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US Youth More Confident in Social Security — Are You?

Thirty-six percent of young American voters are at least somewhat confident in the US Social Security system, according to a new poll. While almost two-thirds of voters 29-years-old and younger do not have much hope for the taxpayer funded retirement system, the newest numbers show a rise in confidence. Less than a month ago, only 19 percent of voters in the same demographic were at least somewhat confident.

Right now, employees pay a 6.2 percent tax on their earnings of up to $102,000, while employers pay an additional 6.2 percent. Barack Obama wants to extend the tax to earnings above $250,000, still leaving earnings from $102,000 - $250,000 untaxed. Perhaps his plan to increase the Social Security tax on higher income has some voters more confident in the system's survival. Do you think Social Security will be around in one form or another when you retire?


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