On Social Security - questions for a readers' poll on Social Security system - Brief Article

Nation's Business, Dec, 1996

The Social Security system is on its way to fiscal calamity unless major changes are made to accommodate a huge increase in beneficiaries in the 21st century. These questions seek your views on this subject. Results of this poll will appear in the February issue of Nation's Business and will be forwarded to administration officials and congressional leaders. Send the attached, postage-paid Reader Response Card. Or circle your answers and fax this page to (202) 463-5636.

1. What is your view of the projected financial shortfall of the Social Security system?

1. Very serious

2. Somewhat serious

3. Not serious at all

2. Should the major work on restructuring the Social Security system begin now, or can the projected problems be left for future presidents and Congresses to solve?

1. Major reform efforts should begin now

2. Leave the system's problems for future presidents and Congresses

3. Under current law, the age at which retirees can begin drawing full benefits will be raised gradually to 67 from 65 over the next 30 years. Should Congress raise the age even more?

1. Yes

2. No

3. Undecided

4. Should wealthy recipients receive smaller benefits than those at lower income levels?

1. Yes

2. No

3. Undecided

5. Should future cost-of-living increases in Social Security benefits be reduced to shore up the system's reserves?

1. Yes

2. No

3. Undecided

6. Should the Social Security payroll tax--currently 6.2 percent of wages for employers and 6.2 percent for employees--be increased to build up reserves necessary to maintain present benefits?

1. Raise the employer portion of the tax only

2. Raise the employee portion of the tax only

3. Raise both portions

4. Raise neither

7. Should part of Social Security taxes be invested in private financial markets to build up reserves for future payments?

1. Yes

2. No

3. Undecided

8. If part of Social Security revenues were invested in private financial markets, who should make the investment decisions?

1. The Social Security Administration

2. Individual taxpayers