Monday, July 28, 2025

More retirees depending heavily on Social Security: Survey

A recent AARP survey shows that more retirees are leaning more on their monthly Social Security payments as compared to 20 years ago. In the survey which polled more than 1,200 retirees, about 65% said they greatly rely on Social Security, while 21% said they rely on it somewhat. When AARP conducted that same study in 2005, half of those surveyed said they relied heavily on their checks.

Posted by LampLighter at 12:26 AM | 7 COMMENTS | permalink

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More from the article ...

... Confidence in the agency is also declining, with 36% of Americans saying they believe it will continue to pay out reliably and at the same level, compared to 43% in 2020.

"Social Security has helped generations of Americans live with dignity in retirement," AARP CEO Myechia Minter-Jordan said in a statement. "Older Americans routinely say the future of Social Security is one of the issues they care about most, and we will continue to work as hard and long as we need to ensure that Social Security remains the bedrock of retirement for generations to come."

The surge in dependency comes as the agency faces challenges like staffing cuts and a financial crisis that could cause payments to be slashed starting in 2034 if Congress does not act. ...


#1 | Posted by LampLighter at 2025-07-28 12:28 AM

Maybe, that is why MAGA wants to give tax benefits to the uber-wealthy, so that Social Security benefits earned, and paid for up front, by workers can be curtailed.

#2 | Posted by LampLighter at 2025-07-28 01:29 AM

How Should Social Security Be Reformed? Seniors Consider 7 Options
www.newsweek.com

... Among 1,920 respondents over the age of 62, 50 percent support eliminating the cap on earnings subject to payroll taxes, making it the most popular reform option by a wide margin. ...

#3 | Posted by LampLighter at 2025-07-28 02:45 AM

No ----.

Corporate america decided it was better use of money to concentrate all the profits into the hands of a handful of c-suite executives instead of rewarding the employees that actually do the work with a secure retirement.

Meanwhile the erosion of salaries through inflation and shifting costs of health insurance from the employer to the employee has left employees with nothing saved for retirement.

It's only going to get worse.

Can't wait until the GOP finally gets social security killed once and for all.

Just one more tax cut for billionaires will fix the system.

#4 | Posted by Nixon at 2025-07-28 07:51 AM

-Among 1,920 respondents over the age of 62, 50 percent support eliminating the cap on earnings subject to payroll taxes, making it the most popular reform option by a wide margin. ...

You can ask any age group this question and get the same results. It's not about age....it's about how much people make. How many people make more than $176K a year?

You mean people support taxing someone other than themself more? Color me shocked....

#5 | Posted by eberly at 2025-07-28 09:50 AM

You mean people support taxing the rich?
And I am going to knee-jerk attack that idea?
Color me shocked....
#5 | Posted by eberly

#6 | Posted by snoofy at 2025-07-28 11:28 AM

"How many people make more than $176K a year?"

About ten or fifteen percent.
The upper limit for the bottom 80% income in 2022 was $155k. Meaning 20% of households are over $155K.
data.census.gov

How many people who make more than $176K a year can't afford to see the SSI cap go up, or go bye-bye?
About zero percent.

#7 | Posted by snoofy at 2025-07-28 11:52 AM

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