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Election 2000: Where the Public Stands on Social Security

Election 2000: Where the Public Stands on Social Security

Americans agree that changes are required

by Chris Chambers

GALLUP NEWS SERVICE

I. Importance of Social Security

KEY POINT: Social Security is one of the most important issues in the campaign, trailing only education, the economy and health care in the expected influence the issue will have on Americans' vote for president.

Imminent fiscal threats to the future of the Social Security system have thrust it into the forefront as a key campaign issue in the 2000 presidential election. Americans rank Social Security as among the most important campaign topics -- trailing only education, the economy and health care by slim margins. More than four in five -- 82% -- state that the presidential candidates' positions on Social Security are extremely or very important in influencing their votes and nearly one in ten Americans -- 8% -- indicate that Social Security is the single most important factor influencing their votes.

"Now I am going to read a list of some of the issues that will probably be discussed in this year's presidential election campaigns. As I read each one, please tell me how important the candidates' positions on that issue will be in influencing your vote for president -- extremely important, very important, somewhat important, or not important." [RANDOM ORDER]

 

July 25-26, 2000

Extremely important

Very
important

Extremely/very important

 

%

%

%

       

Education

43

46

89

The economy

35

51

86

Health care

37

47

84

Social Security

37

45

82

Handling the budget surplus

32

47

79

Medicare

34

44

78

Taxes

33

44

77

Creating opportunities for better-paying jobs

28

44

72

The environment

29

42

71

National defense

30

40

70

The gun issue

30

32

62

Foreign affairs

18

40

58

Abortion

25

27

52

Foreign trade

15

36

51



There has been very little change in the public's perception of the importance of Social Security over the last year:

August 4-5, 2000

"Now I am going to read a list of some of the issues that will probably be discussed in this year's presidential election campaigns. As I read each one, please tell me how important the candidates' positions on that issue will be in influencing your vote for president -- extremely important, very important, somewhat important, or not important."

Social Security

 

 

Extremely important

Very important

Somewhat important

Not important

No
opinion

           

2000 Aug 4-5

43%

40

14

3

*

           

2000 Jul 25-26

37%

45

15

3

*

2000 Apr 3-9

37%

43

17

3

*



II. Who Cares About Social Security?

KEY POINT:Older people care most about Social Security, and Democrats more than Republicans -- but large majorities of all groups say the issue is important.

The issue of Social Security extends to all corners of the American public and its importance as a campaign issue is acknowledged by all age groups. Older Americans, however, show considerably more interest than younger ones. Nearly three in four of the youngest group of American adults -- 74% -- say the issue is important, compared with 93% of those in retirement age.

Democrats are more likely than Republicans to say Social Security is important, but even among Republicans almost eight in ten say the issue is important.

 

Importance of Social Security Compared by Age and Party Affiliation

 

Percentage saying Social Security is "extremely" or "very" important

Age

18-29

30-49

50-64

65+

 

74

80

91

93

Party

Republicans

independents

Democrats

 

78

83

88



III. What the Public Wants Done About Social Security

KEY POINT:Americans want major changes to the Social Security system, and are open to the idea of investing a portion of their Social Security taxes into private retirement accounts.

The American public is aware of the precarious financial future of Social Security and leans towards major governmental action as a means of saving Social Security. Americans overwhelmingly favor provisions in the federal budget to increase spending on Social Security and they oppose spending surplus Social Security funds in an effort to balance the federal budget. Furthermore, Americans do not appear to feel unduly burdened by the amount of Social Security taxes that they pay. In polling conducted last year, the largest proportion of the public -- 46% -- indicated that the amount of Social Security taxes they currently pay is about right, while more than four in ten -- 43% -- feel that the Social Security taxes they pay are too high.

September 10-14, 1999

"Do you consider the amount of Social Security taxes you have to pay as too high, about right, or too low?"

BASED ON -- 839 ADULTS; ± 4 PCT. PTS.

 

Too high

43%

About right

46

Too low

3

DON'T PAY SOC. SEC. TAXES (vol.)

6

No opinion

2

TOTAL

100%



The knowledge that Social Security is in jeopardy is reflected in opinions about the system. Almost six in ten Americans (58%) last year said that at least major changes to the Social Security system are required and one in five Americans believe that the system needs to be completely overhauled.

June 25-27, 1999

"Which of the following statements best represents how you feel about Social Security -- [ROTATE 1-3/3-1: 1) It needs to be completely overhauled, 2) It needs major changes, 3) It needs minor changes, or 4) It is basically fine the way it is]?"

 

It needs to be completely overhauled

21%

It needs major changes (or)

37

It needs minor changes (or)

28

It is basically fine the way it is

13

No opinion

1

 

100%



One of the major proposals that has been advanced to shore up the Social Security system is to allow individuals to invest part of their savings into the stock market. Americans generally favor such a system, although not by overwhelming margins.

When asked about the long term, a slim majority of Americans said in a June poll that investment of Social Security payroll taxes in the stock market would strengthen the ability to pay benefits to retirees 25 years from now while only about a third said that it would weaken it. Nearly one-half of those interviewed believe that such a system would also have a more immediate impact in terms of strengthening the ability to pay current retirees, while 35% said that it would weaken the system's current strength.

June 6-7, 2000

"Thinking about the long-term condition of the Social Security system, if people were allowed to put a portion of their Social Security payroll taxes into accounts that would be invested in the stock market, would this [ROTATE: strengthen (or) weaken]the ability to pay benefits to retirees25 years from now?"

BASED ON -- 568 -- NATIONAL ADULTS; +/- 5 PCT. PTS.

 

 


Strengthen


Weaken

No
difference

No
opinion

         

2000 Jun 6-7

53%

30

2

15



"Thinking about the condition of the Social Security system today, if people were allowed to put a portion of their Social Security payroll taxes into accounts that would be invested in the stock market, would this [ROTATE: strengthen (or) weaken]the ability to pay benefits to current retireestoday?"

 

 


Strengthen


Weaken

No
difference

No
opinion

         

2000 Jun 6-7

47%

35

6

12



* Less than 0.5%

(vol.) Volunteered response


Gallup https://news.gallup.com/poll/2500/Election-2000-Where-Public-Stands-Social-Security.aspx
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