Are Americans Willing to Pay More in Taxes to Fund Social Security?

Did you know that most Americans would be willing to pay more in taxes to fix Social Security funding? Piggy Bank Over American Flag

A study, which was released by the National Academy of Social Insurance (NASI) in October, found that Americans are willing to pay more in taxes to alleviate the system’s finances and improve benefits. This includes assisting the Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) programs.

The National Organization of Social Security Claimants’ Representatives (NOSSCR) issues a press release following the release of the study’s results, indicating that this proves that people believe in the programs.

“At a time when the nation seems deeply divided about the proper size and role of government, Americans show remarkably widespread agreement on Social Security,” said Virginia Reno, the NASI’s Vice President for Income Security Policy.

According to the survey, 69 percent of Republicans and 84 percent of Democrats said, “It is critical to preserve Social Security benefits for future generations even if it means increasing the Social Security taxes paid by working Americans.”

Additionally, 71 percent of Republicans and 92 percent of Democrats said that top earners could pay more.

As the NOSSCR pointed out, Social Security taxes are paid by employee earnings, which are capped at $117,700 in 2014. Keep in mind, to collect SSDI, you must have earned work credits, so the amount of money you receive is based on how much you paid into the system.

For more information about the survey, you can read the NOSSCR release by clicking on the link in to source section at the bottom of this page.

How Do I Get SSDI?

It is nice to see that so many American’s are willing to help fund these programs. Remember, the SSA uses a five-step process to determine if a person is disabled.

This includes the initial application stage and potential appeals. Keep in mind, nearly 80 percent of SSDI applicants are denied at the initial application level. This means that you need to have experienced representation on your side if you are going through this process.

Steve Troutman is a supporting member of the NOSSCR and attends every organizational conference. For more information, contact us today.

Troutman & Troutman, P.C. – Tulsa Social Security disability lawyers


Leave a Reply

Your email address will not be published. Required fields are marked *