Earlier this week, the Republican Study Committee, the largest GOP caucus in the House of Representatives, released its proposed budget for the coming fiscal year. It includes longtime conservative wish list items like raising the Social Security retirement age for younger Americans, reducing benefits for younger high-income earners, and converting Medicare into a voucher-style “premium support” program. When it comes to Social Security and Medicare, Republicans just can’t help themselves.
But when voters were told Biden would raise taxes on the wealthy while Trump would cut Social Security and Medicare, the president’s lead opened to an astonishing 51% to 39%. The programs’ popularity is no surprise, given their remarkable track record. Before Social Security was created in 1935, for example, the old-age poverty rate was at least 50%, and probably far higher. After its enactment, poverty among the elderly plunged.
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