What the data says about Social Security, from Pew Research

[CousinIT]

https://www.pewresearch.org/short-reads/2025/05/20/what-the-data-says-about-social-security/

Short, easily understood read. Bookmark this one.

. . .THERE IS MUCH MORE PRIOR TO THESE PARAGRAPHS, the entire thing is worth a read, so visit the link to get the rest.

What happens after the retirement trust fund is depleted?
That depends. With no more trust fund resources to draw on – and absent any legislative changes – Social Security would still collect enough tax revenues to pay about 79% of full retirement benefits, under the trustees’ most likely scenario.

Changing the program’s rules could restore its solvency and allow it to pay all of its promised benefits. Those changes could include raising tax rates, subjecting more earnings to the payroll tax, raising the retirement age, reducing benefit levels, or altering how annual cost-of-living raises are calculated.

How do Americans feel about cutting Social Security benefits?
Most don’t like it. In a 2024 Pew Research Center survey, about eight-in-ten U.S. adults opposed the idea. That included 38% who said the program should be kept about as it is and 40% who said it should cover more people with greater benefits.

Upper-income people were most likely to say future benefit reductions need to be considered. Still, only 27% of upper-income Americans said this.