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.
Yes. That is what I said. I think it’s not a valid justification.
By way of analogy, let’s say we move to a point of tuition-free public college, which I also support. My taxes which go to support those colleges would be far higher than those of most people, but my kids, were I to have any, would receive the exact same benefit from a financial standpoint as people whose taxes contributed far less to none.
My property taxes are somewhere around $25k per year. They go largely to support a public school system which, as a person without children, I receive zero direct benefit from. Should I get a lower property tax because I am a person without kids despite having a higher income and higher valued property? Or should I be taxed relative to my ability to support the community? Should a family that makes a quarter of what I do but have four kids pay more than me?