87% and 86% of Americans support proposing Social Security reforms, including taxing wages over $400k and raising payroll tax to address its shortfall.

Research from the University of Maryland shows strong bipartisan support among Americans for proposals to address Social Security's projected shortfall by 2033. Key measures include subjecting wages over $400,000 to payroll tax (supported by 87%) and raising the payroll tax from 6.2% to 6.5% (supported by 86%). Additionally, 92% back reducing benefits for high earners, and 89% support raising the retirement age to 68. These reforms could cut the shortfall by 78%.

September 12, 2024
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