Personal finance

Trump vs. Harris: Here’s What Americans Think They Could Do a Better Job Protecting National Security

Hyosub Shin/TNS via ZUMA Press Wire / Shutterstock / Hyosub Shin/TNS via ZUMA Press Wire / Shutterstock

Hyosub Shin/TNS via ZUMA Press Wire / Shutterstock / Hyosub Shin/TNS via ZUMA Press Wire / Shutterstock

Since it was signed into law in the mid-1930s, Social Security has been a priority for the American people. The program was created to provide financial security for retired workers over the age of 64. As of December 2023, an estimated 67 million Americans will receive Social Security.

For some Americans, Social Security is their main source of income. For others, it’s just a supplement to cover any funding gaps from other sources.

Learn more: I’m an Economist: Here’s My Social Security Prediction If Trump Wins the 2024 Election

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With the upcoming presidential election, many people are worried about what will happen to Social Security and which presidential candidate will best protect the program. Although any changes may take time to implement, it doesn’t hurt to be prepared.

GOBankingRates surveyed more than 1,000 Americans age 18 and older to find out who they believe could do a better job protecting Social Security. These are the results, as well as the main changes that may come to the program.

Which Presidential Candidate Will Best Protect National Security?

In a recent GOBankingRates survey, respondents said they believe they will better protect Social Security if elected this November.

  • Of those surveyed, 35.06% think that Donald Trump’s policies would be better for the program.

  • A total of 46.81% of respondents think that Kamala Harris’ policies can better protect the program.

  • Of those asked, 3.09% said each candidate would protect Social Security.

  • A total of 7.87% believe that no presidential candidate would be good for the program.

  • And 7.17% indicated that they do not know.

Read Next: I’m an Economist: Here’s My Social Security Prediction If Kamala Harris Wins the Election.

However, responses were again broken down by gender.

  • A total of 38.03% of men believe that Trump’s policies will protect Social Security the most, while only 32.15% of women said the same.

  • Additionally, 47.28% of men think Harris’ policies would be better for Social Security, and 46.35% of women agreed.

  • About 7% of men said they don’t think the presidential candidate would protect Social Security, while 9% of women said the same.

  • About 3% of men and women think another candidate would be equally good for the program.

Responses were further broken down by age.

  • Ages 18 to 24: More respondents think Trump’s policies would be better than Harris’s (43.37% vs. 33.73%).

  • Ages 25 to 34: About 46% of respondents think Harris’ policies would be better, while 35.92% think Trump’s would be better.

  • Ages 35 to 44: More Americans think Harris would be better than Trump for Social Security (44.60% vs. 35.21%).

Although the gap is not that big in these young years, those who are close to the time when they can start collecting benefits were in favor of Harris.

  • Ages 55 to 64: About 51% of respondents believe Harris’ policies will protect the program, while 31% believe Trump can protect the program better.

  • Age 65-plus: More than 52% of respondents think Harris’ policies would be better for Social Security than Trump’s (33.15%).

Whose Recommendations Are Related to Keeping a Program?

The Social Security Board has predicted that, by 2035, Social Security recipients will receive only 75% of their scheduled benefits. This is due to a combination of factors, including rising costs, an aging population and a declining birth rate.

For this to change, the next American president may have to make some serious changes.

It’s hard to say for sure whether Harris or Trump would do a better job of protecting Social Security. Neither candidate has said much about their plans, although Trump has said he will likely cut taxes on Social Security, while Harris has expressed interest in protecting and strengthening Social Security.

GOBankingRates spoke with Tim Rosenberger, a legal policy fellow at the Manhattan Institute, to get his thoughts on the matter.

“Trump/Vance has presented a platform that aligns well with the performance of the National Security Agency,” he said. “If the trust in Social Security becomes unstable, serious setbacks are in store for retirees.” He also warned that Trump’s proposals are aimed at blocking the program’s predictable performance.

However, as Forbes reports, tax experts have criticized Trump’s proposal. “If that lost tax revenue isn’t made up for with other funding sources, that means those programs will run out of money and quickly collapse,” according to Forbes. In addition, it reported that “tax experts predict that Trump’s proposed tax on Social Security will not provide much benefit to middle-class Americans.”

Other rules can also solve this problem.

Trump “may have to work with Congress to subsidize Social Security from general income or to reform Social Security in ways that will extend its life,” Rosenberger said.

As for Harris, here’s what he recently posted on social media: “For 89 years, Social Security has made the difference between poverty and peace of mind for millions of seniors, people with and the disabled, and other beneficiaries… As President, I will protect and expand.”

Again, the details are unclear at the moment, so US citizens will have to wait and see.

The stage is below

Regardless of who becomes America’s next president, they will face serious challenges in finding ways to sustain — or change — the Social Security program in ways that will benefit the people. Americans are good. This may mean implementing new policies, making changes to taxation, generating more revenue, or balancing all of these and more.

Method: GOBankingRates surveyed 1,004 Americans age 18 and older from across the country between August 5 and August 7, 2024, asking 20 different questions: (1) What area do you think the safest place to keep your money?; (2) How much money do you keep at home?; (3) If you have been a victim of identity theft, what type of theft did you experience? (Select all that apply); (4) If you have been a victim of financial fraud, what type of fraud did you experience? (Select all that apply); (5) If you have ever been defrauded, what kind of fraud was it? (Select all that apply); (6) In total, how much money have you lost as a result of identity theft, financial fraud and/or financial fraud?; (7) What factors give you the greatest impression of possible fraud?; (8) How often do you worry that your money is not protected?; 9 10 (11) Have you ever been scammed while using one of these tools? (Select all that apply); (12) Have you ever been scammed while using any of these social media platforms?; (13) Have you ever paid for services to protect yourself against fraud/fraud? (If yes, how much do you pay (monthly/yearly?); (14) How confident are you that your money is safe where it is? best economy if elected president in november 2024? do you believe it will handle inflation best if you are elected president in november 2024? how much do you expect to receive from social security during your are you retiring?

Editor’s note on polling news: GOBankingRates is non-partisan and strives to accurately cover all aspects of the economy and produce balanced reports on politically charged financial stories. You can find more information on this topic at GOBankingRates.com.

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This article appeared on GOBankingRates.com: Trump vs. Harris: Here’s What Americans Think They Could Do a Better Job Protecting National Security.

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