Iowans Prepared to Take Action on Social Security Reform
May 6, 2003
More than 80 percent of registered voters in Iowa recognize that the financial future of Social Security is at risk, according to a new poll by the National Center for Policy Analysis (NCPA). Further, when choosing between several options for saving Social Security, a reformed system that includes personal retirement accounts was by far the most popular option.
"Solving the crisis facing Social Security is the single most important domestic policy issue facing our country," said Mike Whalen, Iowa businessman and NCPA board member. "All candidates for president should tell voters how they plan to save Social Security for generations to come."
According to the NCPA poll, when asked to choose among the three most common reform options, nearly three-fourths of respondents chose a preference. Allowing workers to invest a portion of their Social Security payroll taxes into personal retirement accounts was by far the most popular option:
- Personal retirement accounts were favored by 35.3 percent of respondents.
- Roughly 20 percent favored raising the retirement age.
- And about 19 percent favored increasing the payroll tax rate.
"More and more people are coming to recognize that Social Security is in trouble," said Matt Moore, a Social Security policy analyst with the NCPA. "Support for personal accounts is only going to grow as people come to realize the burden our children and grandchildren will face if we resort to cutting benefits and raising taxes."
Source: Press Release, "Iowa Voters Overwhelmingly Iowa Voters Say Social Security is in Trouble, Says New NCPA Poll," National Center for Policy Analysis, May 3, 2003.
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