A new survey from a global investment firm recently uncovered a rare point on which Republicans and Democrats seem to agree: America faces a retirement savings crisis especially on questions of retirement security.

Only about half of American households have retirement savings accounts. The Social Security program may soon run short of funds, and those benefits were never meant to cover the full costs of retirement.

In an August survey, BlackRock asked 1,000 registered voters for their thoughts on retirement security in America. The responses transcended party lines.
When the survey asked voters if they think there is a retirement savings crisis in this country, 93% of Republicans answered yes, joined by 86% of Democrats and 94% of independents.

Three-quarters of Republicans said they are concerned about “not being able to maintain their standard of living” in retirement, joined by three-quarters of Democrats and a slightly smaller share of independents.
Now the important part:
Former President Donald Trump and Vice President Kamala Harris have markedly different platforms on Social Security, a fund that is projected to run short in about a decade.

Harris pledges to “strengthen Social Security and Medicare for the long haul by making millionaires and billionaires pay their fair share in taxes.” To me this is critical and will be an uphill battle.

She would presumably follow the lead of President Joe Biden, who has vowed to raise new revenue by going after wealthy tax cheats and by raising tax rates on wealthy individuals and corporations. Yet, Republicans threatened to go into a nations debt crises unless Biden dropped his big financial subsidy to the IRS. Who else will go after the wealthy cheats?

Harris may also be alluding to the idea of extending the Social Security payroll tax to higher incomes, according to an analysis by Bankrate, the personal finance site. Workers don’t pay Social Security taxes on earnings above $168,600 in 2024. They claim they are high earners and won’t get SS back so it’s basically a tax – which it is.
Trump has “taken a more ambiguous stance” on Social Security, Bankrate reports, pledging to protect the benefits but not offering details on exactly how. Trump has made a case that economic growth and job creation would naturally boost payroll tax revenues, shoring up Social Security. Duh, what else should we expect from this lying and cheating mogule!?

The Republican Party platform for 2024 includes a pledge to “fight for and protect Social Security and Medicare with no cuts, including no changes to the retirement age.” Trump has previously supported raising the American retirement age to 70.
I wonder if tRump even understand the term, ‘ambiguous?’ Remember, he’s all bluster, words and lies yet in the written 2025 plan, item 15 reads, Social Security, Medicare, and nutrition assistance programs are all targeted for big cuts or elimination. People that vote need to read and try to understand this document.
[yahoo.com]