A new survey reveals that 62% of Gen Z respondents support reducing benefits for current retirees to preserve Social Security, while only 38% back raising taxes. This marks a significant generational split in approaching the program's long-term solvency.
- 62% of Gen Z respondents support cutting benefits for current retirees to preserve Social Security.
- 38% of Gen Z support raising payroll taxes to fix the program.
- Social Security Trust Fund projected to be depleted by 2034.
- After 2034, benefits would be reduced by approximately 23% without reforms.
- Only 20% of retirees aged 65+ support benefit cuts, versus 62% among Gen Z.
- Survey included over 1,200 U.S. respondents across age groups.
A growing number of young Americans are signaling a willingness to prioritize fiscal sustainability over intergenerational equity when it comes to Social Security. According to recent survey data, 62% of respondents aged 18 to 26 would accept a reduction in benefits for current retirees to avoid increasing taxes. This contrasts sharply with older cohorts, where support for benefit cuts drops to below 20% among those aged 65 and above. The survey, which included over 1,200 participants nationwide, underscores a deepening ideological rift over the future of the nation’s largest social safety net. While 58% of Gen Z respondents said they would support raising payroll taxes to sustain the program, a majority still believe that current beneficiaries should bear some of the burden. The data shows that 41% of Gen Zers believe that retirees are already receiving more than their fair share, while 59% feel the burden of funding future payouts should not fall disproportionately on young workers. The Social Security Trust Fund is projected to be depleted by 2034, at which point benefits would be reduced by approximately 23% unless legislative action is taken. Current projections indicate that without reforms, the program would pay only 77% of scheduled benefits after that year. The survey results suggest that younger generations are less inclined to accept full tax increases, with only 38% favoring a payroll tax hike that would cover the funding gap. Instead, they appear open to structural changes such as benefit adjustments or higher retirement ages. This generational divide could influence future political discourse and policy-making. Lawmakers may face increasing pressure to find compromise solutions that balance fiscal responsibility with fairness across age groups. The outcome could affect not only Social Security's long-term viability but also broader confidence in federal entitlement programs, particularly among younger voters who are entering the workforce and planning their financial futures.