (59 and older) to think that Social Security should be reformed.

  • Custoslibera@lemmy.world
    2·
    2 years ago

    Run out of money?

    You can just make more money, seriously.

    All countries can just go into a bigger and bigger debt. It doesn’t matter, money is made up.

    • KevonLooney@lemm.ee
      3·
      2 years ago

      Money isn’t “made up”. It’s valuable because a government will only accept it to pay taxes. You can’t pay taxes with anything else. Businesses keep local currency and accept payment in it (but not foreign currency) for this reason.

      There’s no reason to run up debt when corporate or income taxes can be raised. The US has some of the lowest taxes in the developed world. Increasing them is only a political problem, not a financial one. This may become more obvious when the Social Security trust fund gets lower in a few decades.