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Tuesday, April 28, 2015

What America Thinks: Younger Voters Don’t Trust Social Security

New Jersey Governor Chris Christie unveiled a plan earlier this month to reduce or eliminate Social Security benefits for wealthier Americans to help keep the federal retirement system financially afloat. However, voters suspect his plan may lead to cutbacks for those who earn less somewhere down the road. But younger voters have long been doubtful of receiving their benefits. So how do they feel about Social Security these days? We decided to find out what America thinks.

While majorities of voters across all age groups still have a favorable opinion of the Social Security system, voters over 40 like it more than younger voters.

Only 35% of voters under 40 still consider Social Security a good deal for working Americans, while over half of voters 40 and older feel that way.

But then, three quarters of those who are already eligible for Social Security benefits expect to receive them in full, compared to just 37% of middle-aged voters. Even fewer of those under 40 share that belief.

Social Security is not a pure entitlement since Americans pay their own money into the system their entire working lives. So given the doubts younger voters have about getting their own money back, it’s not surprising that roughly half of these younger voters favor letting Americans opt out of the Social Security system to invest their money in a retirement strategy of their own. Older voters are far more likely to oppose any efforts to privatize Social Security.

For Rasmussen Reports, I’m Alex Boyer. Remember, if it’s in the news, it’s in our polls.