3 Polarizing Social Security Opinions That Are More Common Than You Think

Americans have a lot of opinions about the federal government. This has been the case for as long as the American project has been chugging away, to be sure, but one aspect of the government's laundry list of responsibilities and associated expenses that gets a lot of focus is the Social Security Administration. This organization's primary task commands the federal government's largest spending commitment in the budget, even more than the hulking annual military tally. With so much attention, funding, and employee numbers to contend with, it's no surprise that Americans have lots of thoughts about the program and the agency that oversees it.

Not all of these feelings are based on facts, and numerous myths and misconceptions abound. Other thoughts about Social Security are grounded not in misunderstandings, but rather in a different view of the facts. For instance, fixing the trust fund's insolvency issue can be done by either limiting spending on benefits or raising taxes on workers, and some Americans believe that slashing benefits is the best solution. Other polarizing opinions that frequently creep into the picture include funding retirement with Social Security benefits as the primary income and the prediction that the program will collapse entirely. 

According to a 2025 Pew Research Center study, about 20% of American adults are in favor of cutting benefits to current recipients in order to extend the solvency window for the program's trust fund. Notably, those earning higher incomes were more likely to agree with this strategy, but that still came at a very small rate (just 27%). Logistically, there are really two ways forward when thinking about fixing Social Security's looming insolvency issue. As it stands, the trust fund will be insolvent by the end of 2032. That doesn't mean that it will simply stop functioning, but rather that recipients will have to settle for a reduced benefit. Fixing this problem is a matter of either raising taxes on workers or shrinking benefits for retirees (either as a payout reduction or through a move like raising the retirement age).

Most Americans believe that raising taxes is the best way forward, opting to preserve the crucial financial tool for those who rely on it. A 2025 AARP survey found that 85% of participants believed that the current benefit levels should be maintained, even if that mean raising taxes across the board. Moreover, the outlet found that this sentiment carried bipartisan support, with 75% of Republican, 80% of independent, and 90% of Democratic voters favoring this position.

Bipartisan Policy Center found in 2025 that while 74% of Americans are worried to at least a modest degree that Social Security benefits will dry up before they retire, 41% expect these benefits to be their primary source of income. That near-halfway mark is concerning for a few reasons. Social Security benefits cover, at most, 40% of a retiree's pre-retirement income. Most households will need somewhere between 70% and 80% of that level to maintain a similar lifestyle once they leave the workforce. There's a clear gulf in funding here that must be addressed, and Social Security alone won't fill it. Pension Right Center found that just 19% of workers participated in a workplace pension plan in 2023, and workplace retirement plans more broadly saw a 56% participation rate. Workplace retirement savings tools have a raft of important benefits, like 401(k) matching contribution options. They often sit in the background of your financial calculations rather than demanding a direct focus.

However, with roughly half of American workers utilizing at least some sort of workplace retirement tool, the IRA becomes a key support solution. IRAs can be opened by anyone earning a paycheck and the process is fairly straightforward. These accounts provide a tax-advantaged way to set money aside to fund the gap between Social Security payments and a retiree's financial needs. Yet, this tool is another solution with underwhelming adoption. Even with a notable increase in the last decade, according to an Investment Company Institute report, only 44% of American households have an IRA account as of mid-2024.

According to findings in a CATO Institute survey in 2025, people under 30 are more likely to envision the Social Security project as it was intended rather than as a primary driver of retirement income. The program was established to raise vulnerable seniors out of poverty, and among some of the more impressive facts and figures surrounding Social Security, the reality is that these benefits do lift millions of people (adults and children) out of poverty.

While younger Americans appear to intuitively grasp the purpose of the program more than others, they also have a significant fear of its extinction during their lifetime. According to the study, only 34% of those under 30 expect that Social Security benefits will still exist by the time they reach retirement age; consequently, the other 66% feel that they're paying into a program they will never get to enjoy. 

There isn't any real appetite within the federal government to eviscerate this wildly popular public safety net. According to a Cornell Chronicle report in 2025, Americans largely support expanding the care features covered under Social Security. That doesn't mean that attitudes can't change over the next three-plus decades, however. And regardless of the role that Social Security benefits will ultimately play in any individual's retirement plan, there's a definitive need to save for the future. Planning to live without this added benefit is likely to leave you with much more than you actually need in retirement, providing an enriching lifestyle with lots of options — and having too much money is certainly not a bad way to live!